Article 6a.--GENERAL IMPROVEMENT AND ASSESSMENT LAW
12-6a35.Same; special obligation bonds; issuance;
not subject to statutory bonded indebtedness limitations.
(a) Any municipality may issue special obligation
bonds in one or more series to finance 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 subsections (a), (b), (c) and (e) of K.S.A. 2009 Supp. 12-6a33,
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 (e) of K.S.A. 2009 Supp. 12-6a33 and amendments
thereto,
which revenues are subject to annual appropriation.
(b) Bonds issued pursuant to this section 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 subsections (a), (b), (c) and (e) of
K.S.A. 2009 Supp. 12-6a33, and amendments thereto, and such bonds shall so
state on
their face.
(c) Bonds issued pursuant to this section 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 section. All bonds issued pursuant to this
section 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 this section. Such bonds shall mature in no
more than 22 years.
(d) Any municipality issuing bonds under the provisions of this
section may refund all or part of such bonds pursuant to the provisions
of K.S.A. 10-116a, and amendments thereto.
(e) Bonds issued under the provisions of this section shall be in
addition to and not subject to any statutory limitation of bonded
indebtedness imposed on such municipality.
Article 6a.--GENERAL IMPROVEMENT AND ASSESSMENT LAW
12-6a35.Same; special obligation bonds; issuance;
not subject to statutory bonded indebtedness limitations.
(a) Any municipality may issue special obligation
bonds in one or more series to finance 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 subsections (a), (b), (c) and (e) of K.S.A. 2009 Supp. 12-6a33,
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 (e) of K.S.A. 2009 Supp. 12-6a33 and amendments
thereto,
which revenues are subject to annual appropriation.
(b) Bonds issued pursuant to this section 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 subsections (a), (b), (c) and (e) of
K.S.A. 2009 Supp. 12-6a33, and amendments thereto, and such bonds shall so
state on
their face.
(c) Bonds issued pursuant to this section 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 section. All bonds issued pursuant to this
section 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 this section. Such bonds shall mature in no
more than 22 years.
(d) Any municipality issuing bonds under the provisions of this
section may refund all or part of such bonds pursuant to the provisions
of K.S.A. 10-116a, and amendments thereto.
(e) Bonds issued under the provisions of this section shall be in
addition to and not subject to any statutory limitation of bonded
indebtedness imposed on such municipality.
Article 6a.--GENERAL IMPROVEMENT AND ASSESSMENT LAW
12-6a35.Same; special obligation bonds; issuance;
not subject to statutory bonded indebtedness limitations.
(a) Any municipality may issue special obligation
bonds in one or more series to finance 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 subsections (a), (b), (c) and (e) of K.S.A. 2009 Supp. 12-6a33,
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 (e) of K.S.A. 2009 Supp. 12-6a33 and amendments
thereto,
which revenues are subject to annual appropriation.
(b) Bonds issued pursuant to this section 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 subsections (a), (b), (c) and (e) of
K.S.A. 2009 Supp. 12-6a33, and amendments thereto, and such bonds shall so
state on
their face.
(c) Bonds issued pursuant to this section 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 section. All bonds issued pursuant to this
section 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 this section. Such bonds shall mature in no
more than 22 years.
(d) Any municipality issuing bonds under the provisions of this
section may refund all or part of such bonds pursuant to the provisions
of K.S.A. 10-116a, and amendments thereto.
(e) Bonds issued under the provisions of this section shall be in
addition to and not subject to any statutory limitation of bonded
indebtedness imposed on such municipality.