72-1168. School district funds; temporary cash deficits; limited authority for issuance of temporary notes and tax levies. Whenever the board of education of any school district shall make a finding that such school district has a temporary cash deficit in any school district fund, such school district may issue temporary notes of the school district for the purpose of borrowing money to meet such temporary cash deficit. The proceeds of any notes issued pursuant to this section shall be credited to the fund found to have such deficit. Such notes may be issued only with the approval of the state board of tax appeals. Temporary notes issued pursuant to this act shall mature, be retired and paid during the fiscal year during which they are issued. Such notes shall be retired from the proceeds of distributions to the fund in which the temporary cash deficit occurred. Such notes shall be in a form prescribed by the state board of education and may bear interest at a rate not to exceed 5% per annum. No such notes may be issued in an amount in excess of anticipated receipts during the fiscal year of the fund in which the temporary cash deficit occurred. If any such anticipated receipts are not received during the fiscal year in which such notes are issued, such notes shall be retired in the next succeeding fiscal year from the proceeds of later received distributions to such fund or shall be retired from a tax levy upon the taxable tangible property in the school district in an amount sufficient to retire such notes, which levy shall be made at the next tax levying period.
History: L. 1973, ch. 298, § 1; L. 2008, ch. 109, § 64; L. 2014, ch. 141, § 58; July 1.
Structure Kansas Statutes
Article 11 - School District Board Of Education Powers And Duties
72-1132 Name and style of unified districts.
72-1133 Boards of education; president and vice-president; election; terms of office; duties.
72-1135 Clerk; appointment and duties.
72-1136 Treasurer; appointment and duties; surety bond required.
72-1139 Same; state board definition.
72-1140 Expenses of board of education members.
72-1141 Judgments against school districts; tax levy, use of proceeds.
72-1142 Legal successor of rights and powers; bequests and donations.
72-1144 Acquisition of real property under eminent domain power; conditions; procedures.
72-1145 Dues payments to Kansas association of school boards authorized.
72-1146 Contracts; indemnification or hold harmless provisions, void.
72-1147 Contracts; governed by Kansas law.
72-1148 Contracts; mandatory provisions.
72-1154 Criteria for use; alternative project delivery.
72-1155 Procedures; construction management at-risk projects.
72-1156 Bid proposals, other; open for public inspection.
72-1157 Parking lots excluded.
72-1161 Fiscal year of school districts.
72-1162 Annual budget and tax levy; certification.
72-1164 Profile of school district; contents; notice of availability.
72-1165 School district internet-based data reporting system.
72-1166 Compilation and report of expenditures; verification by department.
72-1167 Kansas uniform financial accounting and reporting act.
72-1169 Payments required to be paid by districts; insufficient revenues.
72-1170 Transfer of funds when school district in more than one county.
72-1174 Moneys derived from gifts or donations; transfers to community foundations.
72-1178 School activity funds.
72-1179 Special liability expense fund; uses of money.
72-1180 Special reserve fund; uses of money.
72-1181 Publication of certain financial and accountability reports; requirements.