Kansas Administrative Regulations
Agency 36 - KANSAS DEPARTMENT OF TRANSPORTATION
Article 41 - PUBLIC SAFETY COMMUNICATION SYSTEM REVOLVING FUND
Section 36-41-4 - Interest rate and service fees
Current through Register Vol. 43, No. 52, December 26, 2024
(a) Each equipment lease agreement payment shall include an interest component based on the amortized balance of the cost of the equipment, in accordance with the amortization schedule incorporated in the equipment lease agreement. The interest rate for each equipment lease agreement shall be the published rate in effect on the effective date of the agreement, as that rate is established and published by the secretary on the first day of each month. This rate shall be consistent with the provisions of K.S.A. 10-1009 and amendments thereto.
(b) Any access lease agreement with an authorized governmental entity or an authorized public safety agency and any equipment lease agreement with an authorized public safety agency may include fees for services provided by the department related to the applicable lease agreement, which shall be detailed in the agreement.