Kansas Statutes 12-1255. Same; investment of moneys in building fund
Terms Used In Kansas Statutes 12-1255
- 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
Such board of directors may invest any portion of the building fund which is not currently needed in investments authorized by Kan. Stat. Ann. § 12-1675, and amendments thereto, in the manner prescribed therein or in direct short-term obligations of the United States government, the principal and interest whereof is guaranteed by the government of the United States. All interest received thereon on any such investment, shall upon receipt thereof be credited to the building fund.