KRS 162.280: When city to convey property to board.

When the board of education of the school district has paid rent, as provided in KRS

162.160, sufficient to amortize the cost of erection of the building and appurtenances and

to maintain the building and pay the cost of insurance, the city shall thereupon convey the

premises to the board, and shall transfer any balance remaining in the funds provided for

in KRS 162.230 to 162.250 to the account of the board of education.