12-865.   Same; revenue bonds;terms; disposition of excess funds.Revenue bonds issued under the provisions of this act shall mature not laterthan 40 years after the date of issuance. The bonds shall bear interestat a rate not to exceed the maximum rateof interest prescribed by K.S.A. 10-1009, and amendments thereto. In no casewhererevenue bonds are issuedunder and by virtue of this act shall the total amount received therefrom be inexcess of the actual cost of the project. No city shall have any rightor authority to levy taxes to pay any of the principal of or interest onany revenue bonds or any judgment against the issuing city on accountthereof and the provisions of K.S.A. 10-113, and amendments thereto,shall not apply to anybonds issued hereunder.

      History:   L. 1953, ch. 72, § 10; L. 1969, ch. 77, § 1; L. 1970,ch. 64, § 11; L. 1978, ch. 99, § 11; L. 1983, ch. 49, § 45; May 12.