Section 74-2912 - Same; expenditures, maintenance and operations of board and hall of fame; deposit of moneys in local bank account; procedures, records and reports(a) The board of trustees may make expenditures for contracts entered into with private entities, for the maintenance and operating expenditures of the state of Kansas sports hall of fame and the board of trustees, for the expenses of state of Kansas sports hall of fame induction ceremonies, including the actual and necessary expenses of speakers and persons being inducted into the state of Kansas sports hall of fame for their attendance at such induction ceremonies, for official hospitality, for capital improvement projects for remodeling of or for additions or repairs to the state of Kansas sports hall of fame and for such other purposes as may be authorized by law.(b) All expenditures by the board of trustees of the state of Kansas sports hall of fame shall be exempt from competitive bid procedures under K.S.A. 75-3739 and amendments thereto.(c) On July 1, 1997, the director of accounts and reports shall transfer all moneys in the state of Kansas sports hall of fame fund to the bank account established under this section in accordance with the procedures prescribed by this section therefor. On July 1, 1997, all liabilities of the state of Kansas sports hall of fame fund are hereby transferred to and imposed upon such bank account. On July 1, 1997, the state of Kansas sports hall of fame fund is hereby abolished.(d) The state of Kansas sports hall of fame board of trustees shall deposit all moneys of the state of Kansas sports hall of fame in a bank to the account of the state of Kansas sports hall of fame. Such bank account shall be awarded to a bank located in the county in which the state of Kansas sports hall of fame is located by the pooled money investment board under a written agreement in accordance with procedures for state bank accounts under K.S.A. 75-4217 and amendments thereto and shall be secured by pledge of securities in the manner prescribed for state bank accounts under K.S.A. 75-4218 and amendments thereto and in the amount prescribed for fee agency accounts under that statute. All moneys in such bank account shall be used by the board of trustees of the state of Kansas sports hall of fame in operating and conducting the activities of the state of Kansas sports hall of fame. The board of trustees of the state of Kansas sports hall of fame shall keep and maintain accounting records of receipts, expenditures and other disbursements in accordance with procedures and guidelines approved by the director of accounts and reports therefor. All receipts, accounts, expenditures and other disbursements from the moneys of the state of Kansas sports hall of fame shall be subject to audit in accordance with the legislative post audit act.L. 1979, ch. 242, § 5; L. 1989, ch. 229, § 3; L. 1991, ch. 235, § 7; L. 1996, ch. 253, § 22; L. 1997, ch. 103, § 2; July 1.