19-2862a.   Same; revenue bonds for recreational facilities; leases; formandissuance of bonds.The park board in the name of the district is hereby authorized toprovide by resolution, at one time or from time to time, for the issuanceof Johnson county park and recreation district revenue bonds for thepurpose of paying all or any part of the cost of acquiring existingrecreational facilities or for acquiring real estate and for theconstruction of recreational facilities thereon or for the construction ofrecreational facilities upon land already owned by the district. The parkboard is hereby authorized to enter into an agreement for the lease of allor part of any recreational facility so acquired or constructed, upon suchterms and conditions as are satisfactory to the board and without thenecessity of advertising for competitive bids therefor. The principal ofand the interest on such bonds shall be payable solely from revenuesderived from the recreational facilities acquired or constructed with theproceeds of such bonds and from any other funds provided by law therefor.The bonds of each issue shall be dated, shall bear interest, shall matureat such time not exceeding 40 years from their date, as determined bythe board, and may be redeemable beforematurity at the option of the board, at such price and at suchtimes and under such conditions as may be fixed by the board prior to theissuance of the bonds. The board shall determine the form of the bonds,including any interest coupons to be attached thereto, and shall fix thedenomination of the bonds and the place ofpayment of principal and interest, which may be at any bank or trustcompany within or without the state. The bonds shall be signed by the chairpersonof the board or shall bear a facsimilesignature, and theofficial seal of the district shall be impressed thereon and attested bythe secretary of the board, and any coupons attached thereto shall bear thefacsimile signature of the chairperson of the board. Incase any officer whosesignature or a facsimile of whose signature appears on any bonds orcoupons ceases to be such officer before the delivery of such bonds,such signature or such facsimile shall nevertheless be valid and sufficientfor all purposes the same as if such officer had remained inoffice until suchdelivery. All bonds issued under the provisions of this act shall have allthe qualities and incidents of negotiableinstruments under the negotiable instruments law of the state. The bondsmay be issued in coupon or in registered form, or both, as the board maydetermine, and provision may be made for the registration of any couponbonds as to both principal and interest, forthe reconversion into coupon bonds of any bonds registered as to bothprincipal and interest and for the interchange of registered and couponbonds. The board may sell such bonds in such manner and for such price asit 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.