10-1116b.   Lease, lease-purchase or installment-purchase agreements;agreements for electricinterconnection or transmission facilities; when allowed under cash-basis law.Nothing in the provisions of K.S.A. 10-1101 et seq., and amendmentsthereto, shall prohibit amunicipality from entering into (1) an agreement to pay for electric interconnectionor transmission facilities or services, (2) a lease agreement, withoutan option to buy, or (3) a lease-purchaseagreement, if any of suchagreements specifically state that the municipality is obligated only topay periodic payments or monthly installments under the agreement as maylawfully be made from (a) funds budgeted and appropriated for that purposeduring such municipality's current budget year or (b) funds made availablefrom any lawfully operated revenue producing source.For the purpose of this act, a lease-purchase agreement shall include alease with an option to buy or an installment-purchase agreement.

      History:   L. 1980, ch. 51, § 1;L. 1990, ch. 74, § 2; May 24.