Title XIII, Education

bond payments -- Action by governing board to generate additional revenues. If the governing board is unable to pay the required principal and interest payments due on agency bonds issued by the postsecondary institution from system revenues or from other available agency revenue…

(1) An institution may organize and operate one (1) or more affiliated corporations to assist it in carrying out its programs, missions or other functions. A qualified firm of certified public accountants experienced in the auditing of colleges and universities and their affiliat…

Nothing contained in KRS 164A.555 to 164A.630 shall be construed to prevent an institution or an affiliated corporation from enforcing or carrying out the bona fide terms of any gift, grant, conveyance, devise or bequest from any private person, corporation, foundation, estate or…

The governing board is authorized to establish a "fund for excellence" trust fund into which gifts, grants, and special appropriations by the General Assembly intended for such purpose may be deposited. The governing board may also deposit into this fund proceeds from the sale of…

If any provisions of KRS 164A.555 to 164A.630 or the application thereof to any persons or circumstance is held invalid, the invalidity shall not affect other provisions or applications of KRS 164A.555 to 164A.630 which can be given effect without the invalid provision or applica…

(1) In carrying out the provisions of KRS 164A.555 to 164A.630 the governing boards shall be bound by the following statutes: (a) KRS 56.610 to 56.820 regarding relocation assistance and lease of property for state use, and 56.870 to 56.874 regarding legislative approval of state…

As used in KRS 164A.700 to 164A.709, unless the context requires otherwise: (1) "Academic year" means the time period specified by each eligible educational institution; (2) "Board" means the board of directors of the Kentucky Higher Education Assistance Authority acting in the c…

Prepaid postsecondary tuition administrative account. (1) (a) There is hereby created an instrumentality of the Commonwealth to be known as the "Commonwealth postsecondary education prepaid tuition trust fund", to be governed by the board and administered by the Tuition Account P…

The board shall: (1) Promulgate administrative regulations, set fees, and adopt procedures as are necessary to implement the provisions of KRS 164A.700 to 164A.709; (2) Enter into contractual agreements, including contracts for legal, actuarial, financial, and consulting services…

Limitation of liability -- Use of tuition account. (1) The prepaid tuition contract entered into by the purchaser and the board shall constitute an irrevocable pledge and guarantee by the fund to pay for the tuition of a qualified beneficiary upon acceptance and enrollment at an …

creditors or taxes -- No guarantee of attendance at institution -- Payment of contracts -- Beneficiaries -- Investments and earnings -- Contracts not securities or annuities -- Contracts subject to amendment by subsequent change to statute, regulation, or policy. (1) Purchasers b…

Obligations of the Commonwealth. (1) (a) All prepaid tuition contracts in existence on April 25, 2006, shall be supported by the full faith and credit of the Commonwealth. (b) If the report of the actuary submitted under KRS 164A.704(7) reflects that there will be a real liabilit…

- Operations of Commonwealth postsecondary education prepaid tuition trust fund and the Tuition Account Program Office to end on June 30, 2030. (1) A purchaser may terminate a prepaid tuition contract at any time upon written request to the office. (2) Upon termination of a prepa…

There is hereby created a mining and minerals trust fund, hereinafter referred to as the "fund."

(1) There is established a mining and minerals trust fund at the University of Kentucky under the control and direction of a board of trustees. The board of trustees shall consist of three (3) members of the university board of trustees appointed by the chairman of that board; tw…

(1) All moneys received by the mining and minerals trust fund shall be deposited in the State Treasury in a separate account entitled "mining and minerals research." The Treasurer of the Commonwealth shall, by the 10th day of each month, issue a check to the trustee of the mining…

Records shall be maintained for all receipts and disbursements from the fund and an annual audit of the transactions shall be conducted as part of the University of Kentucky annual audit at the end of each fiscal year. A quarterly financial report shall be prepared by the trustee…

(1) The fund shall be used to defray the costs of debt service to retire revenue bonds issued to defray the costs of constructing and equipping any mining and minerals building authorized by the General Assembly for construction on the University of Kentucky campus. Idle funds sh…

The University of Kentucky may issue revenue bonds to provide for the construction of a building to house the School of Mines and Minerals.

Each fiscal year all license, permit, and acreage fees, collected by the Energy and Environment Cabinet and which are related to mining or minerals, shall be deposited to the credit of the mining and minerals trust fund in an amount not to exceed the annual debt service required …