19-27a22.   Revenue bonds for sewer projects in urban areas.(a) The governing body of any sewer district located in acounty designated an urban area under the provisions of K.S.A. 19-3524,and amendments thereto, without an election thereon, may issue revenue bondsto (1) acquireproperty rights in connection with disposalof sewage, either within or outside the state; (2) enlarge mainsewers of the district; (3) construct disposal plants; (4) acquire or constructrevenue producing improvementsfor the district; and (5) provide funds to enable the governing bodyto exercise any of its powers. All revenue bonds issued shall besecured by a pledge of the revenues of the district, including user fees,charges and other revenues, any ofwhich may be pledged to their payment.

      (b)   Prior to issuing any revenue bonds, the governing body shall adopta resolution, whichshall be recorded in its journal, declaring the acquisition orimprovement necessary to be done and authorize issuance of revenue bondsto pay all or part of the costs thereof, including legal, engineeringand other special costs. The resolution shall specify the amount ofbonds to be issued, the rate of interest thereon, the maturity dates andthe purpose for which the proceeds are to be expended.Revenuefrom the operation of any improvement financed in whole or in part byrevenue bonds shall be paid into the treasury of thesewer district and kept in a separate fund to be used only for thepurpose of paying the cost of operating and maintaining theimprovement, providing an adequate depreciation fund and paying theprincipal and interest on the revenue bonds issued.

      History:   L. 1983, ch. 99, § 23; July 1.