13-1241

Chapter 13.--CITIES OF THE FIRST CLASS
PART I.--GOVERNMENT BY MAYOR AND COUNCIL AND GENERAL LAWS

Article 12.--PUBLIC UTILITIES

     
13-1241.   Same; maturity; tax levy not authorized.
Revenue bonds issued under the provisions of this act shall mature to conform
to the plan of liquidation and payment of the bonds and interest thereon. The date
of maturity of the bonds shall not be fixed for a longer period
of time than 40 years after the date of issuance. The bonds shall bear interest
at a rate not to exceed the maximum rate of
interest prescribed by K.S.A. 10-1009, and
amendments thereto.
Such city shall have no right or authority to levy taxes to pay the
principal or interest of revenue bonds as defined herein and the
provisions of K.S.A. 10-113, and amendments thereto, shall not apply to this act.

     
History:   L. 1933, ch. 43, § 4 (Special Session); L.
1970, ch. 64, § 24; L. 1978, ch. 99, § 15; L. 1983, ch. 49, § 59; May 12.