12-1677a.Municipal investment pool fund; investments; requirements; rules
and regulations.
(a) Moneys deposited by any municipality
with the state
treasurer for investment authorized in paragraph (5) of subsection
(b) of
K.S.A. 12-1675, and amendments thereto, shall be deposited in the municipal
investment pool fund which is hereby created in the state treasury.
The state treasurer shall provide the board a monthly record of the deposits
and withdrawals of municipalities. Such record may include the amount of the
deposit, the date of the deposit and
such other information as the pooled money investment board may require.
(b) The director of investments may
invest and
reinvest moneys in the
municipal investment pool fund in accordance with investment policies
established by the pooled money investment board under K.S.A. 75-4232, and
amendments thereto, and in accordance with K.S.A. 75-4234 and
75-4209, and amendments thereto.
(c) The director of investments shall apportion earnings and losses
among the accounts of the depositors in the various investment options of the
municipal investment pool in accordance with policies approved and published by
the board.
A statement for each municipality participating unit account
showing deposits, withdrawals, earnings and losses distributions shall be
provided monthly to the municipality.
The director of investments shall make
comprehensive reports monthly to those
municipalities
participating in the municipal investment pool fund and to other interested
parties requesting such reports. Such
reports shall include a summary of transactions for the month,
the current
market
value of the pooled money investment portfolio investments, the
weighted average maturity of the portfolio, the original costs of the
investments in the
portfolio, including any fees
associated with such investments
and such other relevant information the director of
investments
may wish to include in
such report.
(d) The municipal investment pool reserve fund is abolished effective July
1,
1996,
and any unencumbered balance remaining therein shall be applied to net losses
in the municipal investment pool fund. The municipal investment pool fund fee
fund is abolished on July 1, 1997, and any unencumbered balance remaining
therein shall be transferred to the pooled money investment portfolio fee fund
and such amounts shall be applied to net losses, as of July 1, 1996, in the
municipal investment pool fund.
(e) The pooled money investment board may adopt
rules and regulations necessary for the
administration and operation of
the municipal investment pool fund and may enter into agreements with any
municipality as to methods of deposits, withdrawals and investments.
(f) Deposits in the municipal investment pool fund: (1) May only
be made
for the same maturity as the maturity which is
offered under paragraph (2) of subsection (b) of
K.S.A. 12-1675 and
amendments thereto; and (2) upon the maturity of such deposits, such moneys
shall be offered for investment under paragraph
(2) of subsection (b)
of K.S.A. 12-1675, and amendments thereto, and may be reinvested in such fund
only if the conditions contained in subsection (c) of K.S.A. 12-1675, and
amendments thereto, have been satisfied.
(g) Moneys and investments in the municipal investment pool fund shall be
managed
by the pooled money investment board in accordance with investment policies
provided
for in K.S.A. 75-4209, and amendments thereto. A copy of
such published policies shall be distributed to all municipalities
participating in the municipal investment pool fund and to other interested
persons requesting a copy of such policies. The pooled money investment board
shall not contract for management of investments by a money manager.
History: L. 1992, ch. 146, § 1;
L. 1993, ch. 207, § 3;
L. 1995, ch. 194, § 1;
L. 1996, ch. 254, § 4;
L. 1997, ch. 180, § 16; May 29.
12-1677a.Municipal investment pool fund; investments; requirements; rules
and regulations.
(a) Moneys deposited by any municipality
with the state
treasurer for investment authorized in paragraph (5) of subsection
(b) of
K.S.A. 12-1675, and amendments thereto, shall be deposited in the municipal
investment pool fund which is hereby created in the state treasury.
The state treasurer shall provide the board a monthly record of the deposits
and withdrawals of municipalities. Such record may include the amount of the
deposit, the date of the deposit and
such other information as the pooled money investment board may require.
(b) The director of investments may
invest and
reinvest moneys in the
municipal investment pool fund in accordance with investment policies
established by the pooled money investment board under K.S.A. 75-4232, and
amendments thereto, and in accordance with K.S.A. 75-4234 and
75-4209, and amendments thereto.
(c) The director of investments shall apportion earnings and losses
among the accounts of the depositors in the various investment options of the
municipal investment pool in accordance with policies approved and published by
the board.
A statement for each municipality participating unit account
showing deposits, withdrawals, earnings and losses distributions shall be
provided monthly to the municipality.
The director of investments shall make
comprehensive reports monthly to those
municipalities
participating in the municipal investment pool fund and to other interested
parties requesting such reports. Such
reports shall include a summary of transactions for the month,
the current
market
value of the pooled money investment portfolio investments, the
weighted average maturity of the portfolio, the original costs of the
investments in the
portfolio, including any fees
associated with such investments
and such other relevant information the director of
investments
may wish to include in
such report.
