KRS 154.35-055: Qualification as contracting university.

Universities individually or jointly eligible to serve as contracting universities for the

centers set forth in KRS 154.35-020 may qualify by:

(1) Agreeing to match the moneys allocated to the center by the council from the fund

dollar-for-dollar from nons tate, nonagency funds raised by the university for

research purposes; provided that for university budget years ending on or before

July 1, 1996 a contracting university may provide its matching funds by redirecting

previously-budgeted state or agency fund s. In the discretion of the council, a

university may provide all or part of its match by in -kind contributions of facilities

and equipment of equal value.

(2) Providing an operations plan, acceptable to the council, for the center which sets

forth staffin g, facilities, equipment, anticipated business demand for services, a

proposed budget that reflects revenues from all sources including the fund,

matching contributions from the contracting university, and anticipated receipts

from research contracts with private businesses, and such other matters as directed

by the council; and

(3) Entering into a contract with the council which sets forth the terms and conditions

upon which the center will be operated, including the operations plan agreed upon

by the parties, performance standards, and funding commitments. The contract may

extend beyond the end of the budget cycle of the university, may be renewed or

extended by the parties, and shall be terminable by the council for nonperformance

or unacceptable performance by the university as specified in the contract.