Animal research facility debt service fund created; transfer of moneys to such fund; limitations on amounts transferred

(a) There is hereby created in the state treasury the animal research facility debt service fund. All expenditures from the animal research facility debt service fund shall be to repay the principal and interest on the loan authorized by K.S.A. 76-829 in the manner prescribed by this act and in accordance with the provisions of appropriations acts. (b) Subject to the provisions of subsection (d), the director of accounts and reports shall transfer the following amounts on the following dates from the state general fund to the animal research facility debt service fund: (1) On July 1, 1987, the amount of $250,000; (2) on July 1, 1988, the amount of $250,000; and (3) on July 1, 1989, the amount of $250,000; and (4) on July 1, 1990, the amount of $250,000. (c) From time to time during the term of the loan authorized by K.S.A. 76-829, the chancellor of the university of Kansas shall transfer in accordance with this subsection amounts from moneys appropriated and available to the university of Kansas medical center to the animal research facility debt service fund for the purposes of providing funds to repay the principal and interest on the loan authorized by K.S.A. 76-829. Upon the request of the chancellor, the director of accounts and reports shall transfer amounts from appropriations in accounts of the state general fund and in special revenue funds for the university of Kansas medical center as specified by the chancellor on the dates specified by the chancellor. All such transfers from special revenue funds shall be within and subject to existing expenditure limitations. No transfers shall be made under this subsection from any specific appropriations from the state general fund for operating expenditures for utilities or as may otherwise be restricted, limited or prohibited by law. (d) The amount equal to the total of (1) the amount of moneys transferred to the animal research facility project fund under subsection (c) of K.S.A. 76-829 and (2) the amount of moneys transferred to the animal research facility debt service fund under subsection (b) of this section, shall not exceed the amount equal to ½ of the total actual cost of the capital improvement project described in K.S.A. 76-829. Prior to making any transfer prescribed under subsection (b) of this section, if the director of accounts and reports determines that to transfer the full amount prescribed under subsection (b) would violate the provisions of this subsection (d), the director shall proportionally reduce the amounts remaining to be transferred under subsection (b) accordingly and thereafter shall transfer such reduced amounts in accordance with subsection (b).