10-1116a.Cash basis law; exemptions.
The limitations on expenditures imposed under
the cash-basis law shall not apply to:
(a) Expenditures in excess of
current revenues made for municipally owned and operated utilities out of
the fund of such utilities caused by, or resulting from the meeting of,
extraordinary emergencies including drought emergencies. In such cases
expenditures in excess of current
revenues may be made by declaring an extraordinary emergency by resolution
adopted by the governing body and such resolution shall be published at
least once in a newspaper of general circulation in such city. Thereupon,
such governing body may issue interest bearing no-fund warrants on such
utility fund in an amount, including outstanding previously issued no-fund
warrants, not to exceed 25% of the revenues from
sales of service of such utility for the preceding year. Such warrants
shall be redeemed within three years from date of issuance and shall
bear interest at a rate of not to exceed the maximum rate of interest
prescribed by K.S.A. 10-1009, and amendments thereto. Upon the
declaration of a drought emergency, the governing body may issue such
warrants for water system improvement purposes in an amount not to exceed
50% of the revenue received from the sale of water for the preceding year.
Such warrants shall be redeemed within five years from the date of issuance
and shall bear interest at a rate not to exceed the maximum rate of
interest prescribed by K.S.A. 10-1009, and amendments thereto.
(b) Expenditures in any month by school districts which are in excess
of current
revenues if the deficit or shortage in revenues is caused by, or
a result of, the payment of state aid after
the date prescribed for the payment of state aid during such month under
K.S.A. 72-6417 or 72-6434, and amendments thereto.
History: L. 1941, ch. 98, § 2;
L. 1970, ch. 64, § 7;
L. 1989, ch. 54, § 1;
L. 2003, ch. 25, § 2;
L. 2003, ch. 139, § 1;
L. 2009, ch. 139, § 1; May 28.
10-1116a.Cash basis law; exemptions.
The limitations on expenditures imposed under
the cash-basis law shall not apply to:
(a) Expenditures in excess of
current revenues made for municipally owned and operated utilities out of
the fund of such utilities caused by, or resulting from the meeting of,
extraordinary emergencies including drought emergencies. In such cases
expenditures in excess of current
revenues may be made by declaring an extraordinary emergency by resolution
adopted by the governing body and such resolution shall be published at
least once in a newspaper of general circulation in such city. Thereupon,
such governing body may issue interest bearing no-fund warrants on such
utility fund in an amount, including outstanding previously issued no-fund
warrants, not to exceed 25% of the revenues from
sales of service of such utility for the preceding year. Such warrants
shall be redeemed within three years from date of issuance and shall
bear interest at a rate of not to exceed the maximum rate of interest
prescribed by K.S.A. 10-1009, and amendments thereto. Upon the
declaration of a drought emergency, the governing body may issue such
warrants for water system improvement purposes in an amount not to exceed
50% of the revenue received from the sale of water for the preceding year.
Such warrants shall be redeemed within five years from the date of issuance
and shall bear interest at a rate not to exceed the maximum rate of
interest prescribed by K.S.A. 10-1009, and amendments thereto.
(b) Expenditures in any month by school districts which are in excess
of current
revenues if the deficit or shortage in revenues is caused by, or
a result of, the payment of state aid after
the date prescribed for the payment of state aid during such month under
K.S.A. 72-6417 or 72-6434, and amendments thereto.
History: L. 1941, ch. 98, § 2;
L. 1970, ch. 64, § 7;
L. 1989, ch. 54, § 1;
L. 2003, ch. 25, § 2;
L. 2003, ch. 139, § 1;
L. 2009, ch. 139, § 1; May 28.
10-1116a.Cash basis law; exemptions.
The limitations on expenditures imposed under
the cash-basis law shall not apply to:
(a) Expenditures in excess of
current revenues made for municipally owned and operated utilities out of
the fund of such utilities caused by, or resulting from the meeting of,
extraordinary emergencies including drought emergencies. In such cases
expenditures in excess of current
revenues may be made by declaring an extraordinary emergency by resolution
adopted by the governing body and such resolution shall be published at
least once in a newspaper of general circulation in such city. Thereupon,
such governing body may issue interest bearing no-fund warrants on such
utility fund in an amount, including outstanding previously issued no-fund
warrants, not to exceed 25% of the revenues from
sales of service of such utility for the preceding year. Such warrants
shall be redeemed within three years from date of issuance and shall
bear interest at a rate of not to exceed the maximum rate of interest
prescribed by K.S.A. 10-1009, and amendments thereto. Upon the
declaration of a drought emergency, the governing body may issue such
warrants for water system improvement purposes in an amount not to exceed
50% of the revenue received from the sale of water for the preceding year.
Such warrants shall be redeemed within five years from the date of issuance
and shall bear interest at a rate not to exceed the maximum rate of
interest prescribed by K.S.A. 10-1009, and amendments thereto.
(b) Expenditures in any month by school districts which are in excess
of current
revenues if the deficit or shortage in revenues is caused by, or
a result of, the payment of state aid after
the date prescribed for the payment of state aid during such month under
K.S.A. 72-6417 or 72-6434, and amendments thereto.
History: L. 1941, ch. 98, § 2;
L. 1970, ch. 64, § 7;
L. 1989, ch. 54, § 1;
L. 2003, ch. 25, § 2;
L. 2003, ch. 139, § 1;
L. 2009, ch. 139, § 1; May 28.