Kansas Statutes 12-1252. Acceptance of gifts for library purposes by cities and boards of education, or jointly; conditions
Terms Used In Kansas Statutes 12-1252
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- board: means the library board of trustees appointed pursuant to the provisions of this act;
(f) "library" means a library which serves the general public and is supported in whole or in part with tax money and shall be called the Independence area public library;
(g) "governing body" means the governing body of the city of Independence, Kansas or the board of county commissioners of Montgomery county, Kansas; and
(h) "maintenance and support" means the general and usual cost and expense of operating a library. See Kansas Statutes 12-1281
- Board of education: means the board of education of unified school district no. See Kansas Statutes 12-1281
- Contract: A legal written agreement that becomes binding when signed.
- Donor: The person who makes a gift.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Governing body: shall mean the governing body of a city, the board of county commissioners of a county, and the township trustee, clerk and treasurer acting as the township board of a township. See Kansas Statutes 12-1218
- Library: shall mean a library which serves the general public and is supported in whole or in part with tax money. See Kansas Statutes 12-1218
- Property: includes personal and real property. See Kansas Statutes 77-201
(a) The board of education of any school district, the governing body of any city, or both jointly are authorized to receive gifts. The gift may be conditioned so that the money will be used only for the purpose of construction and furnishing of a library.
(b) The board of education or the governing body of the city, or both, may by resolution contract and agree to pay the donor during the donor’s lifetime interest on the principal sum of the gift at the rate as the donor and the recipient agree upon. The interest agreed upon shall be paid by the school district or city, or both, in periodic semiannual payments in the same manner as interest on bonded indebtedness. The interest may be paid by the school district or city, or both, from bond funds, or from special capital outlay funds, or if there are insufficient amounts in such funds, then from the general operating fund of the school district, or city, or both. The board of education of any school district making an agreement and receiving any gift under this act may make an annual tax levy on the taxable tangible property in the school district in an amount necessary to meet the interest requirements agreed upon in the resolution accepting the gift. Any tax levied under authority of this act shall not be subject to any tax levy limitation, and expenditures for interest paid under authority hereof shall not be counted as operating expenses. The aggregate amount of the periodic payments, using a standard annuity table, shall not at the time of the gift be estimated to exceed the principal amount of the gift.
(c) The donor and the board of education or the governing body, or both, may agree upon additional conditions.