12-899.Revenue bonds; issuance; terms and conditions; form; interim
receipts, temporary bonds; security; payment; issuance of additional bonds.
(a) A municipal energy agency, without an election, may from time to time
issue and sell its revenue bonds or notes in such principal amounts as the
municipal energy agency shall deem necessary to provide sufficient funds
for the acquisition or construction of any project to be owned
or leased, as lessor or lessee, by the municipal energy agency, or the acquisition
of any interest therein or any right to capacity thereof, the funding or
refunding of the principal of, or interest or redemption premiums on, any
bonds or notes issued by such agency whether or not such bonds or notes or interest
to be funded or refunded have or have not become due, the establishment
or increase of reserves to secure or to pay such bonds or notes or interest
thereon, and the payment of all other costs or expenses of the municipal
energy agency incident to and necessary for the issuance of such bonds or notes.
(b) Revenue bonds may be issued hereunder from time to time and shall
be authorized by resolution, and secured by a trust indenture or other security
agreement approved by the board of directors, unless otherwise provided
in the agreement creating the agency or the bylaws of the agency. Such
bonds may be term or serial bonds maturing not later than forty (40) years
after date of issuance, may be subject to redemption prior to maturity with
or without premium, at such times and upon such conditions as may be provided
by the resolution, shall bear a rate of interest not to exceed the maximum
rate of interest prescribed by K.S.A. 10-1009 and amendments thereto and
shall be in such form and payable as determined by the board of directors.
The board may sell such bonds in such manner and for such price as it shall
determine best. Such bonds may be payable at any bank having trust powers
or at any trust company, within or without the state, and may be secured
by a trust agreement or other appropriate documents which provide for the
deposit and disbursement of funds through any such bank or trust company.
(c) Revenue bonds issued hereunder may be issued in coupon or registered
form, or both, as prescribed by the resolution, trust indenture or other
security agreement, and provisions may be made for the registration of coupon
bonds as to principal only or as to both principal and interest and for
the reconversion of registered bonds into coupon bonds. Such bonds may
be issued in any denomination or denominations. Such bonds and the coupons
attached to coupon bonds shall be signed either manually or by facsimile
signature, as shall be determined by the agency,
and sealed with the seal of the agency or a facsimile thereof. In case
of any officer whose signature or facsimile thereof appears on any bonds
or coupons shall cease to be such officer before the delivery of such bonds,
such signature or such facsimile signature shall nevertheless be valid and
sufficient for all purposes as if such officer had remained in office until
the delivery thereof. The agency may provide for the replacement of any
mutilated, lost or destroyed bonds.
(d) Prior to the preparation of definitive bonds, the agency, under like
restrictions, may issue interim receipts or temporary bonds, with or without
coupons, exchangeable for definitive bonds when such bonds shall
have been executed and are available for delivery.
(e) The resolution, trust indenture or other security agreement may pledge
or assign, in whole or in part, the revenues and other moneys derived or
to be derived by the agency from its system and any contract or other rights
to receive the same, whether then existing or thereafter coming into existence,
and whether then held or thereafter acquired by the agency, and the proceeds
thereof, and may mortgage, pledge and grant a security interest in any or
all of its real and personal property to secure the payment of the bonds.
(f) The board by appropriate resolution, trust indenture or other security
agreement shall make provisions for the payment of said bonds by fixing
rates, fees and charges for electric power and other energy and all other
services, sufficient to pay the costs of operation, improvement and maintenance
of the electric power and other energy facilities, to provide adequate depreciation
funds, to provide an adequate
sinking fund to retire said bonds, to pay the interest and principal thereon
when due and to create reasonable reserves. The resolution, trust indenture
or other security agreement may establish limitations upon the issuance
of additional revenue bonds and may provide that additional
revenue bonds shall stand on a parity or otherwise as to the revenues of
the agency and in all other respects with revenue bonds previously issued
on such conditions as may be specified in such resolutions, trust indentures
or other security agreements. Such resolution, trust indenture or other
security agreement may include other agreements, covenants or restrictions
deemed necessary or advisable by the board of directors to effect the efficient
operation of the system, to safeguard the interest
of the holders of the revenue bonds and to secure the payment of such bonds
and the interest thereon.
