12-1258.   Public libraries; capital improvement fund.The library board of any public library is herebyauthorized to direct a transfer annually from the general operating fund ofsuch library not to exceed 10% of the amount of money credited to such fundto a capital improvement fund. All money credited to suchfund shallbe used by the library board for the purpose of improving, furnishing,equipping, remodeling or making additions to the library. Such fund shallnot be subject to the provisions of K.S.A. 79-2925 to 79-2937 andamendments thereto. If the library board determines that money which hasbeen transferred to such fund or any part thereof is not needed forthe purpose for which transferred, the library board is hereby authorizedto direct a retransfer of such amount not needed to the general operatingfund and such retransfer and expenditure thereof shall be subject to theprovisions of K.S.A. 79-2925 to 79-2937 and amendments thereto.

      In making the budget of the library, the amounts credited to, and theamount on hand in, the capital improvement fund and the amount expendedtherefrom shall be shown on the budget for the information of the taxpayers ofthe municipality in which the library is located. Moneys in such fund maybe invested in accordance with the provisions of K.S.A. 10-131, andamendments thereto, with interest thereon credited to such fund.

      History:   L. 1986, ch. 62, § 1; July 1.