12-17,103.Same; bonds; source of revenue to pay bonds; petition and
election, when; effect of dissolution.
(a) The governing body of the city, acting on and in behalf of the
district, may issue municipal improvement district bonds for the cost of
improvements as defined by subsection (c) of
K.S.A. 12-1795, and amendments thereto. The principal of and interest on the
bonds
shall be payable: (1) From a levy of ad valorem taxes on all of the
taxable tangible property within the district; (2) in cases of revenue
producing improvements, from a pledge of the income and receipts derived
therefrom; (3) in cities which receive revenue from a local option sales tax
pursuant
to K.S.A. 12-187 et seq., and amendments thereto, from a pledge of
a portion or all of the receipts derived from the tax; or (4) from any
combination of these methods. The bonds
shall be issued in accordance with the general bond law but shall not be
general obligations of the city. The bonds shall bear interest at a rate not to
exceed the maximum rate of interest prescribed by K.S.A. 10-1009, and
amendments thereto. In the event the district is dissolved as an operating
agency, the property in the district shall remain liable for any taxes levied
to pay any principal and interest on any bonds authorized, issued and still
outstanding. No bonds shall be issued until a public hearing is held thereon in
the manner provided by K.S.A. 12-17,101a, and
amendments thereto.
(b) In the event the governing body of a city proposes to issue such
bonds, the principal and interest for which are payable in whole or in part
from a pledge of local option sales tax revenues, and the question of pledging
the revenues received from the sales tax has not previously been submitted to
and approved by the voters of the city, such proposition shall be published
once each week for two consecutive weeks in the official city newspaper. If,
within 30 days after the last publication of the proposition, a petition is
filed with the county election officer signed by not less than 10% of the
electors of the city who voted in the last preceding general election of the
city requesting an election thereon, no such bonds shall be issued unless the
proposition is submitted to and approved by a majority of the voters of the
city voting at an election held thereon. Any such election shall be called and
held in accordance with the provisions of K.S.A. 10-120, and amendments
thereto, or in accordance with the provisions of the mail ballot election
act.
History: L. 1981, ch. 63, § 10; L. 1983, ch. 49, § 50;
L. 1988, ch. 79, § 5;
L. 1991, ch. 55, § 1; May 16.
12-17,103.Same; bonds; source of revenue to pay bonds; petition and
election, when; effect of dissolution.
(a) The governing body of the city, acting on and in behalf of the
district, may issue municipal improvement district bonds for the cost of
improvements as defined by subsection (c) of
K.S.A. 12-1795, and amendments thereto. The principal of and interest on the
bonds
shall be payable: (1) From a levy of ad valorem taxes on all of the
taxable tangible property within the district; (2) in cases of revenue
producing improvements, from a pledge of the income and receipts derived
therefrom; (3) in cities which receive revenue from a local option sales tax
pursuant
to K.S.A. 12-187 et seq., and amendments thereto, from a pledge of
a portion or all of the receipts derived from the tax; or (4) from any
combination of these methods. The bonds
shall be issued in accordance with the general bond law but shall not be
general obligations of the city. The bonds shall bear interest at a rate not to
exceed the maximum rate of interest prescribed by K.S.A. 10-1009, and
amendments thereto. In the event the district is dissolved as an operating
agency, the property in the district shall remain liable for any taxes levied
to pay any principal and interest on any bonds authorized, issued and still
outstanding. No bonds shall be issued until a public hearing is held thereon in
the manner provided by K.S.A. 12-17,101a, and
amendments thereto.
(b) In the event the governing body of a city proposes to issue such
bonds, the principal and interest for which are payable in whole or in part
from a pledge of local option sales tax revenues, and the question of pledging
the revenues received from the sales tax has not previously been submitted to
and approved by the voters of the city, such proposition shall be published
once each week for two consecutive weeks in the official city newspaper. If,
within 30 days after the last publication of the proposition, a petition is
filed with the county election officer signed by not less than 10% of the
electors of the city who voted in the last preceding general election of the
city requesting an election thereon, no such bonds shall be issued unless the
proposition is submitted to and approved by a majority of the voters of the
city voting at an election held thereon. Any such election shall be called and
held in accordance with the provisions of K.S.A. 10-120, and amendments
thereto, or in accordance with the provisions of the mail ballot election
act.
History: L. 1981, ch. 63, § 10; L. 1983, ch. 49, § 50;
L. 1988, ch. 79, § 5;
L. 1991, ch. 55, § 1; May 16.
12-17,103.Same; bonds; source of revenue to pay bonds; petition and
election, when; effect of dissolution.
(a) The governing body of the city, acting on and in behalf of the
district, may issue municipal improvement district bonds for the cost of
improvements as defined by subsection (c) of
K.S.A. 12-1795, and amendments thereto. The principal of and interest on the
bonds
shall be payable: (1) From a levy of ad valorem taxes on all of the
taxable tangible property within the district; (2) in cases of revenue
producing improvements, from a pledge of the income and receipts derived
therefrom; (3) in cities which receive revenue from a local option sales tax
pursuant
to K.S.A. 12-187 et seq., and amendments thereto, from a pledge of
a portion or all of the receipts derived from the tax; or (4) from any
combination of these methods. The bonds
shall be issued in accordance with the general bond law but shall not be
general obligations of the city. The bonds shall bear interest at a rate not to
exceed the maximum rate of interest prescribed by K.S.A. 10-1009, and
amendments thereto. In the event the district is dissolved as an operating
agency, the property in the district shall remain liable for any taxes levied
to pay any principal and interest on any bonds authorized, issued and still
outstanding. No bonds shall be issued until a public hearing is held thereon in
the manner provided by K.S.A. 12-17,101a, and
amendments thereto.
(b) In the event the governing body of a city proposes to issue such
bonds, the principal and interest for which are payable in whole or in part
from a pledge of local option sales tax revenues, and the question of pledging
the revenues received from the sales tax has not previously been submitted to
and approved by the voters of the city, such proposition shall be published
once each week for two consecutive weeks in the official city newspaper. If,
within 30 days after the last publication of the proposition, a petition is
filed with the county election officer signed by not less than 10% of the
electors of the city who voted in the last preceding general election of the
city requesting an election thereon, no such bonds shall be issued unless the
proposition is submitted to and approved by a majority of the voters of the
city voting at an election held thereon. Any such election shall be called and
held in accordance with the provisions of K.S.A. 10-120, and amendments
thereto, or in accordance with the provisions of the mail ballot election
act.
History: L. 1981, ch. 63, § 10; L. 1983, ch. 49, § 50;
L. 1988, ch. 79, § 5;
L. 1991, ch. 55, § 1; May 16.