Last Updated on Saturday, March 31, 2012 at 3:30 PM
Under the provisions of KRS 156.070, the Kentucky Board of Education has set regulations governing the issuance of capital construction and renovation bonds and school revenue bonds. KRS 162.080 to 162.300 set forth the methods and authorization for school districts to finance capital construction projects and to issue refunding bonds. 702 KAR 3:020 sets out the factors to be included in determining the level of debt that can be supported by a school district and requires the Commissioner of Education to disapprove the sale of any school revenue bond issue which he deems to be financially unsound. The school districts' Working Budgets, submitted annually, are reviewed under KRS 160.470 to determine that the proper amounts are budgeted for the payment of principal and interest on any revenue bond debt. If the proper amount is not budgeted, a revised budget is required to be submitted.
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Cash Requirements
(Updated 1-11-12)
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District Debt Service Reports as of 1-11-12
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