12-2719.   Same; reimbursement by city,limitations; tax levies; bonds.The governing body of such contracting city, pursuant to authorizingordinances as hereinafter provided, is hereby authorized to obligate itselfto reimburse the United States of America or any instrumentality orpolitical subdivision of the state government, such portion of the cost ofsuch storage and distribution facilities, not exceeding fifteen percent(15%) of the assessed valuation of the tangible property within thecorporate limits of the contracting city, and interest thereon notexceeding the maximum rate of interest prescribed by K.S.A. 10-1009, as maybe determined by such city and the United States of America, or anyinstrumentality or political subdivision of the state government, to beallocable to the municipal water supply and distribution facilities andrecreational area and facilities furnished or constructed by the UnitedStates of America, or any agency or instrumentality thereof, or with thestate of Kansas or any instrumentality or political subdivision thereof,and such contract for reimbursement may provide for payment of costsallocable to the city at the time of construction or may extend over suchperiod of years as is permissible under applicable laws and regulations fora period of not exceeding fifty (50) years, or may extend over any shorterperiod as may be agreed to by the governing body of such city.

      For the purpose of financing such reimbursement, such contracting cityis hereby authorized to levy an annual tax of not to exceed two (2) millson all the taxable tangible property of such city during the period of saidreimbursement contract. Such levy shall be in addition to all other taxlevies authorized by law, and shall not be subject to nor within theaggregate tax levy limits prescribed by article 19 of chapter 79 of theKansas Statutes Annotated, and acts amendatory thereof or supplementalthereto. The governing body of the city may also issue general obligationbonds of the city, subject to the limitations prescribed in this act, forthe purposes herein specified, and all such bonds shall be issued,registered, sold, delivered and retired in accordance with the applicableprovisions of the general bond law. Contractual obligations of thecontracting city shall not be subject to nor within any bonded debt orother debt or obligation limitation prescribed by the laws of the state ofKansas, and shall not be considered or included in applying any other lawlimiting bonded indebtedness or limiting other obligations of such cities.

      History:   L. 1959, ch. 86, § 2; L. 1970, ch. 64, §21; March 21.