A CHARTER ORDINANCE EXEMPTING THE CITY OF DOWNS, KANSAS, FROM THE PROVISIONS OF THE 1981 SUPPLEMENTS TO KANSAS STATUTES ANNOTATED 75-1120a, SO AS TO NOT REQUIRE SAID CITY TO UTILIZE ACCOUNTING PROCEDURES AND FISCAL PROCEDURES IN THE PREPARATION OF FINANCIAL STATEMENTS AND FINANCIAL REPORTS THAT CONFORM TO GENERALLY ACCEPTED ACCOUNTING PRINCIPALS AS PROMULGATED BY THE NATIONAL COMMITTEE ON GOVERNMENTAL ACCOUNTING AND THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS AND ADOPTED BY RULES AND REGULATIONS OF THE MUNICIPAL ACCOUNTING BOARD.

Section 1. That the City of Downs, Kansas, a city of the third class, who and by virtue of the power vested in it by Article 12, Section 5 of the Constitution of the State of Kansas, hereby elects to exempt itself and does hereby exempt itself from the provisions of K.S.A. 75-1120a, as amended by the 1981 supplements thereto, and makes said statues inapplicable to said city insofar as said statutes require the City of Downs, Kansas, to utilize accounting procedures and fiscal procedures in the preparation of financial statements and financial reports that conform to generally accepted accounting principals as promulgated by the national committee on governmental accounting and the American institute of certified public accountants and adopted by rules and regulations of the municipal accounting board.

(06-07-1982)