12-5221.Definitions.
Whenever used in this act, the following words and terms shall have the
following respective meanings unless different meanings clearly appear from the
context:
(a) "Bonds" means any revenue bonds or notes authorized under this act
and payable as provided hereunder.
(b) "City" means any city organized and existing under the laws of the
state of Kansas.
(c) "Condominium" means any condominium as defined in K.S.A. 58-3102.
(d) "County" means any county in the state of Kansas.
(e) "Solar energy system" means any solar energy system as defined in
subsection (a) of K.S.A. 79-32,169, and amendments thereto.
(f) "Governing body" means the city council or city commission of
a city or the board of county commissioners of a county.
(g) "Home" (1) means (A) a one- to four-family residence;
(B) a condominium;
(C) a manufactured home, as defined by K.S.A. 58-4202, and
amendments thereto; or
(D) a mobile home, as defined by
K.S.A. 58-4202, and amendments
thereto, having
a permanent foundation which may not be removed intact from the land; and
(2) consists of the land and improvements thereon, located within a city
or county and which is either owned and occupied or is owned and is to be
occupied by the mortgagor, and in the case of a two- to four-family residence,
one unit of the residence shall be either owned and occupied or is owned
and is to be occupied by the mortgagor.
(h) "Home mortgage loan" means an interest-bearing loan to a mortgagor
evidenced by a promissory note and secured by a mortgage, purchased or
originated
in accordance with this act (1) made for the purpose of acquiring a home;
or (2) made for the purpose of acquiring and rehabilitating a home;
or (3) made for the purpose of paying the costs of rehabilitating or improving
a home. No city or county shall fix or establish any minimum home value
for the purpose of limiting loan eligibility for
a home mortgage loan under the provisions of this act.
(i) "Lender" means any lending institution participating in a residential
housing finance plan as the originator of home mortgage loans or as
a servicing agent for home mortgage loans.
(j) "Lending institution" means any bank, bank holding company, credit
union, trust company, savings bank, national banking association, savings
and loan association, building and loan association, mortgage banker or
other financial institution which customarily provides service or otherwise
aids in the financing of home mortgages, or any holding company for any
of the foregoing.
(k) "Mortgagor" means any person of low and moderate income who has received
or qualifies to receive a home mortgage loan on a home.
(l) "Ordinance" means an ordinance adopted and approved by the governing
body of a city or a resolution adopted and approved by the board of county
commissioners of a county.
(m) "Person" means a natural person or a trust for the benefit of a natural person.
(n) "Persons of low and moderate income" means a person or family, consisting
of one or more persons all of whom occupy or will occupy the home, whose
aggregate gross income including the gross income of any cosigner or guarantor
of the promissory note made in connection with the making of a home mortgage
loan shall not exceed a maximum amount to be established by the city or
county subject to the limitations provided herein,
and determined in accordance with appropriate criteria, rules and regulations,
approved by the governing body of a city or county in connection
with the implementation of a residential housing finance plan.
(o) "Residential housing finance plan" means a program implemented under
this act by a city or county to assist persons of low and moderate income
in acquiring safe, decent and sanitary housing which they can afford. Such
plan shall include provisions allowing each lending institution with an
office located within the limits of the issuing city or county, or any city
or county signatory to a cooperative
agreement, pursuant to K.S.A. 12-5231, and amendments thereto, an equal
opportunity to participate in accordance with standards and requirements
established by such city or county.
History: L. 1982, ch. 60, § 3; L. 1983, ch. 71, § 2;
L. 1991, ch. 33, § 27; July 1.
12-5221.Definitions.
Whenever used in this act, the following words and terms shall have the
following respective meanings unless different meanings clearly appear from the
context:
(a) "Bonds" means any revenue bonds or notes authorized under this act
and payable as provided hereunder.
(b) "City" means any city organized and existing under the laws of the
state of Kansas.
(c) "Condominium" means any condominium as defined in K.S.A. 58-3102.
(d) "County" means any county in the state of Kansas.
(e) "Solar energy system" means any solar energy system as defined in
subsection (a) of K.S.A. 79-32,169, and amendments thereto.
(f) "Governing body" means the city council or city commission of
a city or the board of county commissioners of a county.
(g) "Home" (1) means (A) a one- to four-family residence;
(B) a condominium;
(C) a manufactured home, as defined by K.S.A. 58-4202, and
amendments thereto; or
(D) a mobile home, as defined by
K.S.A. 58-4202, and amendments
thereto, having
a permanent foundation which may not be removed intact from the land; and
(2) consists of the land and improvements thereon, located within a city
or county and which is either owned and occupied or is owned and is to be
occupied by the mortgagor, and in the case of a two- to four-family residence,
one unit of the residence shall be either owned and occupied or is owned
and is to be occupied by the mortgagor.
(h) "Home mortgage loan" means an interest-bearing loan to a mortgagor
evidenced by a promissory note and secured by a mortgage, purchased or
originated
in accordance with this act (1) made for the purpose of acquiring a home;
or (2) made for the purpose of acquiring and rehabilitating a home;
or (3) made for the purpose of paying the costs of rehabilitating or improving
a home. No city or county shall fix or establish any minimum home value
for the purpose of limiting loan eligibility for
a home mortgage loan under the provisions of this act.
