12-2812. Investment of authority reserve or sinking funds. The authority shall have power to invest and reinvest any funds held in reserve or sinking funds not required for immediate disbursement, in investments authorized by K.S.A. 12-1675, and amendments thereto, in the manner prescribed therein or in bonds or notes of the United States, bonds of the state of Kansas or bonds of any county, unified school district or city of the first class in which said authority is operating a transportation system or in bonds or certificates of the authority at not to exceed their par value or their call price and to sell these securities whenever the funds are needed for disbursement. Such investment or reinvestment of any funds shall not be in conflict with any provisions of any trust agreement securing the payment of bonds or certificates of the authority.
History: L. 1955, ch. 118, § 12; L. 1977, ch. 54, § 11; July 1.
Structure Kansas Statutes
Chapter 12 - Cities And Municipalities
Article 28 - Public Transportation
12-2801 Name and citation of act.
12-2803 Actions by or against; seal.
12-2805 Acquisition of properties and rights.
12-2806 Same; sale, lease or exchange.
12-2807 Use of street or public way; ordinance.
12-2809 Purchase of equipment; trust certificates; payment; leases.
12-2810 Investment in bonds or certificates by certain public and private bodies.
12-2811 Federal grants and loans.
12-2812 Investment of authority reserve or sinking funds.
12-2813 Insurance or indemnity contracts.
12-2815 Transit board; qualifications of members; salary; expenses.
12-2816 Transit board; appointment of board; terms.
12-2817 Same; resignations; removals; vacancies.
12-2818 Same; chairman and temporary secretary; qualification and salary of chairman.
12-2819 Same; meetings; action by resolution; public records.
12-2820 Same; secretary; treasurer; compensation; oaths; bond of treasurer.
12-2821 Funds of authority; deposits and expenditures.
12-2822 Signatures of officers valid.
12-2823 Appointment of manager, attorney, engineer and other officers; duties; bonds; compensation.
12-2824 Employment classification and regulation.
12-2825 Contracts with labor organizations.
12-2826 Rules and regulations; rates, fares and charges; free transportation, certain.
12-2827 Property and facilities, regulations.
12-2828 Letting of certain contracts; bids; exceptions.
12-2829 Advertisements for bids; awarding of contracts.
12-2831 Same; financial statements.
12-2832 Modernization of system; fund; loans.
12-2833 Same; depreciation policy.
12-2834 Operating expenses; damage reserve fund; liability insurance.
12-2835 Special funds; creation; use.
12-2836 Limitation of actions for injuries; time for filing notice.
12-2837 Investigations by transit board; testimony.