12-17,164.Establishment of STAR bond projects by
city or county; approval of secretary; limitations.
(a) The governing body of a city may establish one or more
STAR bond projects in any area within such
city or wholly outside the boundaries of such city. A STAR bond project wholly
outside the boundaries of such city must
be approved by the board of county commissioners by the passage of a county
resolution.
The governing body of a county may establish one or more STAR bond projects in
any unincorporated area of the county.
The projects shall be eligible for financing by special obligation bonds
payable from revenues described by subsection (a)(1) of
K.S.A. 2009 Supp.
12-17,169, and amendments thereto.
(b) Each STAR bond project shall first be approved by the secretary, if the
secretary determines that the proposed project or complex sufficiently
promotes, stimulates and develops the general and economic welfare of the state
as described in
K.S.A. 2009 Supp.
12-17,160, and amendments thereto.
The secretary, upon approving the project, may approve such financing in an
amount not to exceed 50% of the total costs including all project costs and any
other costs related to the
project. The proceeds of such STAR bond financing may only be used to pay for
incurred project costs.
(c) For a city proposing to finance a major motorsports complex pursuant to
subsection (a)(1)(C) or (a)(1)(E) of
K.S.A. 2009 Supp.
12-17,169, and
amendments thereto, the
secretary, upon approving the project, may approve such financing in an amount
not to exceed 50% of the STAR bond project costs.
(d) The secretary may approve a STAR bond project located in a STAR bond
project district established by a city prior to May 1, 2003.
(e) A project shall not be granted to any business that proposes to relocate
its business from another area of the state into such city or county, for the
purpose of consideration for a STAR bond project provided by
K.S.A. 2009 Supp.
12-17,160 et seq.,
and amendments thereto.
(f) A project shall not be approved by the secretary if the market study
required by
K.S.A. 2009 Supp.
12-17,166, and amendments thereto, indicates a
substantial negative
impact upon businesses in the project or complex market area or the granting of
such project or complex would cause a default in the payment of any outstanding
special obligation bond payable from revenues authorized pursuant to subsection
(a)(1) of
K.S.A. 2009 Supp.
12-17,169, and amendments thereto.
(g) The maximum maturity of special obligation bonds payable primarily from
revenues described by subsection (a)(1) of
K.S.A. 2009 Supp.
12-17,169, and
amendments thereto,
to finance STAR bond projects pursuant to
this section shall not exceed 20 years.
(h) The secretary shall not approve any
application for STAR
bond project financing
which is submitted by a city or county more than one year after the STAR bond
project district in which the STAR bond project is located has been
established.
12-17,164.Establishment of STAR bond projects by
city or county; approval of secretary; limitations.
(a) The governing body of a city may establish one or more
STAR bond projects in any area within such
city or wholly outside the boundaries of such city. A STAR bond project wholly
outside the boundaries of such city must
be approved by the board of county commissioners by the passage of a county
resolution.
The governing body of a county may establish one or more STAR bond projects in
any unincorporated area of the county.
The projects shall be eligible for financing by special obligation bonds
payable from revenues described by subsection (a)(1) of
K.S.A. 2009 Supp.
12-17,169, and amendments thereto.
(b) Each STAR bond project shall first be approved by the secretary, if the
secretary determines that the proposed project or complex sufficiently
promotes, stimulates and develops the general and economic welfare of the state
as described in
K.S.A. 2009 Supp.
12-17,160, and amendments thereto.
The secretary, upon approving the project, may approve such financing in an
amount not to exceed 50% of the total costs including all project costs and any
other costs related to the
project. The proceeds of such STAR bond financing may only be used to pay for
incurred project costs.
(c) For a city proposing to finance a major motorsports complex pursuant to
subsection (a)(1)(C) or (a)(1)(E) of
K.S.A. 2009 Supp.
12-17,169, and
amendments thereto, the
secretary, upon approving the project, may approve such financing in an amount
not to exceed 50% of the STAR bond project costs.
(d) The secretary may approve a STAR bond project located in a STAR bond
project district established by a city prior to May 1, 2003.
(e) A project shall not be granted to any business that proposes to relocate
its business from another area of the state into such city or county, for the
purpose of consideration for a STAR bond project provided by
K.S.A. 2009 Supp.
12-17,160 et seq.,
and amendments thereto.
(f) A project shall not be approved by the secretary if the market study
required by
K.S.A. 2009 Supp.
12-17,166, and amendments thereto, indicates a
substantial negative
impact upon businesses in the project or complex market area or the granting of
such project or complex would cause a default in the payment of any outstanding
special obligation bond payable from revenues authorized pursuant to subsection
(a)(1) of
K.S.A. 2009 Supp.
12-17,169, and amendments thereto.
(g) The maximum maturity of special obligation bonds payable primarily from
revenues described by subsection (a)(1) of
K.S.A. 2009 Supp.
12-17,169, and
amendments thereto,
to finance STAR bond projects pursuant to
this section shall not exceed 20 years.
(h) The secretary shall not approve any
application for STAR
bond project financing
which is submitted by a city or county more than one year after the STAR bond
project district in which the STAR bond project is located has been
established.
12-17,164.Establishment of STAR bond projects by
city or county; approval of secretary; limitations.
(a) The governing body of a city may establish one or more
STAR bond projects in any area within such
city or wholly outside the boundaries of such city. A STAR bond project wholly
outside the boundaries of such city must
be approved by the board of county commissioners by the passage of a county
resolution.
The governing body of a county may establish one or more STAR bond projects in
any unincorporated area of the county.
The projects shall be eligible for financing by special obligation bonds
payable from revenues described by subsection (a)(1) of
K.S.A. 2009 Supp.
12-17,169, and amendments thereto.
(b) Each STAR bond project shall first be approved by the secretary, if the
secretary determines that the proposed project or complex sufficiently
promotes, stimulates and develops the general and economic welfare of the state
as described in
K.S.A. 2009 Supp.
12-17,160, and amendments thereto.
The secretary, upon approving the project, may approve such financing in an
amount not to exceed 50% of the total costs including all project costs and any
other costs related to the
project. The proceeds of such STAR bond financing may only be used to pay for
incurred project costs.
(c) For a city proposing to finance a major motorsports complex pursuant to
subsection (a)(1)(C) or (a)(1)(E) of
K.S.A. 2009 Supp.
12-17,169, and
amendments thereto, the
secretary, upon approving the project, may approve such financing in an amount
not to exceed 50% of the STAR bond project costs.
(d) The secretary may approve a STAR bond project located in a STAR bond
project district established by a city prior to May 1, 2003.
(e) A project shall not be granted to any business that proposes to relocate
its business from another area of the state into such city or county, for the
purpose of consideration for a STAR bond project provided by
K.S.A. 2009 Supp.
12-17,160 et seq.,
and amendments thereto.
(f) A project shall not be approved by the secretary if the market study
required by
K.S.A. 2009 Supp.
12-17,166, and amendments thereto, indicates a
substantial negative
impact upon businesses in the project or complex market area or the granting of
such project or complex would cause a default in the payment of any outstanding
special obligation bond payable from revenues authorized pursuant to subsection
(a)(1) of
K.S.A. 2009 Supp.
12-17,169, and amendments thereto.
(g) The maximum maturity of special obligation bonds payable primarily from
revenues described by subsection (a)(1) of
K.S.A. 2009 Supp.
12-17,169, and
amendments thereto,
to finance STAR bond projects pursuant to
this section shall not exceed 20 years.
(h) The secretary shall not approve any
application for STAR
bond project financing
which is submitted by a city or county more than one year after the STAR bond
project district in which the STAR bond project is located has been
established.