12-5221.   Definitions.Whenever used in this act, the following words and terms shall have thefollowing respective meanings unless different meanings clearly appear from thecontext:

      (a)   "Bonds" means any revenue bonds or notes authorized under this actand payable as provided hereunder.

      (b)   "City" means any city organized and existing under the laws of thestate of Kansas.

      (c)   "Condominium" means any condominium as defined in K.S.A. 58-3102.

      (d)   "County" means any county in the state of Kansas.

      (e)   "Solar energy system" means any solar energy system as defined insubsection (a) of K.S.A. 79-32,169, and amendments thereto.

      (f)   "Governing body" means the city council or city commission ofa city or the board of county commissioners of a county.

      (g)   "Home" (1) means (A) a one- to four-family residence;

      (B)   a condominium;

      (C)   a manufactured home, as defined by K.S.A. 58-4202, andamendments thereto; or

      (D)   a mobile home, as defined byK.S.A. 58-4202, and amendmentsthereto, havinga permanent foundation which may not be removed intact from the land; and

      (2)   consists of the land and improvements thereon, located within a cityor county and which is either owned and occupied or is owned and is to beoccupied by the mortgagor, and in the case of a two- to four-family residence,one unit of the residence shall be either owned and occupied or is ownedand is to be occupied by the mortgagor.

      (h)   "Home mortgage loan" means an interest-bearing loan to a mortgagorevidenced by a promissory note and secured by a mortgage, purchased ororiginatedin accordance with this act (1) made for the purpose of acquiring a home;or (2) made for the purpose of acquiring and rehabilitating a home;or (3) made for the purpose of paying the costs of rehabilitating or improvinga home. No city or county shall fix or establish any minimum home valuefor the purpose of limiting loan eligibility fora home mortgage loan under the provisions of this act.

      (i)   "Lender" means any lending institution participating in a residentialhousing finance plan as the originator of home mortgage loans or asa servicing agent for home mortgage loans.

      (j)   "Lending institution" means any bank, bank holding company, creditunion, trust company, savings bank, national banking association, savingsand loan association, building and loan association, mortgage banker orother financial institution which customarily provides service or otherwiseaids in the financing of home mortgages, or any holding company for anyof the foregoing.

      (k)   "Mortgagor" means any person of low and moderate income who has receivedor qualifies to receive a home mortgage loan on a home.

      (l)   "Ordinance" means an ordinance adopted and approved by the governingbody of a city or a resolution adopted and approved by the board of countycommissioners of a county.

      (m)   "Person" means a natural person or a trust for the benefit of a natural person.

      (n)   "Persons of low and moderate income" means a person or family, consistingof one or more persons all of whom occupy or will occupy the home, whoseaggregate gross income including the gross income of any cosigner or guarantorof the promissory note made in connection with the making of a home mortgageloan shall not exceed a maximum amount to be established by the city orcounty subject to the limitations provided herein,and determined in accordance with appropriate criteria, rules and regulations,approved by the governing body of a city or county in connectionwith the implementation of a residential housing finance plan.

      (o)   "Residential housing finance plan" means a program implemented underthis act by a city or county to assist persons of low and moderate incomein acquiring safe, decent and sanitary housing which they can afford. Suchplan shall include provisions allowing each lending institution with anoffice located within the limits of the issuing city or county, or any cityor county signatory to a cooperativeagreement, pursuant to K.S.A. 12-5231, and amendments thereto, an equalopportunity to participate in accordance with standards and requirementsestablished by such city or county.

      History:   L. 1982, ch. 60, § 3; L. 1983, ch. 71, § 2;L. 1991, ch. 33, § 27; July 1.