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Bond counsel: resolution to end quarter‑cent sports complex sales tax coming; commissioners discuss managing $2M in funds
Summary
Bond counsel told Atchison County commissioners a resolution to end a quarter-cent sports complex sales tax will be prepared for an August or September meeting and must reach the Department of Revenue by Oct. 1, 2026; commissioners reviewed that the dedicated sports complex account holds $2,044,003.58 and discussed legal limits on using and investing dedicated funds.
County officials on July 7 were told bond counsel will draft a resolution to terminate the county’s 20-year quarter-cent sports complex sales tax; the county must submit the resolution to the Kansas Department of Revenue by Oct. 1, 2026, to make the tax end effective Jan. 1, 2027.
The chair relayed counsel’s timeline: the resolution will appear at an upcoming meeting in August or September and then be sent to the Department of Revenue prior to Oct. 1, 2026, so the tax will officially end on Jan. 1, 2027.
A treasurer-provided account update was read into the record: the senior village CD balance was reported at roughly $1,200,000, with $23,333 in interest accrued so far in 2026, and the Atchison Sports Complex dedicated balance was $2,044,003.58 earning about 3.26% interest. “Paige just sent us information for the sports complex. So, the balance as of today is $2,044,003.58,” the chair reported.
A lawyer who addressed the commission explained legal constraints for dedicated public funds. “When the word dedicated is inserted — that’s enforceable under law, and that means only for that purpose,” counsel said, adding that the county is a fiduciary and must secure deposits and seek prudent returns. Counsel listed permissible investment types as conservative, Treasury-grade options and cautioned against speculative investments.
Commissioners discussed options for holding the funds in a dedicated account to continue earning interest and for USD 377 (the school district that historically receives a share) to take its portion and invest or spend it if it assumes ownership. No formal decision was recorded about changing the funds’ custody; counsel said the county may use municipal investment pools or secured deposits to maximize safe returns.
Next steps: bond counsel will prepare the resolution for a future meeting; the commission will consider formal action then and will follow legal guidance when deciding how to hold or distribute the dedicated funds.
