12-2706.   Sale of water; rates; use of reimbursements; assessments; taxlevies.Water from the common water supply shall be sold to the severalcontracting municipalities and corporations. The water shall be sold inbulk. Rates shall be fixed in such amounts that revenue therefrom shall beat least sufficient to pay all estimated annual costs of operation andmaintenance and debt service on all bonds issued by the contractingmunicipalities for the purpose of a common water supply. Reimbursementsreceived by municipalities for debt service on general obligation bondsissued under this act shall be credited to the bond and interest fund ofsuch municipality and reimbursements received for debt service on revenuebonds issued under this act shall be credited to a special fund of suchmunicipality to be used to pay the principal of and interest on the revenuebonds. Reimbursements received by municipalities for funds contributed frommoneys on hand or available which are not derived from the issuance ofbonds shall be credited to the funds of the municipality from which suchcontributions were made.

      In the event that a municipality shall contribute funds derived frombond issues and also from moneys on hand or available, such reimbursementsshall be credited to the bond and interest fund or such special fund toretire revenue bonds, as the case may be, until said bonds shall have beenretired and thereafter such reimbursements shall be credited to the fundsfrom which the moneys on hand or available were contributed. In the eventthat such revenues in any year are insufficient, the excess of cost overrevenues shall be assessed against and apportioned among the participatingmunicipalities and corporations as the contract shall provide, and shall bepaid by each such municipality from moneys on hand or available for suchpurpose or by levying a tax, at the first tax levying period after suchapportionment is made, on all the taxable tangible property in suchmunicipality sufficient to pay the cost to said municipality. Such tax levyshall be in addition to all other tax levies authorized or limited by lawand shall not be subject to any aggregate tax levy limitation prescribed byarticle 19 of chapter 79 of the Kansas Statutes Annotated, or actsamendatory thereof or supplemental thereto.

      History:   L. 1955, ch. 87, § 6; April 14.