13-1273. Same; transfer of funds not authorized if general obligation bonds outstanding; exceptions.
13-1273
13-1273. Same; transfer of funds not authorized if general obligation
bonds outstanding; exceptions.
When any city, which has under the provisions of this act been transferring
utility funds to funds used for governmental purposes in accordance with
the provisions of this act, issues general obligation bonds against its
utility or utilities as herein enumerated, then such city shall automatically
be excluded from the benefits and provisions of this act as to such of its
utilities as have a bonded debt until such general obligation bonded indebtedness
so created on its utility or utilities be paid, or provisions be made for
the retirement of the general obligation bonded indebtedness by deposits
in its sinking funds as provided in K.S.A. 13-1270, and amendments thereto.
History: L. 1945, ch. 129, § 5; L. 1980, ch. 72, § 21; April 14.