Approved Revenue Bonds for Pledging to Public Funds
Pursuant to K.S.A. 9-1402 deposits of public moneys of Kansas municipal and quasi-municipal corporations must be secured according to one of the statutorily prescribed methods. One prescribed method is the pledging of securities, security entitlements, financial assets, or securities accounts owned by the bank in which the deposits are made. Below is a list of statutorily approved securities for pledging to public funds.
In addition, the State Bank Commissioner for the State of Kansas has authority to approve for pledging, certain revenue bonds meeting particular criteria. Bonds approved by the Commissioner are maintained in the OSBC Online search engine. Please follow the instructions below to be able to search bonds submitted to and approved by the Commissioner.
Bonds Approved for Pledging Under Statutory Authority
The Office of the State Bank Commissioner (OSBC) is not responsible for approving revenue bonds issued pursuant to the following statutes. The OSBC is not authorized to engage in analysis on whether a particular bond meets the legal requirements for approval under the following statutes. For questions regarding whether a particular bond is approved pursuant to any of the following statutes, it is recommended that you contact the municipal or quasi-municipal corporation, bond counsel, underwriters, or your own private attorney. Please note the following statutes may not represent an all-inclusive list. Please share any information on additional statutory approved bonds.
|Board of County Hospital||K.S.A. 19-4623|
|Board of Regents||K.S.A. 76-6a23|
|City Hospital Revenue||K.S.A. 80-2532|
|Commercial Paper (see criteria in statute)||K.S.A. 1402(d)(13)|
|County Home||K.S.A. 19-2130|
|Highway Program||K.S.A. 9-1402(d)(12)
|Insured U.S.A. Obligations (see criteria in statute)||K.S.A. 1402(d)(1)|
|Kansas City & Cty. Revenue (Rtd. MIG-1, Aa, or AA)||K.S.A. 9-1402(d)(9)
|Kansas Developmental Finance Authority||K.S.A. 9-1402(d)(11)
|Kansas Municipal (general obligation)||K.S.A. 1402(d)(4)|
|Kansas Municipal (refunded in advance and fully secured)||K.S.A. 1402(d)(2)|
|Kansas Municipal (temporary notes of general obligations)||K.S.A. 1402(d)(6)|
|Kansas Municipal Warrants (see criteria in statute)||K.S.A. 1402(d)(7)|
|Kansas Not-for-Profit Corp. (Rtd. Aa or AA)||K.S.A. 1402(d)(8)|
|Kansas Not-for-Profit Corp. Mortgage Loan Insured by FHA||K.S.A. 1402(d)(10)|
|Local Option Sales Tax Revenue||K.S.A. 12-195|
|Local Residential Housing||K.S.A. 12-5232|
|Municipal Energy Agency||K.S.A. 12-8,100|
|Negotiable Promissory Notes (see criteria in statute)||K.S.A. 1402(d)(14)|
|Public Housing Authority||K.S.A. 17-2336|
|State Highway||K.S.A. 68-2310|
|State of Kansas Bonds||K.S.A. 1402(d)(3)|
|Turnpike Authority||K.S.A. 68-2014|
|Urban Renewal||K.S.A. 17-4752|
|Water Storage||K.S.A. 82a-1366|
|Wildlife & Parks||K.S.A. 32-883|
Securities approved under the above statutes are not records maintained by the OSBC and thus are not searchable in OSBC Online.
Bonds Approved by the Commissioner
For bonds approved by the Commissioner pursuant to K.S.A. 9-1402(d)(5) and K.S.A. 75-4201(k)(4) please follow these instructions:
Step 1: Access OSBC Online
Click the following link to visit OSBC Online: http://www.osbckansas.org/lookup.html or click OSBC Online at the top of the page. You will need to agree to the Kansas Open Records Act disclaimer before proceeding to the OSBC Online search engine.
Step 2: Accessing the Search Engine
Click on the Online Services link, then the Lookup a License/Charter link to access the search criteria fields.
Step 3: Searching for a Bond
Enter the fields that are known to begin a search for a particular bond.
If you only know the municipal or quasi-municipal corporation, please input that information in the "Business Name/DBA" field and select "Revenue Bond" from the "License/Charter Type" field. Then click "Search".
Example Search: "City of Garnett Utility Refunding and Improvement Revenue Bonds".
Hint: You only need to enter an informal municipality name to retrieve bonds for that entity, i.e. "Garnett."
Your results will populate. CUSIP numbers appear in the "License" category.
If you know the CUSIP number for a particular bond, enter that information in the second box under the "License/Cert Number" fields. You may leave the other fields blank.
Step 4: Interpreting the Results
After retrieving the search results, you will be able to tell the status of the particular bond. For more detail on a particular issue, click the Detail link.
Information on each issue should be viewable in the "Credential Detail" pane. Bond status of "ACTIVE" means the bond has been approved by the Commissioner for pledging to the security of public funds. A bond status of "INACTIVE" means the bond is not approved or the bond has matured. If the bond has matured that information should be displayed in the "Status Reason" category.
If your search does not return any results, the particular bond has not been submitted to the Commissioner for approval and thus would not be acceptable for pledging to public funds.