12-6a13. Improvements; special improvement fund; tax levy, use of proceeds; limitation on fund.
12-6a13
12-6a13. Improvements; special improvement fund; tax levy, use of proceeds;
limitation on fund.
Any city proposing to make any improvements under the authority of the
act may by ordinance establish a "special improvement fund" in the city
treasury, and levy an annual tax on the assessed taxable tangible
property of the city for the purposes of such fund and to pay a portion
of the principal and interest on bonds issued by such city under the authority
of K.S.A. 12-1774, and amendments thereto. Such fund may be
used to pay the cost of planning any improvement hereunder and for
preparing preliminary plans, studies and engineering reports preparatory
to the consideration of the feasibility of any improvement and to pay
the initial cost of such improvements when ordered by the governing body
and until temporary notes or improvement bonds shall have been issued
and sold, except that such fund shall be reimbursed from the proceeds
of such improvement bond funds. The special
improvement fund shall not exceed one percent (1%) of the total assessed
tangible valuation of the city for the preceding year or one hundred
thousand dollars ($100,000), whichever amount is less. Such fund need
not be budgeted for expenditure during any year but the amount thereof
shall be stated in the published budget of expenditures. All grants in
aids or contributions made to the city for planning and preparation of
plans for improvements made under this act may be credited to the
special improvement fund and the amount of such aid or contribution
shall be in addition to the amount of such fund otherwise limited by
this section.
History: L. 1957, ch. 99, § 13; L. 1970, ch. 69, § 7; L.
1975, ch. 494, § 7; L. 1979, ch. 52, § 34; July 1.