15-113. Same; tax levies; surplus; cash basis and budget laws inapplicable.
15-113
15-113. Same; tax levies; surplus; cash basis and budget laws
inapplicable.
Whenever no-fund warrants are issued under the authority of this act the
governing body of such city shall make a tax levy each year for three (3)
years in approximately equal installments for the purpose of paying such
warrants and the interest thereon. All such tax levies shall be in addition
to all other levies authorized or limited by law and shall not be subject
to the aggregate tax levy prescribed in article 19 of chapter 79 of the
Kansas Statutes Annotated, and any amendments thereto. Such warrants shall
be issued, registered, redeemed and bear interest in the manner and in the
form prescribed by K.S.A. 79-2940, except they shall not bear
the notation required by said section and may be issued without the
approval of the state commission of revenue and taxation. Any surplus
existing after the redemption of such warrants shall be handled in the
manner prescribed by K.S.A. 79-2940. None of the provisions of
the cash-basis and budget laws of this state shall apply to any
expenditures made, the payment of which has been provided for by the
issuance of warrants under this act.
History: L. 1953, ch. 59, § 2; April 13.