DALLAS - The Kansas Finance Council on Monday approved a request by Gov. Mark Parkinson to transfer $700 million from various government accounts into the general budget fund so the state can make scheduled payments to school districts and taxpayers.

The resulting $700 million in certificates of indebtedness must be repaid by the end of the current fiscal year in June 2010. State law requires Kansas to show it can pay back internal borrowing before the council can approve the certificates.

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