Relates to the delivery of the good faith deposit following award of the bonds to the successful bidder; provides that a municipality, school district or district corporation may require that such deposit be made as a condition precedent to the consideration of a bid for the bonds.
Summary
Bill S00900 amends the local finance law to allow municipalities, school districts, and district corporations to require a good faith deposit from the successful bidder as a condition for considering bids for bonds. The bill specifies that this deposit can be made in various forms, including a certified check, cash via wire transfer, an eligible surety bond, or an eligible letter of credit. This change aims to streamline the bidding process and provide greater flexibility in how bidders can secure their bids.
Impact
If enacted, this bill will modify existing procedures regarding the bidding process for municipal bonds, potentially making it easier for local governments to manage and secure bids. It allows for alternative forms of deposits, which may encourage more bidders to participate in the process by providing them with more options for compliance. This could lead to increased competition and potentially better financial terms for municipalities and school districts when issuing bonds.
Sentiment
The sentiment surrounding Bill S00900 appears to be positive, as indicated by the unanimous support in committee votes and the final passage in the Senate. The lack of dissent suggests that stakeholders view the amendments as beneficial for local governance and financial management.
Contention
There are no notable points of contention reported in the discussions or voting history regarding this bill. The unanimous support across multiple votes indicates a consensus among legislators on the proposed changes.
Same As
Relates to the delivery of the good faith deposit following award of the bonds to the successful bidder; provides that a municipality, school district or district corporation may require that such deposit be made as a condition precedent to the consideration of a bid for the bonds.
Same As
Relates to the delivery of the good faith deposit following award of the bonds to the successful bidder; provides that a municipality, school district or district corporation may require that such deposit be made as a condition precedent to the consideration of a bid for the bonds.
Relates to the delivery of the good faith deposit following award of the bonds to the successful bidder; provides that a municipality, school district or district corporation may require that such deposit be made as a condition precedent to the consideration of a bid for the bonds.
Relates to the delivery of the good faith deposit following award of the bonds to the successful bidder; provides that a municipality, school district or district corporation may require that such deposit be made as a condition precedent to the consideration of a bid for the bonds.
Relates to the delivery of the good faith deposit following award of the bonds to the successful bidder; provides that a municipality, school district or district corporation may require that such deposit be made as a condition precedent to the consideration of a bid for the bonds.
Enacting the Kansas bullion depository act to authorize the state treasurer to establish, administer or contract for the administration of bullion depositories and allowing for state moneys to be deposited in such bullion depositories and invested in specie legal tender.
Provides for multiple-person accounts; requires a signature card; provides that absent indication to the contrary, funds remaining in such an account upon the death of the depositor shall be deemed part of the depositor's estate.
Permits counting of mail-in ballots that are mailed, delivered, or deposited prior to death of voter; repeals laws requiring rejection of such ballots.
Increasing the minimum expenditure amount for school districts for contracted goods and services without requiring sealed bids and the minimum expenditure amount for goods and services that the district superintendent may acquire on behalf of the school district.