12-843.   Same; bonds; election; limitation; use of surplus revenues. For any and all indebtedness, obligation or liability contracted for orcreated for any of the purposes mentioned in K.S.A. 12-842, any such city,acting under the provisions thereof, is hereby granted full power andauthority to issue bonds of the city to an amount equal to suchindebtedness, obligation, or liability; the power to create or incur suchindebtedness, obligation, or liability, and to issue bonds as hereinprovided, being independent of and in addition to like and other powersheretofore granted such cities; and such bonds may be sold as provided bylaw, and the proceeds thereof used in the payment of such indebtedness,obligation, or liability; such bonds shall not be used or sold except asdirected by the governing body of said city, and such bonds shall not beissued to an aggregate amount exceeding fifteen percent of the assessedvalue of such city as shown by the assessment last preceding the issuancethereof: Provided, That no bonds shall be issued except upon a vote ofa majority of the qualified electors of such city: And providedfurther, That any such city shall have full power and authority to useany surplus arising from the proceeds of any such plant or plants for thepurpose of bettering, constructing or installing any such plant that suchcity may have or may desire to acquire by construction or purchase.

      History:   R.S. 1923, § 12-843; Dec. 27.