3-148. Same; liens; negotiable.
3-148
3-148. Same; liens; negotiable.
Such revenue bonds are hereby made a lien on the revenue produced from
such airport, but shall not be general obligations of the issuing
municipality and not contain the recital set forth in K.S.A. 10-112 or any
amendment thereof, but shall contain recitals stating the authority under
which such bonds are issued; that they are issued in conformity with the
provisions, restrictions and limitations of that authority and that such
bonds and the interest hereon are to be paid by the issuing municipality
from the revenues derived from the rates, fees or charges herein mentioned
and not from any other fund or source; that the same have been registered
in the office of the clerk of the issuing municipality and the auditor of
the state of Kansas respectively and that said bonds are negotiable. All
such bonds when registered and issued as herein provided shall import
absolute verity and shall be conclusive in favor of all persons purchasing
such bonds; that all proceedings and conditions precedent have been held
and performed to authorize the issuance thereof and such bonds shall be
negotiable and shall be issued in addition to the statutory limits of
bonded indebtedness of the issuing municipality.
History: L. 1951, ch. 174, § 4; June 30.