12-1258. Public libraries; capital improvement fund.
12-1258
12-1258. Public libraries; capital improvement fund.
The library board of any public library is hereby
authorized to direct a transfer annually from the general operating fund of
such library not to exceed 10% of the amount of money credited to such fund
to a capital improvement fund. All money credited to such
fund shall
be used by the library board for the purpose of improving, furnishing,
equipping, remodeling or making additions to the library. Such fund shall
not be subject to the provisions of K.S.A. 79-2925 to 79-2937 and
amendments thereto. If the library board determines that money which has
been transferred to such fund or any part thereof is not needed for
the purpose for which transferred, the library board is hereby authorized
to direct a retransfer of such amount not needed to the general operating
fund and such retransfer and expenditure thereof shall be subject to the
provisions of K.S.A. 79-2925 to 79-2937 and amendments thereto.
In making the budget of the library, the amounts credited to, and the
amount on hand in, the capital improvement fund and the amount expended
therefrom shall be shown on the budget for the information of the taxpayers of
the municipality in which the library is located. Moneys in such fund may
be invested in accordance with the provisions of K.S.A. 10-131, and
amendments thereto, with interest thereon credited to such fund.
History: L. 1986, ch. 62, § 1; July 1.