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162.590 Duty of department on request of authority.

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162.590 Duty of department on request of authority. It shall be the duty of the department, upon written request of the authority: <br>(1) To cause its auditing staff to audit the financial records of a board of education relating to any identified and described bond issue of the authority, as an incident to <br>the department's next ensuing annual audit of such board of education, and each <br>subsequent annual audit thereof; and to provide to the authority a statement or <br>report thereof; (2) Upon receiving a notification and request from the authority as described in KRS 162.580, to ascertain whether the lease of the board of education has been renewed <br>and is in force in accordance with its terms; and if the same is ascertained to be in <br>force, to withhold from the board of education a sufficient portion of any <br>undisbursed funds then held or set aside or allocated by the department for the <br>board of education, and to comply with the terms of the notification and request of <br>the authority, for the account of said board of education. Effective: July 13, 1990 <br>History: Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 588, effective July 13, 1990. -- Created 1960 Ky. Acts ch. 82, sec. 9, effective June 16, 1960.