19-3533. Issuance of no-fund warrants; tax levies; limitations inapplicable.
19-3533
19-3533. Issuance of no-fund warrants; tax levies; limitations
inapplicable.
In order to provide such funds as may be necessary to pay preliminary
engineering, financial and legal services to determine the advisability
of proceeding with the acquisition or construction of a water supply
system or to pay the expenses of the district during the acquisition or
construction of such system, the board may issue no-fund warrants in
like manner as other warrants which shall bear interest at a rate of not
more than the maximum rate of interest prescribed by K.S.A.
10-1009. Said warrants shall be recorded by the county
clerk and shall be redeemed as provided in article 8 of chapter 10 of
the Kansas Statutes Annotated and any amendments thereto. Such board is
hereby authorized and empowered to expend all moneys raised by no-fund
warrants issued under the provisions of this section although it has not
adopted a budget for the period during which such expenditures are made.
At the first tax levying period after the issuance of any such warrants,
the county clerk shall determine the rate of tax necessary to be levied
on all the taxable tangible property in the district to redeem said
warrants and to pay the interest thereon. Upon the determination of such
rate of tax, said county clerk shall certify same to the board of county
commissioners and said board of county commissioners shall levy such tax
on all the taxable tangible property in such district. Upon the
collection of such tax the county treasurer shall use the proceeds
thereof to pay such warrants and the interest due thereon. The tax
levies herein authorized shall be in addition to all other tax levies
authorized or limited by law.
History: L. 1961, ch. 473, § 12; L. 1970, ch. 64, §
68; March 21.