19-2818. Bonds; petition; election; tax levy.
19-2818
19-2818. Bonds; petition; election; tax levy.
For the purpose of carrying out the provisions of this act, the board of
county commissioners may issue and sell the bonds of such county, in an
amount not exceeding one-tenth of one percent of the total amount of
assessed valuation of such county for the fiscal year next preceding the
issuance of such bonds and such bonds may be issued and sold without the
necessity of an election unless a petition in opposition to the issuance
of such bonds without an election signed by not less than twenty percent
(20%) of the qualified electors in any such county shall be filed with
the county clerk of the county within thirty (30) days following the
passage of a resolution by the board of county commissioners declaring
their intention to acquire title to lands for the purposes of park and
recreational grounds, in which event it shall be the duty of the board
of county commissioners of such county to submit the question of such
bond issue to the voters at the next general election. Any bonds issued
by such county under the provisions of this act shall be serial bonds,
payable in not less than ten (10) equal annual installments nor more
than thirty (30) equal annual installments over a
period of not to exceed thirty (30) years and shall bear interest at a
rate not to exceed the maximum rate of interest prescribed by K.S.A. 10-1009
and the board of county commissioners shall
make a levy on all taxable property in such county to pay the principal
and interest on the said bonds as the same become due and payable.
History: L. 1935, ch. 142, § 5; L. 1970, ch. 64, §
60; L. 1978, ch. 99, § 25; April 25.