----------------------------------------------------------------------------


 9  AN ACT concerning U.S.D. No. 501, Shawnee county; authorizing the
10    board of education to levy a tax for acquisition of Capital City High
11    School and related purposes.
12
13  Be it enacted by the Legislature of the State of Kansas:
14    Section 1.  (a) The board of education of U.S.D. No. 501, Shawnee
15  county, may make an annual tax levy for a period of not to exceed 10
16  years, commencing with the 1997-98 school year, at a rate of not to exceed
17  one mill upon the taxable tangible property in the school district for the
18  purpose of acquiring from the state of Kansas the Capital City High
19  School buildings and facilities, including the equipment thereof, the land
20  upon which such buildings and facilities are located, and certain land
21  adjacent thereto, and for the purpose of payment of the expenses of any
22  special assessments and any expenses necessary for reconstruction, repair,
23  remodeling, additions to, furnishing and further equipping such buildings
24  and facilities.
25    (b)  There is hereby established in U.S.D. No. 501, Shawnee county,
26  a fund which shall be called the Capital City High School capital outlay
27  fund. The fund shall consist of the proceeds of any tax levied under au-
28  thority of subsection (a) and any moneys deposited to the credit of the
29  fund in accordance with law. Moneys in the fund shall be used for the
30  purposes specified in subsection (a) and for no other purpose. The board
31  of education of the school district is authorized to invest any portion of
32  the fund that is not currently needed as provided in K.S.A. 12-1675, and
33  amendments thereto. All interest received on any such investment shall
34  be credited to the fund. If at any time all obligations of the fund have
35  been fully satisfied, any unexpended and unencumbered cash balance
36  remaining shall be disposed of as provided in subsection (a) of K.S.A. 72-
37  6427, and amendments thereto.
38    Sec. 2.  This act shall take effect and be in force from and after its
39  publication in the statute book.