LIBRARY BOARDS INVEST FUNDS. Letter, November 6, 1973, to Claire Vincent, Kansas State Library.
As you point out, K.S.A. 1972 Supp. 12-1675, as mended by ch. 66, L. 1973, authorizes the governing body of any county, city, school district or quasi-municipal corporation to invest moneys not immediately required for the purposes for which the money were collected or received in certain investments.
You question whether public library boards, whether they are city, county, township, district or regional, may invest any of the tax funds they receive for the maintenance of the library in the investments specified in section 6 or ch. 66.
The second paragraph of that section states thus:
"As used in this act, the term 'quasi-municipal corporation' shall mean a drainage district, cemetery district, hospital district, or other governmental subdivision having authority to levy taxes. . . ."K.S.A. 12-1223 provides that the library board of a library established under the governed by K.S.A. 12-1218 et seq., shall "constitute a body corporate and politic possessing the usual powers of a corporation for public purposes. . . ." However, under K.S.A. 12-1220, it is not the board, but the "governing body" of the "municipality," as defined in K.S.A. 12-1218, which is empowered to levy taxes for library purposes. Accordingly, we must conclude that a library board of a library established under the governed by K.S.A. 12-1218 et seq. , does not constitute a quasi-municipality empowered to invest funds under ch 61, § 6, L. 1973.
A library board established under K.S.A. 1972 Supp. 12-1236 likewise constitutes "a body corporate and politic, possessing the usual powers of a corporation for public purposes. . . ." It is, however, empowered to levy taxes under K.S.A. 1972 Supp. 12-1247. We cannot but conclude that such a board does enjoy the investment authority about which you inquire.
A regional library board constituted pursuant to K.S.A. 12-1231 has no power to levy taxes, and accordingly, does not have that authority.