17-2352.   Bonds of municipality; resolution; terms and conditions.Bonds of a municipality shall be authorized by its resolution and may beissued in one or more series and shall bear such date or dates, matureat such time or times, bear interest at such rate or rates, notexceeding the maximum rate prescribed by K.S.A. 10-1009, tobe in such denomination or denominations, be in such form either couponor registered, carry such conversion or registration privileges, havesuch rank or priority, be executed in such manner, be payable in suchmedium of payment, at such place or places, and be subject to such termsof redemption (with or without premium) as such resolution, its trustindenture or mortgage may provide.

      The bonds may be sold at public or private sale at not less than par.

      In case the commissioners or officers of the municipality orauthority whose signatures appear on any bonds or coupons shall cease tobe such commissioners or officers before the delivery of the bonds,their signatures shall, nevertheless, be valid and sufficient for allpurposes, the same as if the commissioners or officers had remained inoffice until such delivery. Any provision of any law to the contrarynotwithstanding, any bonds issued pursuant to this act shall be fullynegotiable.

      In any suit, action or proceedings involving the validity orenforceability of any bond issued pursuant to this act or the securitytherefor, any such bond reciting in substance that it has been issued bythe municipality pursuant to this act shall be conclusively deemed tohave been issued for such purpose and the housing project in respect towhich such bond was issued shall be conclusively deemed to have beenplanned, located and carried out in accordance with the purposes andprovisions of this act.

      History:   L. 1957, ch. 132, § 16; L. 1970, ch. 64,§ 46; L. 1973, ch. 96, § 12; July 1.