13-13a23.   Bond issues authorized; limitations; sinking fund; tax levies;accumulation of fund for buildings; permanent improvements or capitalizedequipment; expenditures.(a) The board of regents of any municipal university heretofore or hereaftercreated and established under the provisions of article 13a of chapter 13of the Kansas Statutes Annotated, and amendments thereto, shall have thecontinuingright, power and authority, by resolution, to issue bonds of such municipaluniversity from time to time, for the purpose of acquiring real estate,erecting buildings or additions to present buildings and the purchase ofequipment for such buildings and for refunding any indebtedness of suchuniversity. There shall not be outstanding at any one time an aggregateof bonds of the municipal university in excess of2% of the assessed valuation of the taxable tangible property withinthe corporate limits of the city in which theuniversity is located. The bonds shall bearinterest at a rate notexceeding the maximum rate of interest prescribed by K.S.A. 10-1009and amendments thereto andshall mature not later than 30 years from date of issuance.

      (b)   Provisions for the payment of bonds issued under thissection shall be made by the establishmentof a sinking fund to be created out of the proceeds derived from the taxeslevied each year by the board of regents of such municipal universitypursuant to subsection (c) of this section.

      (c)   The board of regents is hereby authorized to levy taxes on alltaxable tangible property within the corporate limits of the city in whichthe university islocated to providefor (1) the sinking fund established under subsection (b); (2) theconstruction, reconstruction,or equipping of new or existing buildings; and (3) for any othercapitalized equipment or permanentimprovements. Except as provided in subsection (d), such taxes shall bein addition to all taxes which may be levied by the board ofregents pursuant to K.S.A.13-13a18 and amendments theretoand shall not exceed 3 mills in any one year.

      (d)   The board of regents which has levied a retailers' sales tax under theprovisions of this actshall levy no other property tax except asauthorized by K.S.A. 13-13a23, and amendments thereto, and K.S.A. 75-6111, andamendments thereto.

      (e)   The proceeds from the tax levy authorized underthis section, otherthan that portion of the proceeds for the sinking fund, may beaccumulated from year to year and expendedfor the construction, reconstruction or equipping ofnew or existing buildings,permanent improvements or capitalized equipment or for any one or more ofsuch purposes, and shall notbe subject to the provisions of the budget laws, except that in making thebudget of the municipal university the amount so accumulated and the amountexpended thereof shall be shown therein for the information of the taxpayers.

      History:   L. 1931, ch. 89, § 1; L. 1937, ch. 136, § 2; L. 1947,ch. 142, § 1; L. 1951, ch. 158, § 2; L. 1953, ch. 90, § 1; L. 1965,ch. 135, § 1; L. 1970, ch. 64, § 33; L. 1976, ch. 87, § 21; L.1978, ch. 99, § 19;L. 1985, ch. 81, § 1;L. 1988, ch. 83, § 1;L. 1989, ch. 68, § 1;L. 1990, ch. 66, § 19;L. 1997, ch. 83, § 1;L. 1999, ch. 88, § 6; Apr. 15.