FCR 13
Office of the President April 22, 2008
Members, Board of Trustees:
AUTHORIZATION TO CONVEY THE COMMUNITY COLLEGE PROPERTIES TO KCTCS
Recommendation: that the Board of Trustees authorize the Executive Vice President for Finance and Administration to convey title to the community college properties ("Properties") to the Kentucky Community and Technical College System ("KCTCS"), except for the property which comprises the Bluegrass Community and Technical College System ("BCTCS").
Background: On December 9, 1997, pursuant to Section 19 of House Bill 1 of the First 1997 Extraordinary Session of the Kentucky General Assembly (the Kentucky Postsecondary Education Improvement Act of 1997) ("Act"), the Board of Trustees of the University of Kentucky delegated to the Board of Regents of KCTCS the management responsibilities for the University of Kentucky Community College System ("UKCCS"), except for the Lexington Community College (now known as BCTCS). These management responsibilities included, but were not limited to, management of the community college facilities and grounds.
These Properties were not transferred at the time of the passage of the Act due to UKCCS Revenue Bonds, which were outstanding at that time. The UKCCS Revenue Bonds have now been satisfied or defeased. The proposed conveyance of these Properties from the University to KCTCS will facilitate KCTCS management responsibilities.
These Properties are now surplus to the needs of the University and these proposed conveyances are in the best interest of the Commonwealth.
Action taken: Approved      □ Disapproved        □ Other