3-157.   Same; bonds constitute lien on revenues of facilities; recitalsin bonds; conclusive validity in favor of purchasers; negotiability; debtlimits inapplicable.Such revenue bonds are hereby made a lien on the revenue produced fromthe operation or rental of such special facility but shall not be generalobligations of the issuing municipality and shall not contain the recitalset forth in K.S.A. 10-112 or any amendment thereof, but shall containrecitals stating the authority under which such bonds are issued; that theyare issued in conformity with the provisions, restrictions and limitationsof that authority and that such bonds and the interest thereon are to bepaid by the issuing municipality from the revenues derived from theoperation or rentals of said special facility and not from any other fundor source; that the same have been registered in the office of the clerk ofthe issuing municipality and the auditor of the state of Kansasrespectively, and that said bonds are negotiable. All such revenue bondswhen registered and issued as herein provided shall import absolute verityand shall be conclusive in favor of all persons purchasing such bonds; thatall proceedings and conditions precedent have been held and performed toauthorize the issuance thereof and such bonds shall be negotiable and shallbe issued in addition to any statutory limits of bonded indebtedness of theissuing municipality.

      History:   L. 1974, ch. 6, § 5; July 1.