2006 Kansas Code - 58-3602

      58-3602.   Appropriation of appreciation. The governing board may appropriate for expenditure for the uses and purposes for which an endowment fund is established so much of the net appreciation realized or unrealized in the fair value of the assets of an endowment fund over the historic dollar value of the fund as is prudent under the standard established by K.S.A. 58-3606 and amendments thereto. This section does not limit the authority of the governing board to expend funds as permitted under other law, the terms of the applicable gift instrument, or the character of an institution.

      History:   L. 1973, ch. 226, § 2; L. 1997, ch. 85, § 1; July 1.