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58.610 Issuance by school districts, county and city government, or special district -
- Special procedure.
(1) Energy conservation revenue bonds authorized under KRS 58.600 to 58.610 issued
by or on behalf of a school district shall be approved or disapproved by the chief <br>state school officer based on consideration of the following criteria: <br>(a) Funding capability of the school; <br>(b) The availability of general fund, capital outlay allotment under KRS 157.420,
or state and local funds from the Facility Support Program of Kentucky under <br>KRS 157.440, that are to be contributed by the school district as capital cost <br>avoidance; and
(c) Proper bond documentation.
(2) Guaranteed energy savings and guaranteed operational savings of a guaranteed
energy savings contract shall be exempt from current or future debt limitations, <br>except that capital cost avoidance, as defined in KRS 58.600, shall not be exempt <br>from current or future debt limitations.
(3) No energy conservation revenue bonds authorized under KRS 58.600 to 58.610
shall be issued by or on behalf of a county, urban-county government, charter <br>county government, city, or special district without the prior approval of the state <br>local debt officer, except that this approval shall not be required if the principal <br>amount of energy conservation revenue bonds is less than five hundred thousand <br>dollars ($500,000).
(4) Any issuance of energy conservation revenue bonds shall be reported to the state
local debt officer.
Effective: July 15, 1998 <br>History: Amended 1998 Ky. Acts ch. 375, sec. 8, effective July 15, 1998. -- Created
1996 Ky. Acts ch. 213, sec. 3, effective July 15, 1996.
Page 1 of 1
58.610 Issuance by school districts, county and city government, or special district -
- Special procedure.
(1) Energy conservation revenue bonds authorized under KRS 58.600 to 58.610 issued
by or on behalf of a school district shall be approved or disapproved by the chief <br>state school officer based on consideration of the following criteria: <br>(a) Funding capability of the school; <br>(b) The availability of general fund, capital outlay allotment under KRS 157.420,
or state and local funds from the Facility Support Program of Kentucky under <br>KRS 157.440, that are to be contributed by the school district as capital cost <br>avoidance; and
(c) Proper bond documentation.
(2) Guaranteed energy savings and guaranteed operational savings of a guaranteed
energy savings contract shall be exempt from current or future debt limitations, <br>except that capital cost avoidance, as defined in KRS 58.600, shall not be exempt <br>from current or future debt limitations.
(3) No energy conservation revenue bonds authorized under KRS 58.600 to 58.610
shall be issued by or on behalf of a county, urban-county government, charter <br>county government, city, or special district without the prior approval of the state <br>local debt officer, except that this approval shall not be required if the principal <br>amount of energy conservation revenue bonds is less than five hundred thousand <br>dollars ($500,000).
(4) Any issuance of energy conservation revenue bonds shall be reported to the state
local debt officer.
Effective: July 15, 1998 <br>History: Amended 1998 Ky. Acts ch. 375, sec. 8, effective July 15, 1998. -- Created
1996 Ky. Acts ch. 213, sec. 3, effective July 15, 1996.
Page 1 of 1
58.610 Issuance by school districts, county and city government, or special district -
- Special procedure.
(1) Energy conservation revenue bonds authorized under KRS 58.600 to 58.610 issued
by or on behalf of a school district shall be approved or disapproved by the chief <br>state school officer based on consideration of the following criteria: <br>(a) Funding capability of the school; <br>(b) The availability of general fund, capital outlay allotment under KRS 157.420,
or state and local funds from the Facility Support Program of Kentucky under <br>KRS 157.440, that are to be contributed by the school district as capital cost <br>avoidance; and
(c) Proper bond documentation.
(2) Guaranteed energy savings and guaranteed operational savings of a guaranteed
energy savings contract shall be exempt from current or future debt limitations, <br>except that capital cost avoidance, as defined in KRS 58.600, shall not be exempt <br>from current or future debt limitations.
(3) No energy conservation revenue bonds authorized under KRS 58.600 to 58.610
shall be issued by or on behalf of a county, urban-county government, charter <br>county government, city, or special district without the prior approval of the state <br>local debt officer, except that this approval shall not be required if the principal <br>amount of energy conservation revenue bonds is less than five hundred thousand <br>dollars ($500,000).
(4) Any issuance of energy conservation revenue bonds shall be reported to the state
local debt officer.
Effective: July 15, 1998 <br>History: Amended 1998 Ky. Acts ch. 375, sec. 8, effective July 15, 1998. -- Created
1996 Ky. Acts ch. 213, sec. 3, effective July 15, 1996.
