12-3415.   Same; borrowing money; issuance of notes,bonds and other evidence of indebtedness; approval required.(a) For the purpose of paying all or any part of the cost of purchasingor acquiring landor interests therein, and the cost of purchasing, acquiring, constructing,equipping, reconstructing, improving, repairing, enlarging, remodelingand furnishing buildings, structures, plants, docks, wharves,warehouses, piers, sidings and other water-port facilities, airport facilities,terminal facilities, land transportation facilities, railroad facilitiesor industrial-use facilities or any part thereof; includingadditions, improvements, relocations, renovations, extensions andmodifications thereof (all of which as are included in a single projectare hereafter referred to in this act as "facility or facilities"), aport authority created pursuant to this act, is authorized to borrowmoney upon credit of the income and revenues to be derived from theoperation of such facilities, together with any other available incomeand revenues from other revenue producing facilities of such portauthority, and to issue negotiable notes, bonds or other evidence ofindebtedness authorized under subsection (b) of K.S.A. 12-3406, and amendmentsthereto, of such port authority in suchamount as the board of directors of the port authority shall deemnecessary for the purpose; and to provide for payment of such notes,bonds or other evidence of indebtedness andrights of holders thereof as herein provided.

      (b)   The port authority shall not issue bonds without first having receivedapproval, by resolution, of the governing body of thecities or counties which comprise such port authority.

      History:   L. 1969, ch. 89, § 15; L. 1980, ch. 70, § 6; L. 1981,ch. 76, § 11;L. 1987, ch. 75, § 11;L. 2003, ch. 28, § 2; Apr. 10.