15-113.   Same; tax levies; surplus; cash basis and budget lawsinapplicable.Whenever no-fund warrants are issued under the authority of this act thegoverning body of such city shall make a tax levy each year for three (3)years in approximately equal installments for the purpose of paying suchwarrants and the interest thereon. All such tax levies shall be in additionto all other levies authorized or limited by law and shall not be subjectto the aggregate tax levy prescribed in article 19 of chapter 79 of theKansas Statutes Annotated, and any amendments thereto. Such warrants shallbe issued, registered, redeemed and bear interest in the manner and in theform prescribed by K.S.A. 79-2940, except they shall not bearthe notation required by said section and may be issued without theapproval of the state commission of revenue and taxation. Any surplusexisting after the redemption of such warrants shall be handled in themanner prescribed by K.S.A. 79-2940. None of the provisions ofthe cash-basis and budget laws of this state shall apply to anyexpenditures made, the payment of which has been provided for by theissuance of warrants under this act.

      History:   L. 1953, ch. 59, § 2; April 13.