Lexington Public Schools Building Corporation

The organization, through the Lexington Public Schools, will complete renovations and new construction projects on certain buildings. There is a lease-purchase agreement and Building site lease between the Lexington Public Schools and the organization. The Lexington Public Schools will make periodic construction progress payments and lease payments as approved and recommended by the project architects. Any monies received by the organization from the Lexington Public school that is not immediately disbursed will be invested. On termination of the lease-purchase agreeement, the organization will convey and transfer any leased premises to Lexington Public Schools. The primary exempt purpose is to assist the Lexington Public Schools to provide facilities to educate the students in the Lexington Public Schools.