KRS 164A.600: Procedures and limitations of KRS 45.750 through 45.800 and KRS

Chapter 45A apply -- Projects limited to scope authorized by General

Assembly.

(1) The procedures and limitations related to capital construction and equipment

purchases set forth in KRS 45.750 through 45.800 and for construction of capital

projects set forth in KRS Chapter 45A shall apply to the governing boards. The

governing boards shall establish a contingency fund and an emergency repair,

maintenance and replacement fund in their pla nt fund records. Transfer and use of

these funds shall be governed by the provisions of KRS 45.770 and 45.780, as

appropriate, except that the governing boards of each university shall perform the

functions assigned to the Finance and Administration Cabine t in KRS 45.770 and

45.780.

(2) Capital construction and equipment purchase projects established by the governing

boards shall be limited to the scope authorized by the General Assembly, and the

total costs of each project shall not exceed the appropriatio n; except for emergency

projects that may arise. In such instances, the governing boards may transfer funds

from other projects or from operating funds; however each emergency project that is

authorized by the board and sources of funds shall be promptly r eported to the

Capital Projects and Bond Oversight Committee.