{"data":{"id":"us-ky/krs-45a.870","jurisdiction":"us-ky","citation":"KRS 45A.870","heading":"Procedure to take advantage of an innovation developed by a firm.","body":"(1) Notwithstanding the other provisions of KRS 45A.840 to 45A.879, this section\nshall govern the selection of an underwriter or a bond counsel to take advantage of\nan innovation developed by that firm.\n(2) The executive director may discuss with an underwrite r or a bond counsel an\ninnovation which the firm has developed or is developing.\n(3) If the executive director concludes that the Commonwealth will benefit from using\nthe innovation, then the executive director shall negotiate with the firm for it to\nprovide the innovation to the Commonwealth in exchange for the firm's\nemployment on certain bond issues.\n(4) After an agreement is reached, but before it is executed, the executive director shall\nseek the review and recommendation of the Capital Projects and Bo nd Oversight\nCommittee.\n(5) If the committee does not recommend the agreement, the agreement shall be\nreferred to the secretary of the Finance and Administration Cabinet who shall:\n(a) Revise the agreement in consideration of the committee's objections;\n(b) Cancel the agreement; or\n(c) Determine to enter into the agreement.\n(6) Within thirty (30) days after the secretary reaches his decision, it shall be\ntransmitted to the committee.","path":["KRS Chapter 45A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=22503","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:08Z","sha256":"eba00a1d5dd6710da55646a17c33117191d92d38aea249615d68b559efc9324b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-45a.867","next":"us-ky/krs-45a.873"},"notice":"GroundRules: Original legal text. Not legal advice."}