KRS 164.7923: Physical facilities trust fund.

(1) The physical facilities trust fund created by KRS 164.7911 is intended to provide

sufficient financial assistance for unexpected contingencies for the construction,

improvement, renovation, or expansion of the physical facilities of the

postsecondary education system.

(2) The Council on Postsecondary Education shall develop the criteria and process for

submission of an application under this section. The physical facilities trust fund

shall not replace the existing capital construction provisions and approp riation

provisions of state law. Each university or the Kentucky Community and Technical

College System may apply to the council for financial assistance from the physical

facilities trust fund. Financial assistance that may be awarded by the council shall

be consistent with the adopted strategic agenda, the biennial budget process, and the

availability of any resources to the physical facilities trust fund.