12-825d.Waterworks, fuel, power and lighting plants; use, disposition
and investment of revenues.
Except as otherwise hereinafter provided, in any city of the first, second
or third class owning a waterworks,
fuel, power or lighting plant, the revenue derived from the sale and
consumption of water, fuel, power or light shall not be paid out or
disbursed except for the purpose of operating, renewing or extending the
plant or distribution system from which such revenue was derived, the
payment of interest on outstanding bonds issued for the construction,
extension or purchase thereof, and the payment of the salaries of the
employees. At any time that there may be a surplus of such fund, it
shall, if needed to redeem bonds, be quarterly placed in a sinking fund,
which shall only be used for the purpose of redeeming bonds that may have
been issued for acquiring, renewing or extending said plant or distribution
system, or making renewals or extensions thereto. When
any surplus of either the operating fund or sinking fund is not needed for
any of the above stated purposes, said surpluses:
(a) May be transferred and merged into the city general revenue fund or
any other fund or funds of such city; or
(b) upon approval of the voters as authorized by K.S.A. 12-825g, and amendments
thereto, in
cities of the second class having a population of not less than six
thousand (6,000) and not more than twelve thousand (12,000) and which are
located in a county having a total assessed taxable tangible valuation of
not less than thirty-two million dollars ($32,000,000) and not more than
forty-five million dollars ($45,000,000), a part of such surpluses may be
annually transferred, for a period not exceeding five years, to a special
fund, which shall be known as "the community and utility promotion fund,"
but the total amount transferred to such fund in any one calendar year
shall not exceed (1) one percent (1%) of the gross income derived from the
sale of water, fuel, power and light during the preceding calendar year by
such city, or (2) ten thousand dollars ($10,000), whichever amount is the
lesser, and at no time shall there be more than fifty thousand dollars
($50,000) in said fund, and the moneys in said fund may be expended for the
purposes authorized by K.S.A. 12-825g, and amendments thereto; or
(c) such surpluses, in whole or in part, may be set aside in a
depreciation reserve fund of the utility which may be used as hereinabove
provided, and which may be invested in investments authorized by K.S.A.
12-1675, and amendments thereto, in the manner prescribed therein or in
United States government bonds or
in municipal bonds of any county, township, city or school district in
the state of Kansas where the bonded
indebtedness thereof does not exceed fifteen percent (15%) of its total
assessed valuation as shown by the last assessment preceding such
investment.
History: L. 1945, ch. 97, § 1; L. 1959, ch. 73, § 1; L. 1977,
ch. 54, § 5; July 1.
12-825d.Waterworks, fuel, power and lighting plants; use, disposition
and investment of revenues.
Except as otherwise hereinafter provided, in any city of the first, second
or third class owning a waterworks,
fuel, power or lighting plant, the revenue derived from the sale and
consumption of water, fuel, power or light shall not be paid out or
disbursed except for the purpose of operating, renewing or extending the
plant or distribution system from which such revenue was derived, the
payment of interest on outstanding bonds issued for the construction,
extension or purchase thereof, and the payment of the salaries of the
employees. At any time that there may be a surplus of such fund, it
shall, if needed to redeem bonds, be quarterly placed in a sinking fund,
which shall only be used for the purpose of redeeming bonds that may have
been issued for acquiring, renewing or extending said plant or distribution
system, or making renewals or extensions thereto. When
any surplus of either the operating fund or sinking fund is not needed for
any of the above stated purposes, said surpluses:
(a) May be transferred and merged into the city general revenue fund or
any other fund or funds of such city; or
(b) upon approval of the voters as authorized by K.S.A. 12-825g, and amendments
thereto, in
cities of the second class having a population of not less than six
thousand (6,000) and not more than twelve thousand (12,000) and which are
located in a county having a total assessed taxable tangible valuation of
not less than thirty-two million dollars ($32,000,000) and not more than
forty-five million dollars ($45,000,000), a part of such surpluses may be
annually transferred, for a period not exceeding five years, to a special
fund, which shall be known as "the community and utility promotion fund,"
but the total amount transferred to such fund in any one calendar year
shall not exceed (1) one percent (1%) of the gross income derived from the
sale of water, fuel, power and light during the preceding calendar year by
such city, or (2) ten thousand dollars ($10,000), whichever amount is the
lesser, and at no time shall there be more than fifty thousand dollars
($50,000) in said fund, and the moneys in said fund may be expended for the
purposes authorized by K.S.A. 12-825g, and amendments thereto; or
(c) such surpluses, in whole or in part, may be set aside in a
depreciation reserve fund of the utility which may be used as hereinabove
provided, and which may be invested in investments authorized by K.S.A.
12-1675, and amendments thereto, in the manner prescribed therein or in
United States government bonds or
in municipal bonds of any county, township, city or school district in
the state of Kansas where the bonded
indebtedness thereof does not exceed fifteen percent (15%) of its total
assessed valuation as shown by the last assessment preceding such
investment.
History: L. 1945, ch. 97, § 1; L. 1959, ch. 73, § 1; L. 1977,
ch. 54, § 5; July 1.
12-825d.Waterworks, fuel, power and lighting plants; use, disposition
and investment of revenues.
Except as otherwise hereinafter provided, in any city of the first, second
or third class owning a waterworks,
fuel, power or lighting plant, the revenue derived from the sale and
consumption of water, fuel, power or light shall not be paid out or
disbursed except for the purpose of operating, renewing or extending the
plant or distribution system from which such revenue was derived, the
payment of interest on outstanding bonds issued for the construction,
extension or purchase thereof, and the payment of the salaries of the
employees. At any time that there may be a surplus of such fund, it
shall, if needed to redeem bonds, be quarterly placed in a sinking fund,
which shall only be used for the purpose of redeeming bonds that may have
been issued for acquiring, renewing or extending said plant or distribution
system, or making renewals or extensions thereto. When
any surplus of either the operating fund or sinking fund is not needed for
any of the above stated purposes, said surpluses:
(a) May be transferred and merged into the city general revenue fund or
any other fund or funds of such city; or
(b) upon approval of the voters as authorized by K.S.A. 12-825g, and amendments
thereto, in
cities of the second class having a population of not less than six
thousand (6,000) and not more than twelve thousand (12,000) and which are
located in a county having a total assessed taxable tangible valuation of
not less than thirty-two million dollars ($32,000,000) and not more than
forty-five million dollars ($45,000,000), a part of such surpluses may be
annually transferred, for a period not exceeding five years, to a special
fund, which shall be known as "the community and utility promotion fund,"
but the total amount transferred to such fund in any one calendar year
shall not exceed (1) one percent (1%) of the gross income derived from the
sale of water, fuel, power and light during the preceding calendar year by
such city, or (2) ten thousand dollars ($10,000), whichever amount is the
lesser, and at no time shall there be more than fifty thousand dollars
($50,000) in said fund, and the moneys in said fund may be expended for the
purposes authorized by K.S.A. 12-825g, and amendments thereto; or
(c) such surpluses, in whole or in part, may be set aside in a
depreciation reserve fund of the utility which may be used as hereinabove
provided, and which may be invested in investments authorized by K.S.A.
12-1675, and amendments thereto, in the manner prescribed therein or in
United States government bonds or
in municipal bonds of any county, township, city or school district in
the state of Kansas where the bonded
indebtedness thereof does not exceed fifteen percent (15%) of its total
assessed valuation as shown by the last assessment preceding such
investment.
History: L. 1945, ch. 97, § 1; L. 1959, ch. 73, § 1; L. 1977,
ch. 54, § 5; July 1.