Article 10. Equipment Reserve Fund
1-1001 Equipment reserve fund established.
In accordance with the provisions of K.S.A. 12-1,117, an equipment reserve fund is hereby established which shall be used by the city to finance the acquisition or replacement of equipment.
(Ord. 1233)
1-1002 General property tax.
Any general property tax specifically levied for the use of the equipment reserve fund shall be authorized by ordinance adopted under the provisions of section 5 of article 12 of the Kansas constitution.
(Ord. 1233)
1-1003 Use of funds.
Moneys in the equipment reserve fund may be used to finance, in whole or in part, including machinery, vehicles and any other equipment or personal property including, but not limited to, computer hardware and software, which the city is authorized to purchase for municipal purposes.
(Ord. 1233)
1-1004 Budgeting of funds.
Moneys credited to such fund from annually budgeted transfers shall not thereafter be subject to the provisions of K.S.A. 79-2925 to 79-2937, inclusive, and amendments thereto. In making the budget of the city, the amounts credited to, and the amount on hand in, the equipment reserve 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. 1233)
1-1005 Return of funds.
If the governing body of any city determines that money which has been credited to such fund or any part thereof is not needed for the purposes for which so budgeted or transferred, the governing body may transfer, by adoption of a resolution, such amount not needed to the fund from which it came and such retransfer and expenditure thereof shall be subject to the budget requirement provisions of K.S.A. 79-2925 to 79-2937, inclusive, and amendments thereto.
(Ord. 1233)