12-863. Same; revenue bonds; liens; recitals; negotiability; general obligation bonds where combined water and sewage system.
12-863
12-863. Same; revenue bonds; liens; recitals; negotiability; general
obligation bonds where combined water and sewage system.
All bonds issued under the provisions of K.S.A. 12-862 shall
be revenue bonds and such bonds are hereby made a lien on the revenues
produced from the water and sewage system, but shall not be general
obligations of the city and shall not contain the recital set forth in
K.S.A. 10-112 and amendments thereto, but shall contain recitals stating
that they are issued in conformity with the provisions, restrictions and
limitations of this act, that such bonds and the interest thereon are to be
paid by the issuing city from the revenues derived from the rates and
charges herein mentioned and not from any other fund or source, that the
same have been registered in the office of the city clerk of the issuing
city and the auditor of the state of Kansas, respectively, and that said
bonds are negotiable. All such bonds, when registered and issued, as herein
provided, shall import absolute verity and shall be conclusive in favor of
all persons purchasing such bonds that all proceedings and conditions
precedent have been had and performed to authorize the issuance thereof and
such bonds shall be negotiable and may be issued in addition to the
statutory limit of bonded indebtedness of the issuing city.
Any city which has combined its water and sewage system under the
provisions of K.S.A. 12-857 may issue general obligation bonds for the
improvement of such system in the same manner and subject to the same
limitations as such city could issue if it had not combined the system.
History: L. 1953, ch. 72, § 8; L. 1974, ch. 60, § 2;
July 1.