Farmers Bank & Trust v. Homestead Community Development

No. 120,671 IN THE COURT OF APPEALS OF THE STATE OF KANSAS FARMERS BANK & TRUST, Appellant, v. HOMESTEAD COMMUNITY DEVELOPMENT, et al., Appellees. SYLLABUS BY THE COURT 1. The Cash-Basis Law provides that it shall be unlawful for the governing body of any municipality to create any indebtedness in excess of the amount of funds actually on hand in the treasury of such municipality at the time for such purpose. A municipality must keep a record of the debt and the particular fund from which payment is to be made, and any person contracting with the municipality shall be chargeable with…