Brief (1)
HB 2661 allows cities to destroy bonds and coupons which have been cancelled and paid within six months of the maturity of the bond or coupon.
Background
The bill was supported by the City of Wichita and the League of Kansas Municipalities. Proponents said the current five-year requirement is costly and the bill would allow cities to cut storage costs and the need for storage space.
The bill has no fiscal impact on the state.
1. *Supplemental notes are prepared by the Legislative Research Department and do not express legislative intent. The supplemental note and fiscal note for this bill may be accessed on the Internet at http://www.ink.org/public/legislative/bill_search.html