12-3416.   Port authorities; conditions of bonds; negotiability.Bonds and other obligations authorized by this act shall be executed bythe chairperson and secretary of the port authority. Such bonds and otherobligations may be issued in one or more series, maybear such date or dates, may mature at such time or times not exceeding40 years from their date, may be in such denominations and insuch form, either coupon or registered, may carry such registration andconversion privileges, may be executed in such manner, may be payable insuch medium of payment at such place or places, may be subject to suchterms of redemption with or without premium, and may bear such rate ofinterest, and may contain such other terms and conditions not inconsistentwith this act, as may be provided by official resolution of the board ofdirectors of such port authority, notwithstanding the provisions of anyother statute affecting the issuance of municipal bonds.

      Such bonds may be sold in such manner and at such price or prices,not less than par plus accrued interest to date of delivery, as providedin K.S.A. 12-3428, and amendments thereto. Bonds issued under this act aredeclared to be negotiable instruments.

      History:   L. 1969, ch. 89, § 16; L. 1981, ch. 76, § 12;L. 1987, ch. 75, § 12; July 1.