{"data":{"id":"us-ky/krs-162.140","jurisdiction":"us-ky","citation":"KRS 162.140","heading":"Lease of building by board of education.","body":"Immediately upon the approval of the plans and specifications as provided in KRS\n162.130, the board of education shall offer to lease the building for a term of one (1) year\nfrom the time the building is completed and ready for occupancy. The lease by its terms\nshall give the lessee the right and option to extend the term of the lease from year to year,\nfor periods of one (1) year, until the original term of the lease has been extended for a\ntotal number of years, acceptable to the city, not exceeding thirt y (30) years, at a rental\nwhich, if paid for the original term and for each of the full number of years for which the\nterm is extended, will amortize the total cost of the erection of the building and\nappurtenances, provide an adequate maintenance fund and , in addition thereto, a sum\nsufficient to pay the cost of insuring the building against loss or damage by fire and\nwindstorm or other calamity in such sum as may be agreed by the parties thereto.","path":["KRS Chapter 162"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=4040","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:12Z","sha256":"95685967cff02018ed1b3944b1d5a9040da4904ab1264bfc4500b0a9ba9938e8","source_id":"us-ky","stale":false,"prev":"us-ky/krs-162.130","next":"us-ky/krs-162.150"},"notice":"GroundRules: Original legal text. Not legal advice."}