19-3557.   General obligation bonds; certaindistricts; refunding of revenue bonds; tax levies.(a) The provisions of this section shall apply to public wholesale watersupply districts No. 4, No. 11 and No. 12.

      (b)   The governing body of any publicwholesale water supply district created pursuantto K.S.A. 19-3545 et seq., and amendments thereto, to whichthis section applies may issue generalobligation bonds of thedistrict to finance the cost of acquisition, construction, reconstruction,alteration, repair, improvement, extension or enlargement of the district.All general obligation bonds of the district shall be authorized, issued,registered and sold in the manner provided by the general bond law and shallbear interest at a rate not to exceed the maximum rate prescribed by K.S.A.10-1009, and amendments thereto. The authorized and outstanding bondedindebtedness of the districtshall not exceed 20% of the assessed value of all taxable tangible propertylocated within the district, as certified to the county clerk on the precedingAugust 25.

      No bonds may be issued under this subsection until the question ofissuing such bonds has beensubmitted to and approved by a majority of the qualified electors of thedistrict voting at an election called thereon. Such electionshall be called and held in the manner provided by the general bond law.If a majority of the voters voting on the question vote in favor thereof,the bonds may be issued.

      (c)   The governing body of any public wholesale water supplydistrict to which this section applies may issue, from time to time, generalobligation bonds, inthe manner prescribed by K.S.A. 10-427 et seq., and amendmentsthereto, to refund any previous issue or part thereof of its outstandingrevenue bonds, including the principal amount thereof and all accruedoutstanding interest thereon, if such revenue bonds are callable inaccordance with their terms or the holders thereof are willing to surrenderthem to the district. Such general obligation bonds shall not be issueduntil a resolution adopted by the governing body of the district statingthe purpose for which such bonds are to be issued, the total amount of thebonds proposed to be issued, and the total cost to the district of therefunding project, is published once each week for two consecutiveweeks in the official newspaper of such district. After publication, suchbonds may be issued unless a petition requesting an election on theproposition, signed by electors equal in number to not less than 5% of theelectors of the district who voted for the office of secretary of state atthe last preceding general election of such office, is filed with the clerkof such district within 20 days following the last publication of suchresolution. If such a petition is filed, the governing body of the districtshall submit the proposition to the voters at an election called for suchpurpose and held within 90 days after the last publication of theresolution and no bonds shall be issued under this subsection unless suchproposition shallreceive the approval of a majority of the votes cast thereon. Such electionshall be called and held in the manner provided by the general bond law.

      (d)   The governing body of any public wholesale watersupply district to which this section appliesshall have the power to levy a tax against all taxable, tangible propertyin the district for the purpose of paying any bonds, and the interestthereon, issued pursuant to this section. Any bonds issued pursuant tothis section shall not be included in computing the total bondedindebtedness of any city or county located within such water supply district.

      History:   L. 1982, ch. 125, § 1;L. 1988, ch. 108, § 1;L. 1990, ch. 119, § 2; May 3.