Article 37.--SEWAGE DISPOSAL FACILITIES AND IMPROVEMENTS
12-3724.Self-insurance reserve fund; investment by
director of investments; acceptance of moneys from other entities; tax
exemption.
(a) The director of investments may
invest and
reinvest moneys in
the self-insurance reserve fund in accordance with investment policies
established by the pooled money investment board under K.S.A. 75-4232, and
amendments thereto, in obligations of the United States of
America or obligations the principal and interest of which are guaranteed
by the United States of America or in interest-bearing time deposits in any
commercial bank located in Kansas, or, if the director of
investments
determines that it is impossible to deposit such moneys in such time
deposits, in repurchase agreements of less than 30 days' duration
with a Kansas bank
or with a primary government securities dealer which reports to the
market reports division of the federal reserve bank of New York
for direct obligations of, or obligations that are
insured as to principal and interest by, the United States government or
any agency thereof.
(b) For the purposes of this act the director of investments
may
accept funds, public or
private, from any person, firm, corporation or from any state agency or
other public instrumentality, or from the federal government or any
department or agency thereof.
(c) All moneys in the self-insurance reserve fund, or payable to such
fund, are hereby specifically exempt from any and all taxes authorized by
law to be levied or collected, whether sales, income, ad valorem, premium
or by whatever name described.
History: L. 1973, ch. 360, § 3; L. 1975, ch. 404, § 2;
L. 1987, ch. 295, § 2; L. 1989, ch. 48, § 69;
L. 1996, ch. 254, § 6; May 23.
Article 37.--SEWAGE DISPOSAL FACILITIES AND IMPROVEMENTS
12-3724.Self-insurance reserve fund; investment by
director of investments; acceptance of moneys from other entities; tax
exemption.
(a) The director of investments may
invest and
reinvest moneys in
the self-insurance reserve fund in accordance with investment policies
established by the pooled money investment board under K.S.A. 75-4232, and
amendments thereto, in obligations of the United States of
America or obligations the principal and interest of which are guaranteed
by the United States of America or in interest-bearing time deposits in any
commercial bank located in Kansas, or, if the director of
investments
determines that it is impossible to deposit such moneys in such time
deposits, in repurchase agreements of less than 30 days' duration
with a Kansas bank
or with a primary government securities dealer which reports to the
market reports division of the federal reserve bank of New York
for direct obligations of, or obligations that are
insured as to principal and interest by, the United States government or
any agency thereof.
(b) For the purposes of this act the director of investments
may
accept funds, public or
private, from any person, firm, corporation or from any state agency or
other public instrumentality, or from the federal government or any
department or agency thereof.
(c) All moneys in the self-insurance reserve fund, or payable to such
fund, are hereby specifically exempt from any and all taxes authorized by
law to be levied or collected, whether sales, income, ad valorem, premium
or by whatever name described.
History: L. 1973, ch. 360, § 3; L. 1975, ch. 404, § 2;
L. 1987, ch. 295, § 2; L. 1989, ch. 48, § 69;
L. 1996, ch. 254, § 6; May 23.
Article 37.--SEWAGE DISPOSAL FACILITIES AND IMPROVEMENTS
12-3724.Self-insurance reserve fund; investment by
director of investments; acceptance of moneys from other entities; tax
exemption.
(a) The director of investments may
invest and
reinvest moneys in
the self-insurance reserve fund in accordance with investment policies
established by the pooled money investment board under K.S.A. 75-4232, and
amendments thereto, in obligations of the United States of
America or obligations the principal and interest of which are guaranteed
by the United States of America or in interest-bearing time deposits in any
commercial bank located in Kansas, or, if the director of
investments
determines that it is impossible to deposit such moneys in such time
deposits, in repurchase agreements of less than 30 days' duration
with a Kansas bank
or with a primary government securities dealer which reports to the
market reports division of the federal reserve bank of New York
for direct obligations of, or obligations that are
insured as to principal and interest by, the United States government or
any agency thereof.
(b) For the purposes of this act the director of investments
may
accept funds, public or
private, from any person, firm, corporation or from any state agency or
other public instrumentality, or from the federal government or any
department or agency thereof.
(c) All moneys in the self-insurance reserve fund, or payable to such
fund, are hereby specifically exempt from any and all taxes authorized by
law to be levied or collected, whether sales, income, ad valorem, premium
or by whatever name described.
History: L. 1973, ch. 360, § 3; L. 1975, ch. 404, § 2;
L. 1987, ch. 295, § 2; L. 1989, ch. 48, § 69;
L. 1996, ch. 254, § 6; May 23.