HB 2577--
Session of 1997
By Committee on Appropriations

9 AN ACT concerning U.S.D. No. 501, Shawnee county; authorizing the 10 board of education to levy a tax for acquisition of Capital City High 11 School and related purposes. 12 13 Be it enacted by the Legislature of the State of Kansas: 14 Section 1. (a) The board of education of U.S.D. No. 501, Shawnee 15 county, may make an annual tax levy for a period of not to exceed 10 16 years, commencing with the 1997-98 school year, at a rate of not to exceed 17 one mill upon the taxable tangible property in the school district for the 18 purpose of acquiring from the state of Kansas the Capital City High 19 School buildings and facilities, including the equipment thereof, the land 20 upon which such buildings and facilities are located, and certain land 21 adjacent thereto, and for the purpose of payment of the expenses of any 22 special assessments and any expenses necessary for reconstruction, repair, 23 remodeling, additions to, furnishing and further equipping such buildings 24 and facilities. 25 (b) There is hereby established in U.S.D. No. 501, Shawnee county, 26 a fund which shall be called the Capital City High School capital outlay 27 fund. The fund shall consist of the proceeds of any tax levied under au- 28 thority of subsection (a) and any moneys deposited to the credit of the 29 fund in accordance with law. Moneys in the fund shall be used for the 30 purposes specified in subsection (a) and for no other purpose. The board 31 of education of the school district is authorized to invest any portion of 32 the fund that is not currently needed as provided in K.S.A. 12-1675, and 33 amendments thereto. All interest received on any such investment shall 34 be credited to the fund. If at any time all obligations of the fund have 35 been fully satisfied, any unexpended and unencumbered cash balance 36 remaining shall be disposed of as provided in subsection (a) of K.S.A. 72- 37 6427, and amendments thereto. 38 Sec. 2. This act shall take effect and be in force from and after its 39 publication in the statute book.