PART I.--GOVERNMENT BY MAYOR AND COUNCIL AND GENERAL LAWS
Article 12.--PUBLIC UTILITIES
13-1255.Same; liens on revenues of utility; recitals; negotiability.
Such revenue bonds are hereby made a lien on the revenues produced from
such utility, but shall not be general obligations of the issuing
municipality, and shall not contain the recitals set forth in K.S.A.
10-112, and any amendment thereof, but shall contain recitals stating the
authority under which said bonds are issued; that they are issued in
conformity with the provisions, restrictions and limitations of that
authority, that such bonds and the interest thereon are to be paid by the
issuing municipality from the revenues derived from the rates, fees or
charges herein mentioned, and not from any other fund or source, that the
same have been registered in the offices of the clerk of the issuing
municipality and the treasurer of the state of Kansas, respectively, and
that said bonds are negotiable.
All such bonds, when registered and issued as herein provided, shall
import absolute verity and shall be conclusive, in favor of all persons
purchasing said bonds, that all proceedings and conditions precedent have
been had and performed to authorize the issuance thereof, and such bonds
shall be negotiable and may be issued in addition to the statutory limit of
bonded indebtedness of the issuing municipality. No municipality shall have
authority to levy taxes to pay the principal of or interest upon revenue
bonds issued under the terms of this act, and the provisions of K.S.A.
10-113 shall not apply to bonds issued hereunder.
PART I.--GOVERNMENT BY MAYOR AND COUNCIL AND GENERAL LAWS
Article 12.--PUBLIC UTILITIES
13-1255.Same; liens on revenues of utility; recitals; negotiability.
Such revenue bonds are hereby made a lien on the revenues produced from
such utility, but shall not be general obligations of the issuing
municipality, and shall not contain the recitals set forth in K.S.A.
10-112, and any amendment thereof, but shall contain recitals stating the
authority under which said bonds are issued; that they are issued in
conformity with the provisions, restrictions and limitations of that
authority, that such bonds and the interest thereon are to be paid by the
issuing municipality from the revenues derived from the rates, fees or
charges herein mentioned, and not from any other fund or source, that the
same have been registered in the offices of the clerk of the issuing
municipality and the treasurer of the state of Kansas, respectively, and
that said bonds are negotiable.
All such bonds, when registered and issued as herein provided, shall
import absolute verity and shall be conclusive, in favor of all persons
purchasing said bonds, that all proceedings and conditions precedent have
been had and performed to authorize the issuance thereof, and such bonds
shall be negotiable and may be issued in addition to the statutory limit of
bonded indebtedness of the issuing municipality. No municipality shall have
authority to levy taxes to pay the principal of or interest upon revenue
bonds issued under the terms of this act, and the provisions of K.S.A.
10-113 shall not apply to bonds issued hereunder.
PART I.--GOVERNMENT BY MAYOR AND COUNCIL AND GENERAL LAWS
Article 12.--PUBLIC UTILITIES
13-1255.Same; liens on revenues of utility; recitals; negotiability.
Such revenue bonds are hereby made a lien on the revenues produced from
such utility, but shall not be general obligations of the issuing
municipality, and shall not contain the recitals set forth in K.S.A.
10-112, and any amendment thereof, but shall contain recitals stating the
authority under which said bonds are issued; that they are issued in
conformity with the provisions, restrictions and limitations of that
authority, that such bonds and the interest thereon are to be paid by the
issuing municipality from the revenues derived from the rates, fees or
charges herein mentioned, and not from any other fund or source, that the
same have been registered in the offices of the clerk of the issuing
municipality and the treasurer of the state of Kansas, respectively, and
that said bonds are negotiable.
All such bonds, when registered and issued as herein provided, shall
import absolute verity and shall be conclusive, in favor of all persons
purchasing said bonds, that all proceedings and conditions precedent have
been had and performed to authorize the issuance thereof, and such bonds
shall be negotiable and may be issued in addition to the statutory limit of
bonded indebtedness of the issuing municipality. No municipality shall have
authority to levy taxes to pay the principal of or interest upon revenue
bonds issued under the terms of this act, and the provisions of K.S.A.
10-113 shall not apply to bonds issued hereunder.