12-3721. Appropriation to department of health and environment; deposit in debt service reserve fund; first claim and lien.
12-3721
12-3721. Appropriation to department of health and environment;
deposit in debt service reserve fund; first claim and lien.
There is hereby appropriated to the department of health and environment
from the self-insurance reserve fund established by K.S.A. 12-3722 et
seq. for the fiscal year ending June 30, 1973, one million five hundred
thousand dollars ($1,500,000) which shall be transferred by the director of
accounts and reports upon vouchers approved by the secretary of health and
environment for deposit to the credit of the debt service reserve fund as
the same is established under the resolution authorizing the issuance of
revenue bonds, or the trust agreement securing the same, under this act at
the time or times of the payment for and delivery of such revenue bonds in
an amount or amounts equal to the maximum amount required in any year to
pay the principal of, including any mandatory payment to retire bonds prior
to their maturity, and the interest on such revenue bonds. There is hereby
created a first claim and lien upon one million five hundred thousand
dollars ($1,500,000) in the self-insurance reserve fund for obligations of
the debt service reserve fund for transfer in all succeeding fiscal years
for the same purpose as is specified in the first sentence of this section.
History: L. 1973, ch. 69, § 12; L. 1975, ch. 462, § 10; July 1.