12-3413. Same; budget; rents and charges; surplus of funds, use. (a) The board of directors of a port authority created in accordance with K.S.A. 12-3402, and amendments thereto, shall annually prepare a budget for the port authority.
(b) Rents, charges and administrative fees received by the port authority shall be used for the general expenses of the port authority and to pay interest, amortization, taxes and retirement charges on money borrowed and reserves therefor. If there remains, at the end of any calendar year, any surplus of such funds after providing for the above uses and reserves therefor, the board of directors may pay such surplus into the general funds of the political subdivisions creating and comprising the port authority in proportion to their taxable tangible property valuation as adjusted by the assessment ratio of the state.
History: L. 1969, ch. 89, § 13; L. 1981, ch. 76, § 10; L. 1987, ch. 75, § 9; July 1.
Structure Kansas Statutes
Chapter 12 - Cities And Municipalities
12-3401 Port authorities; definitions.
12-3404 Same; employees; advisory board; professional help.
12-3405 Same; area of jurisdiction.
12-3409 Same; validity of modification, amendment or extension of plan.
12-3411 Same; inapplicability to other laws.
12-3413 Same; budget; rents and charges; surplus of funds, use.
12-3414 Same; treasurer's bond; deposits and disbursements of funds.
12-3416 Port authorities; conditions of bonds; negotiability.
12-3417 Same; bonds; installment payment of bonds; conversion provisions.
12-3420 Same; issuance of bonds and refunding bonds; approval required.
12-3422 Same; pledges of revenues and income; powers of board of directors.
12-3423 Same; agreement with federal government.
12-3424 Same; segregation and use of proceeds; contracts for buildings and facilities.
12-3425 Same; approval of bonds by attorney general; effect.
12-3426 Same; investments in bonds of authority authorized.
12-3428 Same; sale of bonds; conditions.
12-3429 Same; emergencies; contracts.
12-3430 Same; oath and bond of trustees.
12-3431 Same; meetings open to public; records.