Article 9. Capital Improvement Fund
1-901 Capital improvement fund established.
In accordance with the provisions of K.S.A. 12-1,118, a capital improvement fund is hereby established which shall be used by the city to finance, in whole or in part, any public improvements and infrastructure, as may be needed by the city on the city’s capital improvement plan.
(Ord. 1232)
1-902 General property tax.
Any general property tax specifically levied for the use of the capital improvement fund shall be authorized by ordinance adopted under the provisions of section 5 of article 12 of the Kansas constitution.
(Ord. 1232)
1-903 Use of funds.
Moneys in the capital improvement fund may be used to finance, in whole or in part, any public improvement need set forth in the adopted capital improvement plan, including the repair, restoration and rehabilitation of existing public utilities. Disbursements from the capital improvements fund may be made for engineering and other advance public improvement plans and studies. Reimbursements may be made to the capital improvements fund from bond proceeds, special assessments or state and federal aid available for the completed projects. Except for reimbursed expenses of the kind described in this section, no moneys shall be credited to the capital improvement fund except as may be budgeted annually or transferred by the annual budget from other funds. The capital improvements fund shall not thereafter be subject to the provisions of K.S.A. 79-2925 to 79-2937.
(Ord. 1232)
1-904 Budgeting of funds.
In making the budget of the city, the amounts credited to, and the amount on hand in the capital improvements fund and the amount expended therefrom shall be shown thereon for the information of the taxpayers of the city. Moneys in such fund may be invested in accordance with the provisions of K.S.A. 10-131, and amendments thereto, with interest thereon credited to such fund.
(Ord. 1232)
1-905 Return of funds.
If the governing body determines that money which has been transferred to the capital improvements fund or any part thereof is not needed for the purposes for which so transferred, the governing body, by adoption of a resolution, may transfer the amount not needed to the general or other fund from which it was derived and the transferred funds and expenditure thereof shall be subject to the budget requirement provisions of K.S.A. 79-2925 to 79-2937, and amendments thereto.
(Ord. 1232)