19-120. Multi-year capital improvement fund; purpose; investment and transfer of moneys in fund.
19-120
19-120. Multi-year capital improvement fund; purpose; investment and
transfer of moneys in fund.
(a) The board of county commissioners of any county, which has formally
approved a multi-year capital improvement plan setting forth the public
improvement and infrastructure needs of the county on a prioritized basis,
may establish, by adoption of a resolution, a capital improvements fund.
The resolution establishing such fund, and any amendments thereto, may
provide for the budgeted transfer of moneys from other county funds
lawfully available for improvement purposes to the capital improvements
fund, including moneys in the county's federal general revenue sharing fund
and general fund. Any general property tax specifically levied for the use
of such fund shall be authorized by resolution adopted under the provisions
of K.S.A. 19-101a, and amendments thereto.
(b) Moneys in such capital improvements fund may be used to finance, in
whole or in part, any public improvement need set forth in the adopted
capital improvement plan, including the repair, restoration and
rehabilitation of existing public facilities. The resolution may provide
that disbursements from such fund may be made for engineering and other
advance public improvement plans and studies and that reimbursements may
be made to the fund from bond proceeds, special
assessments or state or federal aid available for the completed project.
(c) Except for such reimbursed expenses, no moneys shall be credited to
such special fund except as may be budgeted annually, or transferred by the
annual budget from other funds. Such fund shall not thereafter be subject
to the provisions of K.S.A. 79-2925 to 79-2937, inclusive, and amendments
thereto. In making the budgets of such counties, the amounts credited to,
and the amount on hand in, such special fund and the amount expended
therefrom shall be shown thereon for the information of the taxpayers of
such counties. 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.
(d) If the board of county commissioners determines that money which has
been transferred to such special fund or any part thereof is not needed for
the purposes for which so transferred, the board, by adoption of a
resolution, may transfer such amount not needed to the general or other
fund from which it was derived and such transfer and expenditure thereof
shall be subject to the budget requirement provisions of K.S.A. 79-2925 to
79-2937, inclusive, and amendments thereto.
History: L. 1987, ch. 91, § 2; July 1.