There is a lot of history and discussion about the Cash-Basis Law and the Budget Law in this opinion. The opinion begins:
When you do business with a city in Kansas, you must be cautious. It differs from doing business with an ordinary person or company. There are many complex laws and rules that govern a city’s actions that do not apply to others. A failure to understand this complexity can lead to losing what once was thought certain. This case is an example of that peril.
Farmers Bank & Trust thought it had a loan guaranty from the City of Junction City but later found it was unenforceable. Farmers also made tort claims against the City and some of its officers but disregarded a fundamental notice provision in the law. Farmers lost when the court granted summary judgment to the City and the individual officials. Because the laws and the cases that interpret them constrain what cities may do with tax expenditures and how they can be sued for redress, we hold the district court’s grant of summary judgment to the City and the other defendants was proper. We affirm.
Read the opinion of Farmers Bank & Trust v. Homestead Community Development, et al.

The interest rate table above illustrates recent changes in a sample of MBIS “investment grade” yields. Every issuer’s credit is different. For rates that may be applicable to your municipality, contact our Municipal Bond Advisors, Larry Kleeman and Beth Warren.