Session Law

Identifying Information:L. 2001 ch. 129
Other Identifying Information:2001 House Bill 2493*
Tax Type:Other
Brief Description:An Act concerning the state fair; relating to acquisition, construction, equipping, furnishing, renovation, reconstruction and repair of the Kansas state fairgrounds.
Keywords:


Body:

CHAPTER 129

HOUSE BILL No. 2493*


An Act concerning the state fair; relating to acquisition, construction, equipping, furnishing,

renovation, reconstruction and repair of the Kansas state fairgrounds.

Be it enacted by the Legislature of the State of Kansas:

Section 1. (a) The state fair board may make expenditures from

money available therefor for the acquisition, construction, equipping, fur-

nishing, renovation, reconstruction and repair of the Kansas state fair-

grounds. Capital improvement projects for the acquisition, construction,

equipping, furnishing, renovation, reconstruction and repair of the Kansas

state fairgrounds are hereby approved for the state fair board for the

purposes of subsection (b) of K.S.A. 74-8905, and amendments thereto

and the authorization of one or more series of revenue bonds by the

Kansas development finance authority in accordance with that statute.

Expenditures from bond proceeds authorized by this section for these

capital improvement projects shall not exceed an aggregate of

$29,000,000 plus all amounts required for costs of any bond issuance, cost

of interest on any bond issued or obtained for such capital improvement

project and any required reserves for payment of any principal and in-

terest on any bond.

(b) The state fair board shall pursue local, state and private funds to

offset expenditures from the state treasury for payment of principal and

interest on bonds issued to finance capital improvements for the Kansas

state fairgrounds. Subject to the provisions of appropriation acts, moneys

credited to the state economic development initiatives fund may be ex-

pended for payment of principal and interest on bonds issued to finance

such capital improvements. Prior to the issuance of any bonds authorized

pursuant to this section for any such capital improvement project, the

general manager of the Kansas state fair shall report to the state finance

council concerning such project and such issuance. The report shall spe-

cifically include information about the proposed utilization of bond pro-

ceeds for any capital improvement project and the availability and use of

other sources including local, state and private funds. No bonds shall be

issued under this section except upon approval by the state finance coun-

cil acting on this matter after a review by the joint committee on state

building construction. The approval of the issuance of bonds is hereby

characterized as a matter of legislative delegation and subject to the

guidelines prescribed in subsection (c) of K.S.A. 75-3711c, and amend-

ments thereto. Approval by the state finance council may be given when

the legislature is in session.

(c) There is hereby established the state fair debt service special rev-

enue fund in the state treasury. All moneys credited to this fund shall be

expended for the payment of principal and interest on bonds issued to

finance capital improvements for the Kansas state fairgrounds under this

section. All expenditures from the state fair debt service special revenue

fund shall be in accordance with the provisions of appropriation acts pur-

suant to vouchers approved by the general manager of the Kansas state

fair board or by the designee of the general manager.

(d) During the fiscal year ending June 30, 2003, after bonds are issued

by the Kansas development finance authority to finance capital improve-

ments for the Kansas state fairgrounds in accordance with this section,

the general manager of the Kansas fair board shall certify that fact to the

director of accounts and reports and, upon receipt of such certification,

or as soon thereafter as moneys are available therefor, the director of

accounts and reports shall transfer an amount or amounts from the state

economic development initiatives fund or other available funds of the

state, as specified by appropriation act, to the state fair debt service special

revenue fund.

Sec. 2. This act shall take effect and be in force from and after its

publication in the statute book.

Approved April 19, 2000.


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Date Composed: 09/25/2001 Date Modified: 09/25/2001