65-163e. Same; public water supply loan fund established; sources of revenue; purposes for disbursements therefrom.
65-163e
65-163e. Same; public water supply loan fundestablished; sources ofrevenue; purposes for disbursements therefrom.(a) There is hereby established in the state treasury thepublic water supply loan fund.
(b) Moneys from the following sources shall be credited to the fund:
(1) Amounts received by the state from the federalgovernment for the purposes of the fund;
(2) amounts appropriated or otherwise made available by the legislaturefor the purposes of the fund;
(3) proceeds derived from the sale of bonds issued under K.S.A. 65-163lthrough 65-163t, and amendments thereto;
(4) amounts of repayments of loans made under this act, together withpaymentsof interest thereon, in accordance with agreements entered intoby the borrower and the secretary;
(5) interest attributable to investment of moneys in the fund; and
(6) amounts received from any public orprivate entity for the purposes of the fund.
(c) Subject to the conditions and in accordance with requirements ofthis act, moneys credited to the fund shall be usedonly:
(1) To make loans to municipalities for payment of all orpart of project costs;
(2) as a source of revenue or security for the payment of principal andinterest on bonds issued under K.S.A. 65-163l through 65-163t, andamendments thereto, if,and tothe extent that, the proceeds of the sale of such bonds are deposited in thefund;
(3) as a source of revenue or security for the payment of principal andinterest on bonds issued by the Kansas development finance authority pursuantto the provisions of K.S.A. 65-3321 through 65-3329, and amendmentsthereto;
(4) to earn interest on moneys in the fund; and
(5) for the reasonable costs,asdetermined by the secretary, of administering the fund and conductingactivities under this act. Suchcosts shall be identified annually in development of the intended use plan asdescribed in K.S.A. 65-163h, and amendments thereto.
(d) On or before the 10th of each month, the director ofaccountsand reportsshalltransfer from the state general fund to the public water supply loan fundinterest earnings based on:
(1) The average daily balance of moneys in the public water supply loanfundfor the preceding month;and
(2) the netearnings rate of the pooled money investment portfolio for the precedingmonth.
(e) All payments and disbursements from the fund shall be made in accordancewith appropriation acts uponwarrants of the director of accounts and reports issued pursuant tovouchers approved by the secretary or by a person or persons designated bythe secretary. All payments and disbursements from the fund, and beginningand ending balances thereof, shall be subject each year to post audit inaccordance with article 11 of chapter 46 of the Kansas Statutes Annotated.
History: L. 1994, ch. 349, § 2;L. 1996, ch. 253, § 12;L. 2006, ch. 100, § 1; July 1.