{"data":{"id":"us-ky/krs-45a.843","jurisdiction":"us-ky","citation":"KRS 45A.843","heading":"Selection committees.","body":"(1) One (1) or more selection committees shall be created in the Office of Financial\nManagement. Each selection committee shall have the authority to participate in the\nselection of both underwriters and bond counsel.\n(2) Except as provided in KRS 45A.867 and 45A.870, a selection committee shall\nparticipate in every instance of a bond issuing agency hiring an underwriter or bond\ncounsel on behalf of a bond issuing agency.\n(3) A selection committee created in the office shall consist of the following six (6) or\nmore members selected in the manner specified within each paragraph:\n(a) Three (3) employees of the office other than the executive director. The\nexecutive director shall select the three (3) employees;\n(b) Two (2) employees of the bond issuing agency appo inted by the head of that\nagency to participate in the hiring of an underwriter or a bond counsel for that\nagency. However, at the discretion of the head of the bond issuing agency, he\nmay substitute for one (1) of his employees an employee of the agency w hose\nproject will be funded by the bond proceeds; and\n(c) One (1) or more merit employees of the Auditor of Public Accounts,\nappointed by the Auditor. The merit employees shall serve as nonvoting\nmembers of the committee. If one (1) employee is appointed, then that\nemployee shall attend all committee proceedings. If more than one (1)\nemployee is appointed, then at least one (1) of the employees shall attend any\ncommittee proceeding.\n(4) (a) All selection committee members shall have experience which qualifi es them\nto serve on the committee.\n(b) Any individual appointed to serve by the executive director or the Auditor of\nPublic Accounts shall serve an initial one (1) year term and may be\nreappointed to serve for additional successive one (1) year terms. He s hall\nserve until his successor is appointed and qualified. A successor or a\nreplacement, in the case of a vacancy, shall be appointed in the same manner\nas the initial appointee.\n(c) A selection committee member appointed by the head of a bond issuing\nagency shall serve for the duration of the selection committee's participation in\nthe hiring of an underwriter and a bond counsel for his agency. A replacement,\nin the case of a vacancy, shall be appointed in the same manner as the initial\nappointee.","path":["KRS Chapter 45A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=22495","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:08Z","sha256":"a23c08f15d8c9add5edccd003fce51842dcbb9bd65d7f945d05f58d4e6c5ed31","source_id":"us-ky","stale":false,"prev":"us-ky/krs-45a.840","next":"us-ky/krs-45a.847"},"notice":"GroundRules: Original legal text. Not legal advice."}