(i) "Lender" means any lending institution participating in a residential
housing finance plan as the originator of home mortgage loans or as
a servicing agent for home mortgage loans.
(j) "Lending institution" means any bank, bank holding company, credit
union, trust company, savings bank, national banking association, savings
and loan association, building and loan association, mortgage banker or
other financial institution which customarily provides service or otherwise
aids in the financing of home mortgages, or any holding company for any
of the foregoing.
(k) "Mortgagor" means any person of low and moderate income who has received
or qualifies to receive a home mortgage loan on a home.
(l) "Ordinance" means an ordinance adopted and approved by the governing
body of a city or a resolution adopted and approved by the board of county
commissioners of a county.
(m) "Person" means a natural person or a trust for the benefit of a natural person.
(n) "Persons of low and moderate income" means a person or family, consisting
of one or more persons all of whom occupy or will occupy the home, whose
aggregate gross income including the gross income of any cosigner or guarantor
of the promissory note made in connection with the making of a home mortgage
loan shall not exceed a maximum amount to be established by the city or
county subject to the limitations provided herein,
and determined in accordance with appropriate criteria, rules and regulations,
approved by the governing body of a city or county in connection
with the implementation of a residential housing finance plan.
(o) "Residential housing finance plan" means a program implemented under
this act by a city or county to assist persons of low and moderate income
in acquiring safe, decent and sanitary housing which they can afford. Such
plan shall include provisions allowing each lending institution with an
office located within the limits of the issuing city or county, or any city
or county signatory to a cooperative
agreement, pursuant to K.S.A. 12-5231, and amendments thereto, an equal
opportunity to participate in accordance with standards and requirements
established by such city or county.
History: L. 1982, ch. 60, § 3; L. 1983, ch. 71, § 2;
L. 1991, ch. 33, § 27; July 1.
12-5221.Definitions.
Whenever used in this act, the following words and terms shall have the
following respective meanings unless different meanings clearly appear from the
context:
(a) "Bonds" means any revenue bonds or notes authorized under this act
and payable as provided hereunder.
(b) "City" means any city organized and existing under the laws of the
state of Kansas.
(c) "Condominium" means any condominium as defined in K.S.A. 58-3102.
(d) "County" means any county in the state of Kansas.
(e) "Solar energy system" means any solar energy system as defined in
subsection (a) of K.S.A. 79-32,169, and amendments thereto.
(f) "Governing body" means the city council or city commission of
a city or the board of county commissioners of a county.
(g) "Home" (1) means (A) a one- to four-family residence;
(B) a condominium;
(C) a manufactured home, as defined by K.S.A. 58-4202, and
amendments thereto; or
(D) a mobile home, as defined by
K.S.A. 58-4202, and amendments
thereto, having
a permanent foundation which may not be removed intact from the land; and
(2) consists of the land and improvements thereon, located within a city
or county and which is either owned and occupied or is owned and is to be
occupied by the mortgagor, and in the case of a two- to four-family residence,
one unit of the residence shall be either owned and occupied or is owned
and is to be occupied by the mortgagor.
(h) "Home mortgage loan" means an interest-bearing loan to a mortgagor
evidenced by a promissory note and secured by a mortgage, purchased or
originated
in accordance with this act (1) made for the purpose of acquiring a home;
or (2) made for the purpose of acquiring and rehabilitating a home;
or (3) made for the purpose of paying the costs of rehabilitating or improving
a home. No city or county shall fix or establish any minimum home value
for the purpose of limiting loan eligibility for
a home mortgage loan under the provisions of this act.
(i) "Lender" means any lending institution participating in a residential
housing finance plan as the originator of home mortgage loans or as
a servicing agent for home mortgage loans.
(j) "Lending institution" means any bank, bank holding company, credit
union, trust company, savings bank, national banking association, savings
and loan association, building and loan association, mortgage banker or
other financial institution which customarily provides service or otherwise
aids in the financing of home mortgages, or any holding company for any
of the foregoing.
(k) "Mortgagor" means any person of low and moderate income who has received
or qualifies to receive a home mortgage loan on a home.
(l) "Ordinance" means an ordinance adopted and approved by the governing
body of a city or a resolution adopted and approved by the board of county
commissioners of a county.
(m) "Person" means a natural person or a trust for the benefit of a natural person.
(n) "Persons of low and moderate income" means a person or family, consisting
of one or more persons all of whom occupy or will occupy the home, whose
aggregate gross income including the gross income of any cosigner or guarantor
of the promissory note made in connection with the making of a home mortgage
loan shall not exceed a maximum amount to be established by the city or
county subject to the limitations provided herein,
and determined in accordance with appropriate criteria, rules and regulations,
approved by the governing body of a city or county in connection
with the implementation of a residential housing finance plan.
(o) "Residential housing finance plan" means a program implemented under
this act by a city or county to assist persons of low and moderate income
in acquiring safe, decent and sanitary housing which they can afford. Such
plan shall include provisions allowing each lending institution with an
office located within the limits of the issuing city or county, or any city
or county signatory to a cooperative
agreement, pursuant to K.S.A. 12-5231, and amendments thereto, an equal
opportunity to participate in accordance with standards and requirements
established by such city or county.
History: L. 1982, ch. 60, § 3; L. 1983, ch. 71, § 2;
L. 1991, ch. 33, § 27; July 1.