32-858.Same; disposition of proceeds.(a) All moneys derived from the sale of bonds as provided inK.S.A. 32-857 through 32-864, and amendments thereto, shallbe paid into the state treasury and the state treasurer shall credit thesame to a special account for the use of the department to pay the cost ofthe specific public improvement or project for which the bonds were issuedas shown by the bond indenture executed in connection with the issuanceof the bonds. If moneys derived from the sale of bondsexceed the amount necessary to complete the specific publicimprovement or project for which the bonds were issued,the secretary shallhave power by resolution to direct the state treasurer to transfer anysurplus from the special account to another account inthe department's fee funds for the purpose ofretiring the bonds. Upon making any such transfer the state treasurershall notify the director of accounts and reports and thesecretary thereof,who shall make the proper entries in the records of their respectiveoffices to show such transfer.
(b) On or before the 10th of each month, the director of accounts andreports shalltransfer from the state general fund to the special account established insubsection (a)interest earnings based on:
(1) The average daily balance of moneys in the special account establishedin subsection (a) for the preceding month;and
(2) thenet earnings rate of the pooled money investment portfolio for the precedingmonth.
(c) The director ofaccounts and reports, upon the presentation of properly itemized andexecuted vouchers, approved by thesecretary, is hereby authorized to draw warrants on the statetreasurer against the special account created under this section.
History: L. 1955, ch. 355, § 15; L. 1963, ch. 409, § 7; L. 1975,ch. 404, § 6;L. 1987, ch. 295, § 9;L. 1989, ch. 48, § 93; L. 1989, ch. 118, § 25; L. 1989, ch. 274, § 4;L. 1992, ch. 272, § 2;L. 1996, ch. 253, § 1; May 23.
32-858.Same; disposition of proceeds.(a) All moneys derived from the sale of bonds as provided inK.S.A. 32-857 through 32-864, and amendments thereto, shallbe paid into the state treasury and the state treasurer shall credit thesame to a special account for the use of the department to pay the cost ofthe specific public improvement or project for which the bonds were issuedas shown by the bond indenture executed in connection with the issuanceof the bonds. If moneys derived from the sale of bondsexceed the amount necessary to complete the specific publicimprovement or project for which the bonds were issued,the secretary shallhave power by resolution to direct the state treasurer to transfer anysurplus from the special account to another account inthe department's fee funds for the purpose ofretiring the bonds. Upon making any such transfer the state treasurershall notify the director of accounts and reports and thesecretary thereof,who shall make the proper entries in the records of their respectiveoffices to show such transfer.
(b) On or before the 10th of each month, the director of accounts andreports shalltransfer from the state general fund to the special account established insubsection (a)interest earnings based on:
(1) The average daily balance of moneys in the special account establishedin subsection (a) for the preceding month;and
(2) thenet earnings rate of the pooled money investment portfolio for the precedingmonth.
(c) The director ofaccounts and reports, upon the presentation of properly itemized andexecuted vouchers, approved by thesecretary, is hereby authorized to draw warrants on the statetreasurer against the special account created under this section.
History: L. 1955, ch. 355, § 15; L. 1963, ch. 409, § 7; L. 1975,ch. 404, § 6;L. 1987, ch. 295, § 9;L. 1989, ch. 48, § 93; L. 1989, ch. 118, § 25; L. 1989, ch. 274, § 4;L. 1992, ch. 272, § 2;L. 1996, ch. 253, § 1; May 23.
32-858.Same; disposition of proceeds.(a) All moneys derived from the sale of bonds as provided inK.S.A. 32-857 through 32-864, and amendments thereto, shallbe paid into the state treasury and the state treasurer shall credit thesame to a special account for the use of the department to pay the cost ofthe specific public improvement or project for which the bonds were issuedas shown by the bond indenture executed in connection with the issuanceof the bonds. If moneys derived from the sale of bondsexceed the amount necessary to complete the specific publicimprovement or project for which the bonds were issued,the secretary shallhave power by resolution to direct the state treasurer to transfer anysurplus from the special account to another account inthe department's fee funds for the purpose ofretiring the bonds. Upon making any such transfer the state treasurershall notify the director of accounts and reports and thesecretary thereof,who shall make the proper entries in the records of their respectiveoffices to show such transfer.
(b) On or before the 10th of each month, the director of accounts andreports shalltransfer from the state general fund to the special account established insubsection (a)interest earnings based on:
(1) The average daily balance of moneys in the special account establishedin subsection (a) for the preceding month;and
(2) thenet earnings rate of the pooled money investment portfolio for the precedingmonth.
(c) The director ofaccounts and reports, upon the presentation of properly itemized andexecuted vouchers, approved by thesecretary, is hereby authorized to draw warrants on the statetreasurer against the special account created under this section.
History: L. 1955, ch. 355, § 15; L. 1963, ch. 409, § 7; L. 1975,ch. 404, § 6;L. 1987, ch. 295, § 9;L. 1989, ch. 48, § 93; L. 1989, ch. 118, § 25; L. 1989, ch. 274, § 4;L. 1992, ch. 272, § 2;L. 1996, ch. 253, § 1; May 23.
