19-15,101. Same; costs; no-fund warrants authorized; limitations; tax levies.
19-15,101
19-15,101. Same; costs; no-fund warrants authorized; limitations;
tax levies.
To pay for the improvements or demolition authorized by this act, the
board of county commissioners of such counties may issue no-fund
warrants and the provisions of K.S.A. 79-2940, and amendments thereto, shall
apply in issuing said warrants
except that the notation required in said section shall be: "Issued
pursuant to authority of law" (followed by the citation of this act).
The board shall use the proceeds of such no-fund warrants to pay all
costs of the aforesaid improvement or demolition. The total of such
warrants issued shall not exceed five hundred thousand dollars
($500,000), and the principal and the interest thereon may be payable in
approximate equal installments over a period of not to exceed five (5)
years from the date following their issuance. The said board shall make
a levy at the first tax levying period after such warrants are issued,
and each year thereafter, sufficient to pay such warrants and the
interest thereon, until all warrants and interest have been paid in
full.
History: L. 1961, ch. 162, § 3; June 30.