12-17,149.Same; bonds.
(a) Any municipality may issue bonds in one or more series
to finance the undertaking of any project in accordance with the provisions of
this act. Such bonds shall be made payable, both as to principal and interest
solely from a pledge of the sources of funds described in
K.S.A. 2009 Supp.
12-17,147, and
amendments thereto. The municipality may pledge such revenue to the repayment
of such bonds prior to, simultaneously with or subsequent to the issuance of
such bonds, except for any revenues received under the provisions of subsection
(d) of
K.S.A. 2009 Supp.
12-17,147 and amendments thereto, which revenues are
subject to annual
appropriation.
(b) Bonds issued pursuant to subsection (a) shall not be general obligations
of the municipality, give rise to a charge against its general credit or taxing
powers, or be payable out of any funds or properties other than any of those
set forth in subsection (a) and such bonds shall so state on their face.
(c) Bonds issued pursuant to subsection (a) shall be special obligations of
the municipality and are declared to be negotiable instruments. Such bonds
shall be executed by the authorized representatives of the municipality and
sealed with the corporate seal of the municipality. All details pertaining to
the issuance of the bonds and terms and conditions thereof shall be determined
by ordinance or resolution of the municipality. The provisions of K.S.A.
10-106, and amendments thereto, requiring a public sale of bonds shall not
apply to bonds issued under this act. All bonds issued pursuant to this act and
all income or interest therefrom shall be exempt from all state taxes except
inheritance taxes. Such bonds shall contain none of the recitals set forth in
K.S.A. 10-112, and amendments thereto. Such bonds shall contain the following
recitals: The authority under which such bonds are issued; that such bonds are
in conformity with the provisions, restrictions and limitations thereof; and
that such bonds and the interest thereon are to be paid from the money and
revenue received as provided in subsection (a) such bonds shall mature in no
more than 22 years.
(d) Any municipality issuing bonds under the provisions of this act may
refund all or part of such issue pursuant to the provisions of K.S.A. 10-116a,
and amendments thereto.
(e) Bonds issued under the provisions of this act shall be in addition to and
not subject to any statutory limitation of bonded indebtedness imposed on such
municipality.
12-17,149.Same; bonds.
(a) Any municipality may issue bonds in one or more series
to finance the undertaking of any project in accordance with the provisions of
this act. Such bonds shall be made payable, both as to principal and interest
solely from a pledge of the sources of funds described in
K.S.A. 2009 Supp.
12-17,147, and
amendments thereto. The municipality may pledge such revenue to the repayment
of such bonds prior to, simultaneously with or subsequent to the issuance of
such bonds, except for any revenues received under the provisions of subsection
(d) of
K.S.A. 2009 Supp.
12-17,147 and amendments thereto, which revenues are
subject to annual
appropriation.
(b) Bonds issued pursuant to subsection (a) shall not be general obligations
of the municipality, give rise to a charge against its general credit or taxing
powers, or be payable out of any funds or properties other than any of those
set forth in subsection (a) and such bonds shall so state on their face.
(c) Bonds issued pursuant to subsection (a) shall be special obligations of
the municipality and are declared to be negotiable instruments. Such bonds
shall be executed by the authorized representatives of the municipality and
sealed with the corporate seal of the municipality. All details pertaining to
the issuance of the bonds and terms and conditions thereof shall be determined
by ordinance or resolution of the municipality. The provisions of K.S.A.
10-106, and amendments thereto, requiring a public sale of bonds shall not
apply to bonds issued under this act. All bonds issued pursuant to this act and
all income or interest therefrom shall be exempt from all state taxes except
inheritance taxes. Such bonds shall contain none of the recitals set forth in
K.S.A. 10-112, and amendments thereto. Such bonds shall contain the following
recitals: The authority under which such bonds are issued; that such bonds are
in conformity with the provisions, restrictions and limitations thereof; and
that such bonds and the interest thereon are to be paid from the money and
revenue received as provided in subsection (a) such bonds shall mature in no
more than 22 years.
(d) Any municipality issuing bonds under the provisions of this act may
refund all or part of such issue pursuant to the provisions of K.S.A. 10-116a,
and amendments thereto.
(e) Bonds issued under the provisions of this act shall be in addition to and
not subject to any statutory limitation of bonded indebtedness imposed on such
municipality.
12-17,149.Same; bonds.
(a) Any municipality may issue bonds in one or more series
to finance the undertaking of any project in accordance with the provisions of
this act. Such bonds shall be made payable, both as to principal and interest
solely from a pledge of the sources of funds described in
K.S.A. 2009 Supp.
12-17,147, and
amendments thereto. The municipality may pledge such revenue to the repayment
of such bonds prior to, simultaneously with or subsequent to the issuance of
such bonds, except for any revenues received under the provisions of subsection
(d) of
K.S.A. 2009 Supp.
12-17,147 and amendments thereto, which revenues are
subject to annual
appropriation.
(b) Bonds issued pursuant to subsection (a) shall not be general obligations
of the municipality, give rise to a charge against its general credit or taxing
powers, or be payable out of any funds or properties other than any of those
set forth in subsection (a) and such bonds shall so state on their face.
(c) Bonds issued pursuant to subsection (a) shall be special obligations of
the municipality and are declared to be negotiable instruments. Such bonds
shall be executed by the authorized representatives of the municipality and
sealed with the corporate seal of the municipality. All details pertaining to
the issuance of the bonds and terms and conditions thereof shall be determined
by ordinance or resolution of the municipality. The provisions of K.S.A.
10-106, and amendments thereto, requiring a public sale of bonds shall not
apply to bonds issued under this act. All bonds issued pursuant to this act and
all income or interest therefrom shall be exempt from all state taxes except
inheritance taxes. Such bonds shall contain none of the recitals set forth in
K.S.A. 10-112, and amendments thereto. Such bonds shall contain the following
recitals: The authority under which such bonds are issued; that such bonds are
in conformity with the provisions, restrictions and limitations thereof; and
that such bonds and the interest thereon are to be paid from the money and
revenue received as provided in subsection (a) such bonds shall mature in no
more than 22 years.
(d) Any municipality issuing bonds under the provisions of this act may
refund all or part of such issue pursuant to the provisions of K.S.A. 10-116a,
and amendments thereto.
(e) Bonds issued under the provisions of this act shall be in addition to and
not subject to any statutory limitation of bonded indebtedness imposed on such
municipality.