19-2635. Funds lost by bank failure; powers of county commissioners; tax levy, use of proceeds; bonds.
19-2635
19-2635. Funds lost by bank failure; powers of county commissioners;
tax levy, use of proceeds; bonds.
That in any county of this state which had funds in a depository bank
which has failed and liquidation thereof completed, and the county has
not fully recovered such loss but has continued to carry and is now
carrying the amount of such loss as cash, the board of county
commissioners may either: (a) By resolution, charge off upon the records
the amount of such defunct bank balances where said moneys so lost have
been restored in part, or in whole, by tax levies or otherwise, and
shall be charged against the county general fund, or (b) by resolution,
make a levy or levies to raise the necessary funds to restore the funds
so lost and to pay a portion of the principal and interest on bonds issued
under the authority of K.S.A. 12-1774, and amendments thereto,
by cities located in the county, or (c) by resolution, issue bonds of
said county to restore
such lost funds in a sum not to exceed such loss.
History: L. 1937, ch. 201, § 1; L. 1979, ch. 52, § 112; July 1.