10-1204.   Revenue fund; use; application of 12-825d, 13-1269 to 13-1274.Revenue derived from the operation of any utility financed in whole orin part by revenue bonds authorized by this act shall be paid into thetreasury of the municipality or into the treasury of its board of publicutilities and kept in a separate fund, and shall be used only for thepurpose of paying the cost of operation, maintenance, alteration,reconstruction, repair, improvement, extension and enlargement of suchutility, providing either a depreciation fund or a renewal andreplacement fund, providing a reserve fund and paying the principal of,and the interest upon, the revenue bonds and paying the principal of,and the interest upon, any and all prior existing and subsequently issuedrevenue and generalobligation bonds or other liens or indebtedness against any such utilityor facility except that (1) all the provisions of K.S.A. 12-825d shall remainin force whensufficient revenues have been set aside for the current year's principal andinterest upon the revenue bonds and (2) all the provisions of K.S.A. 13-1269to 13-1274, inclusive, and amendments thereto, shall remain in force whenthe provisions of K.S.A. 13-1270, and amendments thereto, are complied with.

      History:   L. 1947, ch. 107, § 4; L. 1949, ch. 117, § 2; L.1969, ch. 68, § 1; L. 1979, ch. 47, § 1; L. 1980, ch. 72, § 1; April 14.