k1018 BC-KS-KansasBudget 07-03 0186
Published on -7/3/2009, 10:34 AM
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Kan. gov. likely to get OK for internal borrowing
Eds: APNewsNow. Will be led.
TOPEKA, Kan. (AP) -- Gov. Mark Parkinson is likely to gain legislative approval for internal borrowing to allow Kansas to keep paying its bills on time.
Parkinson wants to shift $700 million from various funds around state government into the state's main bank account. The money would have to be returned by the end of June 2010.
Such borrowing requires the approval of the State Finance Council, which is the governor and the Legislature's top eight leaders. Parkinson is a Democrat, and six of the eight lawmakers are Republicans.
The council meets Monday, and most of its Republican members see the need for the borrowing, though a few are worried about the amount.
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