KRS 157.640: Successor agency of Kentucky School Building Authority.

The School Facilities Construction Commission is the successor agency of the Kentucky

School Building Authority created by the 1978 Acts of the General Assembly Chapter

153. All powers, duties, obligations, and assets of the Kentucky School Building

Authority, including an obligation for only those projects which have been approved for

funding or partial funding as of July 1, 1985, and for which funds have been appropriated

by the General Assembly as of June 30, 1986, are hereby transferred to the School

Facilities Construction Commission. The commission is hereby empowered with all

rights of successorship necessary to assure continuance of all legal and contractual

functions and liabilities associated with the outstanding bonds issued in the name of the

Kentucky School Building Authority and may refund such bonds previously issued in the

name of the Kentucky School Building Authority.