Kentucky Statutes 164A.595 – Carrying out of capital construction projects
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Capital construction projects shall be carried out as follows:
(1) Subject to the provisions of KRS § 45.750 through 45.800, 45A.180, and 45A.183, the governing boards of the institutions may acquire, erect, construct, reconstruct, improve, rehabilitate, remodel, repair, complete, extend, enlarge, equip, furnish, and operate any buildings, structures, improvements, or facilities, including any utilities, other related services and appurtenances and land required as the respective governing boards shall deem necessary for carrying on the educational, research or public service programs or discharging the statutory responsibilities of the universities and colleges and various divisions under the jurisdiction of the boards, or for the management, operation, or servicing of the universities and colleges.
(2) The governing boards may acquire real or personal property, by purchase, lease, sublease, condemnation, trade or exchange, gift, devise, or otherwise, and improve such property whenever in the judgment of the governing board it shall be necessary. The title to any real estate acquired under this section shall vest in the Commonwealth for the use and benefit of the appropriate institution.
Effective: June 24, 2015
History: Amended 2015 Ky. Acts ch. 105, sec. 15, effective June 24, 2015. — Amended
2003 Ky. Acts ch. 98, sec. 19, effective June 24, 2003. — Created 1982 Ky. Acts ch.
391, sec. 11, effective July 15, 1982.
(1) Subject to the provisions of KRS § 45.750 through 45.800, 45A.180, and 45A.183, the governing boards of the institutions may acquire, erect, construct, reconstruct, improve, rehabilitate, remodel, repair, complete, extend, enlarge, equip, furnish, and operate any buildings, structures, improvements, or facilities, including any utilities, other related services and appurtenances and land required as the respective governing boards shall deem necessary for carrying on the educational, research or public service programs or discharging the statutory responsibilities of the universities and colleges and various divisions under the jurisdiction of the boards, or for the management, operation, or servicing of the universities and colleges.
Terms Used In Kentucky Statutes 164A.595
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Personal property: All property that is not real property.
- real estate: includes lands, tenements, and hereditaments and all rights thereto and interest therein, other than a chattel interest. See Kentucky Statutes 446.010
(2) The governing boards may acquire real or personal property, by purchase, lease, sublease, condemnation, trade or exchange, gift, devise, or otherwise, and improve such property whenever in the judgment of the governing board it shall be necessary. The title to any real estate acquired under this section shall vest in the Commonwealth for the use and benefit of the appropriate institution.
Effective: June 24, 2015
History: Amended 2015 Ky. Acts ch. 105, sec. 15, effective June 24, 2015. — Amended
2003 Ky. Acts ch. 98, sec. 19, effective June 24, 2003. — Created 1982 Ky. Acts ch.
391, sec. 11, effective July 15, 1982.