2-131e. No-fund warrants for purchase of grounds, erection and maintenance of buildings; limitation; tax levies.
2-131e
2-131e. No-fund warrants for purchase of grounds,
erection and
maintenance of buildings; limitation; tax levies.
Whenever the board of county commissioners of any county in which there
is a county fair association officially recognized by the secretary of
agriculture, and having a population of not less
than 35,000 nor more than 45,000, and having an
assessed tangible valuation of not less than $50,000,000 and not more
than $80,000,000, shall
determine, upon the request of such fair association, that it is in the
best interest of the county to raise funds for the purchase of grounds or
the erection and maintenance of buildings for such fair association,
such board of commissioners is hereby authorized and
empowered to issue no-fund warrants in an amount not to exceed, in the
aggregate, $5,000 for the purposes
stated hereinbefore. No-fund warrants
issued hereunder shall be issued in the manner and form and bear interest
and be redeemed as prescribed by K.S.A. 79-2940, and amendments thereto,
except that they may be
issued without the approval of
the state court of tax appeals, and without the notation
required by K.S.A. 79-2940, and amendments thereto. The
authority to issue no-fund warrants, as provided herein, shall not be exercised
by the board of county commissioners more than once in any ten-year
period. Such warrants shall mature serially in
approximately equal annual installments at such yearly dates as to be payable
by not more than five tax levies, and the board of county
commissioners issuing such warrants shall make a tax levy at the first tax
levying period after such warrants are issued, and at such of the next
succeeding tax levying periods as may be required, sufficient to pay such
warrants as they mature and the interest thereon as the same becomes due.
The money collected from issuance of
such warrants shall be paid to such fair associations for
the purposes herein specified. Such tax levy or levies shall be in
addition to
all other tax levies authorized or limited by law and shall not be subject to
or within the aggregate tax levy limit prescribed by K.S.A. 79-1947, and
amendments thereto.
History: L. 1967, ch. 3, § 3;
L. 2004, ch. 101, § 7;
L. 2008, ch. 109, § 21; July 1.