12-899.Revenue bonds; issuance; terms and conditions; form; interim
receipts, temporary bonds; security; payment; issuance of additional bonds.
(a) A municipal energy agency, without an election, may from time to time
issue and sell its revenue bonds or notes in such principal amounts as the
municipal energy agency shall deem necessary to provide sufficient funds
for the acquisition or construction of any project to be owned
or leased, as lessor or lessee, by the municipal energy agency, or the acquisition
of any interest therein or any right to capacity thereof, the funding or
refunding of the principal of, or interest or redemption premiums on, any
bonds or notes issued by such agency whether or not such bonds or notes or interest
to be funded or refunded have or have not become due, the establishment
or increase of reserves to secure or to pay such bonds or notes or interest
thereon, and the payment of all other costs or expenses of the municipal
energy agency incident to and necessary for the issuance of such bonds or notes.
(b) Revenue bonds may be issued hereunder from time to time and shall
be authorized by resolution, and secured by a trust indenture or other security
agreement approved by the board of directors, unless otherwise provided
in the agreement creating the agency or the bylaws of the agency. Such
bonds may be term or serial bonds maturing not later than forty (40) years
after date of issuance, may be subject to redemption prior to maturity with
or without premium, at such times and upon such conditions as may be provided
by the resolution, shall bear a rate of interest not to exceed the maximum
rate of interest prescribed by K.S.A. 10-1009 and amendments thereto and
shall be in such form and payable as determined by the board of directors.
The board may sell such bonds in such manner and for such price as it shall
determine best. Such bonds may be payable at any bank having trust powers
or at any trust company, within or without the state, and may be secured
by a trust agreement or other appropriate documents which provide for the
deposit and disbursement of funds through any such bank or trust company.
(c) Revenue bonds issued hereunder may be issued in coupon or registered
form, or both, as prescribed by the resolution, trust indenture or other
security agreement, and provisions may be made for the registration of coupon
bonds as to principal only or as to both principal and interest and for
the reconversion of registered bonds into coupon bonds. Such bonds may
be issued in any denomination or denominations. Such bonds and the coupons
attached to coupon bonds shall be signed either manually or by facsimile
signature, as shall be determined by the agency,
and sealed with the seal of the agency or a facsimile thereof. In case
of any officer whose signature or facsimile thereof appears on any bonds
or coupons shall cease to be such officer before the delivery of such bonds,
such signature or such facsimile signature shall nevertheless be valid and
sufficient for all purposes as if such officer had remained in office until
the delivery thereof. The agency may provide for the replacement of any
mutilated, lost or destroyed bonds.
(d) Prior to the preparation of definitive bonds, the agency, under like
restrictions, may issue interim receipts or temporary bonds, with or without
coupons, exchangeable for definitive bonds when such bonds shall
have been executed and are available for delivery.
(e) The resolution, trust indenture or other security agreement may pledge
or assign, in whole or in part, the revenues and other moneys derived or
to be derived by the agency from its system and any contract or other rights
to receive the same, whether then existing or thereafter coming into existence,
and whether then held or thereafter acquired by the agency, and the proceeds
thereof, and may mortgage, pledge and grant a security interest in any or
all of its real and personal property to secure the payment of the bonds.
(f) The board by appropriate resolution, trust indenture or other security
agreement shall make provisions for the payment of said bonds by fixing
rates, fees and charges for electric power and other energy and all other
services, sufficient to pay the costs of operation, improvement and maintenance
of the electric power and other energy facilities, to provide adequate depreciation
funds, to provide an adequate
sinking fund to retire said bonds, to pay the interest and principal thereon
when due and to create reasonable reserves. The resolution, trust indenture
or other security agreement may establish limitations upon the issuance
of additional revenue bonds and may provide that additional
revenue bonds shall stand on a parity or otherwise as to the revenues of
the agency and in all other respects with revenue bonds previously issued
on such conditions as may be specified in such resolutions, trust indentures
or other security agreements. Such resolution, trust indenture or other
security agreement may include other agreements, covenants or restrictions
deemed necessary or advisable by the board of directors to effect the efficient
operation of the system, to safeguard the interest
of the holders of the revenue bonds and to secure the payment of such bonds
and the interest thereon.
