12-17,176.STAR bond projects using state financing;
annual audit at municipality expense, scope; reporting, repayment,
when.
(a) STAR bond projects using state sales tax financing
pursuant to
K.S.A. 2009 Supp.
12-17,169, and amendments thereto,
shall be audited by an independent certified public accountant annually at the
expense of the city or county. The audit report shall supplement the annual
report required pursuant to
K.S.A. 2009 Supp.
12-17,169, and amendments
thereto.
(b) Such audits shall determine whether bond financing obtained under K.S.A.
2009 Supp. 12-17,169, and amendments thereto, is being used only for authorized
purposes. Audit
results shall be reported to the house economic development and tourism
committee, the senate commerce committee, or successor committees, the governor
and the secretaries of commerce and revenue during the legislative session
immediately following the audit.
(c) If audit findings indicate that bond funds have been used for
unauthorized or ineligible purposes, the city or county shall repay to the bond
fund all such unauthorized or ineligible expenditures. Such city or county
shall enter into a repayment agreement with the secretary of revenue specifying
the terms of such repayment obligation.
12-17,176.STAR bond projects using state financing;
annual audit at municipality expense, scope; reporting, repayment,
when.
(a) STAR bond projects using state sales tax financing
pursuant to
K.S.A. 2009 Supp.
12-17,169, and amendments thereto,
shall be audited by an independent certified public accountant annually at the
expense of the city or county. The audit report shall supplement the annual
report required pursuant to
K.S.A. 2009 Supp.
12-17,169, and amendments
thereto.
(b) Such audits shall determine whether bond financing obtained under K.S.A.
2009 Supp. 12-17,169, and amendments thereto, is being used only for authorized
purposes. Audit
results shall be reported to the house economic development and tourism
committee, the senate commerce committee, or successor committees, the governor
and the secretaries of commerce and revenue during the legislative session
immediately following the audit.
(c) If audit findings indicate that bond funds have been used for
unauthorized or ineligible purposes, the city or county shall repay to the bond
fund all such unauthorized or ineligible expenditures. Such city or county
shall enter into a repayment agreement with the secretary of revenue specifying
the terms of such repayment obligation.
12-17,176.STAR bond projects using state financing;
annual audit at municipality expense, scope; reporting, repayment,
when.
(a) STAR bond projects using state sales tax financing
pursuant to
K.S.A. 2009 Supp.
12-17,169, and amendments thereto,
shall be audited by an independent certified public accountant annually at the
expense of the city or county. The audit report shall supplement the annual
report required pursuant to
K.S.A. 2009 Supp.
12-17,169, and amendments
thereto.
(b) Such audits shall determine whether bond financing obtained under K.S.A.
2009 Supp. 12-17,169, and amendments thereto, is being used only for authorized
purposes. Audit
results shall be reported to the house economic development and tourism
committee, the senate commerce committee, or successor committees, the governor
and the secretaries of commerce and revenue during the legislative session
immediately following the audit.
(c) If audit findings indicate that bond funds have been used for
unauthorized or ineligible purposes, the city or county shall repay to the bond
fund all such unauthorized or ineligible expenditures. Such city or county
shall enter into a repayment agreement with the secretary of revenue specifying
the terms of such repayment obligation.
