12-1,118.   Multi-year capital improvement fund; purpose; investment andtransfer of moneys in fund.(a) The governing body of any city, which has formallyapproved a multi-year capital improvement plan setting forth the publicimprovement and infrastructure needs of the city on a prioritized basis,may establish, by adoption of an ordinance, a capital improvements fund.The ordinance establishing such fund, and any amendments thereto, mayprovide for the budgeted transfer of moneys from other city funds lawfully available forimprovement purposes to the capital improvements fund, including moneys inthe city's federal general revenue sharing fund and general fund. Anygeneral property tax specifically levied for the use of such fund shall beauthorized by ordinance adopted under the provisions of section 5 ofarticle 12 of the Kansas constitution.

      (b)   Moneys in such capital improvements fund may be used to finance, inwhole or in part, any public improvement need set forth in the adoptedcapital improvement plan, including the repair, restoration andrehabilitation of existing public facilities. The ordinance may providethat disbursements from such fund may be made for engineering and otheradvance public improvement plans and studies and that reimbursements maybe made to the fund from bond proceeds, specialassessments or state or federal aid available for the completed project.

      (c)   Except for such reimbursed expenses, no moneys shall be credited tosuch special fund except as may be budgeted annually, or transferred by theannual budget fromother funds. Such fund shall not thereafter be subject to theprovisions of K.S.A. 79-2925 to 79-2937, inclusive, and amendments thereto.In making the budgets of such cities, the amounts credited to, and theamount on hand in, such special fund and the amount expended therefromshall be shown thereon for the information of the taxpayers of such cities.Moneys in such fund may be invested in accordance with the provisions ofK.S.A. 10-131, and amendments thereto, with interest thereon credited to such fund.

      (d)   If the governing body of any city determines that money which hasbeen transferred to such special fund or any part thereof is not needed forthe purposes for which so transferred, the governing body, by adoption ofa resolution, may transfer such amount not needed to the general or otherfund from which it was derived and such transfer and expenditure thereofshall be subject to the budget requirement provisions of K.S.A. 79-2925 to79-2937, inclusive, and amendments thereto.

      History:   L. 1985, ch. 67, § 1; July 1.