Immediately upon the approval of the plans and specifications as provided in KRS
162.130, the board of education shall offer to lease the building for a term of one (1) year
from the time the building is completed and ready for occupancy. The lease by its terms
shall give the lessee the right and option to extend the term of the lease from year to year,
for periods of one (1) year, until the original term of the lease has been extended for a
total number of years, acceptable to the city, not exceeding thirty (30) years, at a rental
which, if paid for the original term and for each of the full number of years for which the
term is extended, will amortize the total cost of the erection of the building and
appurtenances, provide an adequate maintenance fund and, in addition thereto, a sum
sufficient to pay the cost of insuring the building against loss or damage by fire and
windstorm or other calamity in such sum as may be agreed by the parties thereto.
Effective: July 13, 1990
History: Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 556, effective July
13, 1990. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942,
from Ky. Stat. sec. 4421-3.
Notes of Decisions
City of Bowling Green v. Bd. of Educ., 443 S.W.2d 243 (Ky. Ct. App. 1969).
· cites it 2× “120, and an offer to lease back the site, as improved by the construction of the desired high school building and appurtenant facilities thereon under authority of KRS 162.140; thereupon providing for the financing of construction of the new high school building and appurtenant…”
Fosson v. Fiscal Court of Boyd Cnty., 369 S.W.2d 108 (Ky. Ct. App. 1963).
“After the school building is completed, it is leased to the board of education by the fiscal court pursuant to the terms and conditions of KRS 162.140. An architect was hired and plans were effectuated for constructing the school.”
Carter v. Taylor, 231 S.W.2d 601 (Ky. Ct. App. 1950).
· cites it 2× “The language of KRS 162.140 is: "The board of education shall offer to lease the building for a term of one year from the time the building is completed and ready for occupancy.”
Carter v. Taylor, 231 S.W.2d 601 (Ky. Ct. App. 1950).
“The language of KRS 162.140 is: “The board of education shall offer to lease the building for a term of one year from the time the building is completed and ready for occupancy.”
Annotations are extracted automatically from the opinions in the
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treatment. Dots show Syfertize treatment of the citing case itself.