10-1205.   Liens on revenues of utilities; recitals; negotiability.Such revenue bonds are hereby made a lien on the revenues produced fromsuch utility, which revenues may be pledged for the benefit of bondholdersto a trustee under a trust agreement, but such bonds shall not be a generalobligation of the issuingmunicipality and shall not contain the recital set forth in K.S.A. 10-112,or any amendments thereto, but shallcontain recitals stating theauthority under which such bonds are issued, that they are issued inconformity with the provisions, restrictions and limitations of thatauthority, that such bonds and the interest thereon are to be paid bythe issuing municipality from the revenues derived from the rates, feesor charges herein mentioned and not from any other fund or source, thatthe same have been registered in the office of the clerk of the issuingmunicipality and the state treasurer of the state of Kansas,respectively, and that said bonds are negotiable. All such bonds, whenregistered and issued, as herein provided, shall import absolute verityand shall be conclusive in favor of all persons purchasing such bondsthat all proceedings and conditions precedent have been had andperformed to authorize the issuance thereof and such bonds shall benegotiable and may be issued in addition to the statutory limit ofbonded indebtedness of the issuing municipality.

      History:   L. 1947, ch. 107, § 5; L. 1974, ch. 45, § 9; L. 1979,ch. 47, § 2; July 1.