{"data":{"id":"us-ky/krs-164.410","jurisdiction":"us-ky","citation":"KRS 164.410","heading":"Acquisition and sale of property -- Disposition of surplus property.","body":"(1) The governing board of a postsecondary education institution may purchase or lease\nland under KRS 164A.575 for the purpose of securing the erection of buildings and\nmay receive by any legal mode of conveyance, purchase, and hold property under\nKRS 164A.575 of any description that the board deems necessary for the purposes\nof the school, and may build and construct improvements for such purposes and\nhold or sell the same. If a governing board is unable to agree with the owner of the\nreal estate as to its val ue, or to its purchase, it may proceed in its own name to\ncondemn the real estate in the manner provided in the Eminent Domain Act of\nKentucky. Real estate acquired by purchase or condemnation shall be paid for out of\nmoney appropriated to the institution.\n(2) The governing board of each institution shall periodically review the assets of the\ninstitution and shall sell and convey under KRS 164A.575 those assets not\nnecessary for implementing the institutional mission. Proceeds from the disposition\nshall be deposited in the unexpended plant fund account or in the fund for\nexcellence authorized by KRS 164A.620.\n(3) Any real property acquired under this section shall be in name of the\nCommonwealth for the use and benefit of the institution.","path":["KRS Chapter 164"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=4287","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:15Z","sha256":"ca532785d5b45602cde7ba80fdaa2a7537f7c8a9965001b956a67c84f1a1ee30","source_id":"us-ky","stale":false,"prev":"us-ky/krs-164.400","next":"us-ky/krs-164.420"},"notice":"GroundRules: Original legal text. Not legal advice."}