All built-to-suit lease agreements shall be reviewed by the Office of Financial Management within the Office of the Controller prior to execution on behalf of the Commonwealth by the secretary of the Finance and Administration Cabinet or on behalf of an institution in accordance with KRS § 164A.630, and approved for form and legality by the Attorney General or an assistant attorney general, before they shall be binding against the Commonwealth. All the leases shall be lodged for record and recorded in the office of the county clerk of the county in which the leased property is located.
Effective: June 20, 2005

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Terms Used In Kentucky Statutes 56.8177

  • Attorney: means attorney-at-law. See Kentucky Statutes 446.010
  • Cabinet: means the Finance and Administration Cabinet. See Kentucky Statutes 56.440
  • 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

History: Amended 2005 Ky. Acts ch. 85, sec. 82, effective June 20, 2005. — Amended
2003 Ky. Acts ch. 98, sec. 15, effective June 24, 2003. — Created 1992 Ky. Acts ch.
54, sec. 10, effective July 14. 1992.