12-899.Revenue bonds; issuance; terms and conditions; form; interim
receipts, temporary bonds; security; payment; issuance of additional bonds.
(a) A municipal energy agency, without an election, may from time to time
issue and sell its revenue bonds or notes in such principal amounts as the
municipal energy agency shall deem necessary to provide sufficient funds
for the acquisition or construction of any project to be owned
or leased, as lessor or lessee, by the municipal energy agency, or the acquisition
of any interest therein or any right to capacity thereof, the funding or
refunding of the principal of, or interest or redemption premiums on, any
bonds or notes issued by such agency whether or not such bonds or notes or interest
to be funded or refunded have or have not become due, the establishment
or increase of reserves to secure or to pay such bonds or notes or interest
thereon, and the payment of all other costs or expenses of the municipal
energy agency incident to and necessary for the issuance of such bonds or notes.
(b) Revenue bonds may be issued hereunder from time to time and shall
be authorized by resolution, and secured by a trust indenture or other security
agreement approved by the board of directors, unless otherwise provided
in the agreement creating the agency or the bylaws of the agency. Such
bonds may be term or serial bonds maturing not later than forty (40) years
after date of issuance, may be subject to redemption prior to maturity with
or without premium, at such times and upon such conditions as may be provided
by the resolution, shall bear a rate of interest not to exceed the maximum
rate of interest prescribed by K.S.A. 10-1009 and amendments thereto and
shall be in such form and payable as determined by the board of directors.
The board may sell such bonds in such manner and for such price as it shall
determine best. Such bonds may be payable at any bank having trust powers
or at any trust company, within or without the state, and may be secured
by a trust agreement or other appropriate documents which provide for the
deposit and disbursement of funds through any such bank or trust company.
(c) Revenue bonds issued hereunder may be issued in coupon or registered
form, or both, as prescribed by the resolution, trust indenture or other
security agreement, and provisions may be made for the registration of coupon
bonds as to principal only or as to both principal and interest and for
the reconversion of registered bonds into coupon bonds. Such bonds may
be issued in any denomination or denominations. Such bonds and the coupons
attached to coupon bonds shall be signed either manually or by facsimile
signature, as shall be determined by the agency,
and sealed with the seal of the agency or a facsimile thereof. In case
of any officer whose signature or facsimile thereof appears on any bonds
or coupons shall cease to be such officer before the delivery of such bonds,
such signature or such facsimile signature shall nevertheless be valid and
sufficient for all purposes as if such officer had remained in office until
the delivery thereof. The agency may provide for the replacement of any
mutilated, lost or destroyed bonds.
(d) Prior to the preparation of definitive bonds, the agency, under like
restrictions, may issue interim receipts or temporary bonds, with or without
coupons, exchangeable for definitive bonds when such bonds shall
have been executed and are available for delivery.
(e) The resolution, trust indenture or other security agreement may pledge
or assign, in whole or in part, the revenues and other moneys derived or
to be derived by the agency from its system and any contract or other rights
to receive the same, whether then existing or thereafter coming into existence,
and whether then held or thereafter acquired by the agency, and the proceeds
thereof, and may mortgage, pledge and grant a security interest in any or
all of its real and personal property to secure the payment of the bonds.
(f) The board by appropriate resolution, trust indenture or other security
agreement shall make provisions for the payment of said bonds by fixing
rates, fees and charges for electric power and other energy and all other
services, sufficient to pay the costs of operation, improvement and maintenance
of the electric power and other energy facilities, to provide adequate depreciation
funds, to provide an adequate
sinking fund to retire said bonds, to pay the interest and principal thereon
when due and to create reasonable reserves. The resolution, trust indenture
or other security agreement may establish limitations upon the issuance
of additional revenue bonds and may provide that additional
revenue bonds shall stand on a parity or otherwise as to the revenues of
the agency and in all other respects with revenue bonds previously issued
on such conditions as may be specified in such resolutions, trust indentures
or other security agreements. Such resolution, trust indenture or other
security agreement may include other agreements, covenants or restrictions
deemed necessary or advisable by the board of directors to effect the efficient
operation of the system, to safeguard the interest
of the holders of the revenue bonds and to secure the payment of such bonds
and the interest thereon.