(d) The municipal investment pool reserve fund is abolished effective July
1,
1996,
and any unencumbered balance remaining therein shall be applied to net losses
in the municipal investment pool fund. The municipal investment pool fund fee
fund is abolished on July 1, 1997, and any unencumbered balance remaining
therein shall be transferred to the pooled money investment portfolio fee fund
and such amounts shall be applied to net losses, as of July 1, 1996, in the
municipal investment pool fund.
(e) The pooled money investment board may adopt
rules and regulations necessary for the
administration and operation of
the municipal investment pool fund and may enter into agreements with any
municipality as to methods of deposits, withdrawals and investments.
(f) Deposits in the municipal investment pool fund: (1) May only
be made
for the same maturity as the maturity which is
offered under paragraph (2) of subsection (b) of
K.S.A. 12-1675 and
amendments thereto; and (2) upon the maturity of such deposits, such moneys
shall be offered for investment under paragraph
(2) of subsection (b)
of K.S.A. 12-1675, and amendments thereto, and may be reinvested in such fund
only if the conditions contained in subsection (c) of K.S.A. 12-1675, and
amendments thereto, have been satisfied.
(g) Moneys and investments in the municipal investment pool fund shall be
managed
by the pooled money investment board in accordance with investment policies
provided
for in K.S.A. 75-4209, and amendments thereto. A copy of
such published policies shall be distributed to all municipalities
participating in the municipal investment pool fund and to other interested
persons requesting a copy of such policies. The pooled money investment board
shall not contract for management of investments by a money manager.
History: L. 1992, ch. 146, § 1;
L. 1993, ch. 207, § 3;
L. 1995, ch. 194, § 1;
L. 1996, ch. 254, § 4;
L. 1997, ch. 180, § 16; May 29.
12-1677a.Municipal investment pool fund; investments; requirements; rules
and regulations.
(a) Moneys deposited by any municipality
with the state
treasurer for investment authorized in paragraph (5) of subsection
(b) of
K.S.A. 12-1675, and amendments thereto, shall be deposited in the municipal
investment pool fund which is hereby created in the state treasury.
The state treasurer shall provide the board a monthly record of the deposits
and withdrawals of municipalities. Such record may include the amount of the
deposit, the date of the deposit and
such other information as the pooled money investment board may require.
(b) The director of investments may
invest and
reinvest moneys in the
municipal investment pool fund in accordance with investment policies
established by the pooled money investment board under K.S.A. 75-4232, and
amendments thereto, and in accordance with K.S.A. 75-4234 and
75-4209, and amendments thereto.
(c) The director of investments shall apportion earnings and losses
among the accounts of the depositors in the various investment options of the
municipal investment pool in accordance with policies approved and published by
the board.
A statement for each municipality participating unit account
showing deposits, withdrawals, earnings and losses distributions shall be
provided monthly to the municipality.
The director of investments shall make
comprehensive reports monthly to those
municipalities
participating in the municipal investment pool fund and to other interested
parties requesting such reports. Such
reports shall include a summary of transactions for the month,
the current
market
value of the pooled money investment portfolio investments, the
weighted average maturity of the portfolio, the original costs of the
investments in the
portfolio, including any fees
associated with such investments
and such other relevant information the director of
investments
may wish to include in
such report.
(d) The municipal investment pool reserve fund is abolished effective July
1,
1996,
and any unencumbered balance remaining therein shall be applied to net losses
in the municipal investment pool fund. The municipal investment pool fund fee
fund is abolished on July 1, 1997, and any unencumbered balance remaining
therein shall be transferred to the pooled money investment portfolio fee fund
and such amounts shall be applied to net losses, as of July 1, 1996, in the
municipal investment pool fund.
(e) The pooled money investment board may adopt
rules and regulations necessary for the
administration and operation of
the municipal investment pool fund and may enter into agreements with any
municipality as to methods of deposits, withdrawals and investments.
(f) Deposits in the municipal investment pool fund: (1) May only
be made
for the same maturity as the maturity which is
offered under paragraph (2) of subsection (b) of
K.S.A. 12-1675 and
amendments thereto; and (2) upon the maturity of such deposits, such moneys
shall be offered for investment under paragraph
(2) of subsection (b)
of K.S.A. 12-1675, and amendments thereto, and may be reinvested in such fund
only if the conditions contained in subsection (c) of K.S.A. 12-1675, and
amendments thereto, have been satisfied.
(g) Moneys and investments in the municipal investment pool fund shall be
managed
by the pooled money investment board in accordance with investment policies
provided
for in K.S.A. 75-4209, and amendments thereto. A copy of
such published policies shall be distributed to all municipalities
participating in the municipal investment pool fund and to other interested
persons requesting a copy of such policies. The pooled money investment board
shall not contract for management of investments by a money manager.
History: L. 1992, ch. 146, § 1;
L. 1993, ch. 207, § 3;
L. 1995, ch. 194, § 1;
L. 1996, ch. 254, § 4;
L. 1997, ch. 180, § 16; May 29.