13-1239.   Same; definition; recitals; negotiability.Revenue bonds, as the term is used in this act, are defined to be bondsissued by any such city in this state to be paid exclusively from therevenue produced by the property and facilities improved, constructed,reconstructed, repaired or otherwise improved by the use of the proceeds ofsaid bonds. Such revenue bonds shall not be general obligations of thecity, and shall not contain the recitals set forth in K.S.A. 10-112 and anyamendments thereof. Such revenue bonds shall, however, contain thefollowing recitals, viz.: such bonds shall recite the authority under whichsaid revenue bonds are issued, and that they are issued in conformity withthe provisions, restrictions and limitations thereof, and that such bondsand the interest thereon are to be paid from the money and revenue receivedfrom the fees charged and rental received for the use of the property andfacilities improved, constructed, reconstructed, repaired or otherwiseimproved by the proceeds, in whole or in part, of such revenue bonds whenissued and sold.

      Said revenue bonds shall recite, also, that the same have beenregistered in the office of the city clerk of said city, and in the officeof the auditor of the state of Kansas, and when said bonds have been dulyregistered as herein provided, shall import absolute verity, and shall beconclusive as to said recitals, in favor of all persons purchasing saidbonds, and that all proceedings and conditions precedent have been had andperformed to authorize the issuance of said bonds, and said bonds shall benegotiable.

      History:   L. 1933, ch. 43, § 2 (Special Session); Nov. 21.