Attorney General Opinion No. 1981-023

Download or read book Attorney General Opinion No. 1981-023 written by Robert T. Stephan and published by . This book was released on 1981 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: A municipality may not invest idle funds in its own no-fund warants. Entitlement (federal revenue sharing) funds appropriated or budgeted by units of local government on or after January 1, 1977, may be used to pay principal and interest on no-fund warrants issued by a municipality. Where a municipality does not intend to issue bonds to finance, an improvement, temporary notes may not be issued, and a municipality may not exercise its home rule powers to deviate from the provisions of K.S.A. 1980 Supp. 10-123. Cited herein: K.S.A. 1980 Supp. 10-123, 12-1675; 31 C.F.R. section 51.41.