Terms Used In Kansas Statutes 72-53,120

  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.

Whenever an initial resolution has been adopted under Kan. Stat. Ann. § 72-53,113, and amendments thereto, and such resolution specified a lesser mill rate than the statutorily prescribed mill rate or a lesser number of years than five, the board of education of the school district may adopt a second resolution under the same procedure as is provided in Kan. Stat. Ann. § 72-53,113, and amendments thereto, for the initial resolution and subject to the same conditions and for the same purposes as provided in Kan. Stat. Ann. § 72-53,113, and amendments thereto, and shall be authorized to make such additional tax levy as is specified in such second resolution for the remainder of the five years succeeding the adoption of the initial resolution. Any such second resolution shall be limited in amount as specified in Kan. Stat. Ann. § 72-53,113, and amendments thereto, less such amount as has been authorized in the initial resolution, and not to exceed the statutorily prescribed mill rate in any one year. In the event that any such resolution is so adopted and the tax levy therein specified is approved under the conditions specified in Kan. Stat. Ann. § 72-53,113, and amendments thereto, the amount of bonds which may be issued under Kan. Stat. Ann. § 72-53,117, and amendments thereto, may be increased accordingly.