(1) The School Facilities Construction Commission is hereby authorized to issue revenue bonds for the purpose of financing projects authorized by the General Assembly based upon lease rental agreements with the Kentucky Department of Education for the purpose of:
(a) Acquiring sites and building vocational schools which are to be owned by the state and operated by the Department of Education;
(b) Constructing additions and extensions to the School for the Deaf and the School for the Blind which are owned by the state and operated by the Department of Education; and (c) Building projects for vocational rehabilitation programs which are owned by the state and operated by the Department of Education.
(2) In exercising the authority in subsection (1) of this section, the commission will act under the applicable provisions of KRS Chapter 56.