Author: Robert T. StephanPublisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
Under the provisions of K.S.A. 10-1116b, a municipality may enter into an installment-purchase agreement which provides for payments extending beyond its current budget year, provided that the agreement specifically states that the municipality is obligated only to pay periodic payments or monthly installments as have been provided for in the budget of the municipality for the current budget year, or which can be paid from funds derived from a lawfully operated revenue producing source. Since the obligation of the municipality under such an agreement is limited by the specific statement required by K.S.A. 10-1116b, the agreement does not violate either the budget law or the cash-basis law. Cited herein: K.S.A. 10-1116b, 79-2935.
