19-2862a. Same; revenue bonds for recreational facilities; leases; form and issuance of bonds.
19-2862a
19-2862a. Same; revenue bonds for recreational facilities; leases; form
and
issuance of bonds.
The park board in the name of the district is hereby authorized to
provide by resolution, at one time or from time to time, for the issuance
of Johnson county park and recreation district revenue bonds for the
purpose of paying all or any part of the cost of acquiring existing
recreational facilities or for acquiring real estate and for the
construction of recreational facilities thereon or for the construction of
recreational facilities upon land already owned by the district. The park
board is hereby authorized to enter into an agreement for the lease of all
or part of any recreational facility so acquired or constructed, upon such
terms and conditions as are satisfactory to the board and without the
necessity of advertising for competitive bids therefor. The principal of
and the interest on such bonds shall be payable solely from revenues
derived from the recreational facilities acquired or constructed with the
proceeds of such bonds and from any other funds provided by law therefor.
The bonds of each issue shall be dated, shall bear interest, shall mature
at such time not exceeding 40 years from their date, as determined by
the board, and may be redeemable before
maturity at the option of the board, at such price and at such
times and under such conditions as may be fixed by the board prior to the
issuance of the bonds. The board shall determine the form of the bonds,
including any interest coupons to be attached thereto, and shall fix the
denomination of the bonds and the place of
payment of principal and interest, which may be at any bank or trust
company within or without the state. The bonds shall be signed by the chairperson
of the board or shall bear a facsimile
signature, and the
official seal of the district shall be impressed thereon and attested by
the secretary of the board, and any coupons attached thereto shall bear the
facsimile signature of the chairperson of the board. In
case any officer whose
signature or a facsimile of whose signature appears on any bonds or
coupons ceases to be such officer before the delivery of such bonds,
such signature or such facsimile shall nevertheless be valid and sufficient
for all purposes the same as if such officer had remained in
office until such
delivery. All bonds issued under the provisions of this act shall have all
the qualities and incidents of negotiable
instruments under the negotiable instruments law of the state. The bonds
may be issued in coupon or in registered form, or both, as the board may
determine, and provision may be made for the registration of any coupon
bonds as to both principal and interest, for
the reconversion into coupon bonds of any bonds registered as to both
principal and interest and for the interchange of registered and coupon
bonds. The board may sell such bonds in such manner and for such price as
it determines will best effect the purposes of this act.
History: L. 1968, ch. 227, § 2; L. 1970, ch. 113, § 1; L. 1974,
ch. 125, § 1; L. 1983, ch. 49, § 69; May 12.