13-13,100.   Same; terms.Revenue bonds issued under the provisions of this act shall mature not laterthan 40 years after the date of issuance. Such bonds shall bear interestat a rate not to exceed the maximum rateof interest prescribed by K.S.A. 10-1009, and amendments thereto. In nocase where revenue bondsare issued pursuant to this act, after theproject has beencompleted, shall the total amount received therefrom be in excess of the actualcosts of the project. In the case where the bonds are issued prior tocompletion of the project and the total amount received therefromexceeds theactual costs of the project when completed, then the excess shallforthwith be deposited in a separate fund and shall not be used exceptfor the purpose of paying the principal of and the interest upon therevenue bonds issued under the act. No board or municipality shall haveany right or authority to levy taxes to pay any of the principal of orinterest on any such bond or any judgment against the issuing board ormunicipality on account thereof, and the provisions of K.S.A. 10-113, andamendments thereto,shall not apply to any bonds issued hereunder.

      History:   L. 1967, ch. 110, § 6; L. 1970, ch. 64, § 32; L. 1978,ch. 99, § 18; L. 1983, ch. 49, § 64; May 12.