Kentucky Statutes 107.420 – Contract of lease prior to acquisition of site and construction of buildings
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Any governmental unit within the territorial limits of the county may, in anticipation of the construction and erection of such buildings, including the necessary equipment and appurtenances thereof, make and enter into a contract of lease with such district prior to the actual acquisition of a site, if a site is to be acquired, and the construction and erection of such buildings.
History: Created 1970 Ky. Acts ch. 155, sec. 10.
History: Created 1970 Ky. Acts ch. 155, sec. 10.
Terms Used In Kentucky Statutes 107.420
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC