19-28,109.   Same; comprehensive planrequired; issuance of bonds or notes; conditions, restrictions and procedures;charges for use and services of facilities; allocation of revenues; refundingbonds.(a) Before the authority issues any bonds or notes, it shall adopta comprehensive plan for the development of the sports complex for whichbonds are to be issued. Such plan shall include a detailed andsystematic projection of the construction of all access roads andparking facilities required to implement the operation and management ofthe complex, and the estimated cost of constructing access roadsand parking facilities shall be included in and be a part of theestimated costs of constructing the sports complex.

      Prior to the issuance of any bonds under this act, the authorityshall cause to be published once each week for two consecutive weeksin a newspaper of general circulation in the county a notice of itsintention to issue its bonds or notes. The notice shall describe theproposed facility to be paid for out of the proceeds ofthe bonds or notes, and shall state the maximum amount of bonds or notesto be issued. If the authority has requested or will request the boardof county commissioners to levy an entertainment tax pursuant to K.S.A.19-28,111, and amendments thereto, to provide funds to be used to pay theproposed bonds or notes, the published notice of intention shall statethat such a request has been or will be made and shall specify themaximum rate of tax requested and to whom the tax will apply. If, within60 days after the last publication of such notice, there is filedwith the county election officer a written protest against theproposed facility and the proposed bond issue, signed bynot less than 5% of the qualified electors of the county,the authority shall submit the proposed facility and theproposed bond issue to the electors of the county at a bond election tobe called for that purpose. The electionshall be called and held in accordance with the provisions of the general bond law.If a majority of the votes cast and counted at such election are infavor of the proposition, such bonds may be issued by the authority, andthe board of county commissioners, upon receipt of a request from theauthority, may levy an entertainment tax pursuant to K.S.A.19-28,111, and amendments thereto, in an amount not greater than the amountspecified in the notice of election.

      (b)   Bonds or notes of the authority shall be issued pursuant to aresolution adopted by the authority, which shall set out the estimatedcost to the authority of the proposed facility, and shallfurther set out the amount of bonds or notes to be issued, theirpurposes, their date, denomination, rate of interest, time of payment, bothof principal and ofinterest, place of payment and all other details in connectiontherewith. Any such bonds or notes may be subject to such provisions forredemption prior to maturity, with or without premium, and at such timesand upon such conditions as may be provided by the resolution.

      Such bonds or notes shall bear interest at a rate not exceedingthe maximum rate prescribed by K.S.A. 10-1009, andamendments thereto, shall maturewithin a period not exceeding 50 years and shall be sold at apublic sale for not less than 95% of the principalamount thereof. Bonds or notes issued by an authority shall possess allof the qualities of negotiable instruments under the laws of this state.

      Such bonds or notes may be payable to bearer, may be registered orcoupon bonds or notes and if payable to bearer, may contain suchregistration provisions as to principal and interest as provided inthe resolution authorizing thesame, which resolution also may provide for the exchange of registeredand coupon bonds or notes. Such bonds or notes and anycoupons attached thereto shall be signed in such manner and by suchofficers of the authority as provided for by the resolutionauthorizing the same. The authority may provide for the payment of anybond or note in the manner authorized in article 5 of chapter 10of the KansasStatutes Annotated.

      (c)   Bonds or notes issued by an authority shall be payable as toprincipal, interest and redemption premium, if any, out of the proceedsof an entertainment tax levied as provided in K.S.A. 19-28,111, and amendments thereto, and out of other general fundsof the authority, includingrents, revenues, receipts and income derived and to be derived for theuse of any facility or combination of facilities, or any part or partsthereof, acquired, constructed, improved or extended in whole or in partfrom the proceeds of such bonds or notes, including but not limited tostadium rentals, concessions, revenues from parking facilities and fromfunds derived from any other facility, or any part thereof, owned oroperated by the authority, all or any part of which rents, revenues,receipts and income the authority is authorized to pledge for thepayment of the principal, interest and redemption premium, if any.

      (d)   Bonds or notes of the authority may be further secured by amortgage or deed of trust upon the rents, revenues, receipts and incomeherein referred to or any part thereof or upon any leasehold interest orother property owned by the authority, or any part thereof, whether thenowned or thereafter acquired. The proceeds of such bonds or notes shallbe disbursed in such manner and under such restrictions as the authorityprovides in the resolution authorizing the issuance of such bonds ornotes or in any such mortgage or deed of trust.

      (e)   It shall be the duty of the authority to fix and maintain ratesand make and collect charges for the use and services of its interest inthe facility or any part thereof operated by the authoritywhich, when combined with the proceeds of any entertainment tax whichmay be levied and collected pursuant to K.S.A.19-28,111, and amendments thereto, shall be sufficient to pay the costof operation and maintenancethereof, to pay the principal of and interest on any such bonds or notesand to provide funds sufficient to meet all requirements of theresolution by which such bonds or notes have been issued.

      (f)   The resolution authorizing the issuance of any such bonds ornotes may provide for the allocation of rents, revenues, receipts andincome derived and to be derived by the authority from the use of anyfacility or part thereof and from the levy and collection of anyentertainment tax pursuant to K.S.A. 19-28,111, and amendments thereto, in suchseparate accounts as deemed advisable to assure theproper operation and maintenance of any facility or part thereof and theprompt payment of any bonds or notes issued to finance all or any partof the costs thereof. Such accounts may include reserve accountsnecessary for the proper operation and maintenance of any such facility,or any part thereof, and for the payment of any such bonds or notes.Such resolution may include such other covenants and agreements by theauthority as in its judgment are advisable or necessary to secure the paymentof such bonds or notes.

      (g)   The authority may issue refunding bonds forthe purpose of refunding, extending or unifying the whole or any part ofsuch bonds or notes then outstanding. Such refunding bondsshall be issued in the manner prescribed by and subject to the provisionsof K.S.A. 10-116a, and amendments thereto.

      History:   L. 1972, ch. 84, § 5; L. 1977, ch. 58, § 14; L. 1983,ch. 49, § 70; May 12.