Kansas Statutes 10-1102. Citation of act; cash basis for municipalities
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Terms Used In Kansas Statutes 10-1102
- Contract: A legal written agreement that becomes binding when signed.
- Municipality: means any county, township, city, municipal university, school district, community college, drainage district and any other taxing district or political subdivision of the state which is supported with tax funds. See Kansas Statutes 10-1101
(a) Kan. Stat. Ann. §§ 10-1101 through 10-1122, and amendments thereto, shall be known and may be cited as the cash-basis law.
(b) All municipalities are required to pay or refinance their valid indebtedness as provided in the cash-basis law, in the manner and at the times herein set forth, and to contract no indebtedness after May 1, 1933, except as provided by the cash-basis law. It is hereby declared that the purpose of this act is to provide for the funding and payment of all legal debts and obligations except present bonded indebtedness of all municipalities and for the future conduct of the financial affairs of such municipality upon a cash basis.