12-17,168. Additional STAR bond issuance authority for existing project; approval of secretary; limitations.
12-17,168
12-17,168. Additional STAR bond issuance authority
for existing project; approval of secretary; limitations.
(a) Any city or county which has received approval for a
STAR
bond
project may request STAR bond issuance authority to issue additional STAR bonds
in an amount
in excess of the amount previously approved by the secretary. Any city or
county requesting such
additional STAR bond issuance authority shall make application for approval to
the secretary.
Such application shall include all information required to be submitted to the
secretary for initial
approval of a STAR bond project, including, but not limited to, a feasibility
study as required by
K.S.A. 2009 Supp.
12-17,166, and amendments thereto.
(b) The secretary shall review all of the information submitted by the city
or county in
the request for additional STAR bond issuance authority and determine whether
to approve a
request, and, if approved, issue an approval letter for additional STAR bond
issuance authority
based upon the requirements within this act and rules and regulations developed
by the secretary.
(c) The secretary may approve such additional STAR bond issuance authority in
an
amount not to exceed 50% of the total costs of the addition or expansion to the
STAR bond
project for which the additional STAR bond issuance authority is sought,
including all project
costs and any other costs related to the project addition or expansion. The
proceeds of such
additional STAR bond financing may only be used to pay for incurred project
costs of such
addition or expansion.
History: L. 2007, ch. 179, § 9; July 1.