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Title 702 | Chapter 001 | Regulation 080

702 KAR 1:080.Transfer of annexed property; hearing.

Section 1.

Upon receipt of a petition of a board of education by reason of the provisions of KRS 160.045, the chief state school officer, or his designated representative, shall conduct an impartial investigation of the facts and conditions attendant to the proposed annexation and provide each affected board of education a report which sets forth the factual findings of his investigation and his recommendations based upon those findings.

Section 2.

The Kentucky Board of Education shall, in case of approval of transfer of property:


Specify the effective date of transfer;


Determine the ratio of the current assessed value of all property in the district relinquishing the property;


Specify the amount required to repay the transferred property's proportionate share of the district's current bonded indebtedness;


Calculate the amount and when payment shall be made to the district relinquishing the property; and


Specify pertinent details which will affect the transfer of property.

HISTORY: (2 Ky.R. 394; eff. 3-10-1976; 6 Ky.R. 496; eff. 5-7-1980; 17 Ky.R. 424; eff. 10-14-1990; 23 Ky.R. 1426; 2467; eff. 12-5-1996; Crt eff. 11-16-2018.)

7-Year Expiration: 11/16/2025

Last Action: 12/15/2021

Page Generated: 2/15/2022, 12:12:13 PM