10-118a. Diversion of interest and sinking funds for refunding bonds; penalties. Whenever any municipality, as defined in K.S.A. 10-101, shall have refunded any of its outstanding bonded indebtedness, all funds on hand to the credit of the bonds so refunded shall be transferred to the credit of the interest and sinking fund for the refunding bonds so issued; and any and all taxes originally levied for the payment of said outstanding bonds so refunded, when collected, shall be paid into the interest and sinking fund created for the payment of said refunding bonds and interest.
Any diversion of such funds to other purposes shall constitute a misappropriation thereof; and any person who shall divert or aid or abet in the diversion of any of such funds for any other purpose shall be deemed guilty of a misdemeanor, and upon conviction thereof, shall be fined in the sum of not less than one hundred dollars ($100) or more than one thousand dollars ($1,000); and in addition thereto, may be imprisoned in the county jail for not less than three (3) months or more than twelve (12) months; and shall also be liable in a civil action to the municipality for the amount so diverted. Any official of any municipality who shall be convicted in a court of competent jurisdiction of a misdemeanor as herein set out, shall in addition to the penalty or penalties herein described, forfeit his or her office.
History: L. 1933, ch. 31, ยง 1 (Special Session); December 30.
Structure Kansas Statutes
Chapter 10 - Bonds And Warrants
10-101 "Municipality" defined.
10-102 "Municipal bonds" defined.
10-103 Terms and denominations of municipal bonds.
10-104 Limitations on improvement bonds; partial issuance, when.
10-106 Sale of bonds; public sale, requirements; when; notice; bids.
10-108a Nonlitigation certificate; incorporation in transcript; form.
10-108b Same; notice of pending or threatened lawsuit, effect.
10-108c Same; municipality prevailing in lawsuit authorized to issue bonds unless stay granted.
10-108d Nonlitigation certificate, exception; payment of bonds if city not legally organized.
10-109 Filing statement of issuance with state treasurer.
10-112 Bonds required to be printed; recitals.
10-113 Levies for sinking fund; penalty for failure to make.
10-114 Special assessments for city improvements; apportionment; ordinance.
10-115 Payment of special assessments.
10-117 Unlawful issue, diversion or misuse of bond proceeds or tax funds; penalties.
10-117a Transfer of unexpended balance in bond and interest fund.
10-118 Sinking fund levy to pay bonds maturing at same time.
10-118a Diversion of interest and sinking funds for refunding bonds; penalties.
10-118b Diversion not basis of tax protest.
10-119 Changing territory or disorganization of municipality; liability; tax levies.
10-120 Bond election; publication of notice.
10-120a Bond election; notice requirements.
10-121 Elections for acquisition of land.
10-122 Investment of sinking fund.
10-123 Temporary notes for improvements; issuance; renewal, when.
10-124 Interest coupons receivable for taxes.
10-125 Bonds covered by 10-101 to 10-125.
10-126 Printing of coupons; size and form.
10-127 Same; refusal by state treasurer to register.
10-128 "Municipality" defined.
10-130a Failure of state treasurer to pay certain funds or moneys as provided by law; penalty.
10-132 Used surplus proceeds of certain bond issues to purchase bonds.