17-2352.Bonds of municipality; resolution; terms and conditions.
Bonds of a municipality shall be authorized by its resolution and may be
issued in one or more series and shall bear such date or dates, mature
at such time or times, bear interest at such rate or rates, not
exceeding the maximum rate prescribed by K.S.A. 10-1009, to
be in such denomination or denominations, be in such form either coupon
or registered, carry such conversion or registration privileges, have
such rank or priority, be executed in such manner, be payable in such
medium of payment, at such place or places, and be subject to such terms
of redemption (with or without premium) as such resolution, its trust
indenture or mortgage may provide.
The bonds may be sold at public or private sale at not less than par.
In case the commissioners or officers of the municipality or
authority whose signatures appear on any bonds or coupons shall cease to
be such commissioners or officers before the delivery of the bonds,
their signatures shall, nevertheless, be valid and sufficient for all
purposes, the same as if the commissioners or officers had remained in
office until such delivery. Any provision of any law to the contrary
notwithstanding, any bonds issued pursuant to this act shall be fully
negotiable.
In any suit, action or proceedings involving the validity or
enforceability of any bond issued pursuant to this act or the security
therefor, any such bond reciting in substance that it has been issued by
the municipality pursuant to this act shall be conclusively deemed to
have been issued for such purpose and the housing project in respect to
which such bond was issued shall be conclusively deemed to have been
planned, located and carried out in accordance with the purposes and
provisions of this act.
History: L. 1957, ch. 132, § 16; L. 1970, ch. 64,
§ 46; L. 1973, ch. 96, § 12; July 1.
17-2352.Bonds of municipality; resolution; terms and conditions.
Bonds of a municipality shall be authorized by its resolution and may be
issued in one or more series and shall bear such date or dates, mature
at such time or times, bear interest at such rate or rates, not
exceeding the maximum rate prescribed by K.S.A. 10-1009, to
be in such denomination or denominations, be in such form either coupon
or registered, carry such conversion or registration privileges, have
such rank or priority, be executed in such manner, be payable in such
medium of payment, at such place or places, and be subject to such terms
of redemption (with or without premium) as such resolution, its trust
indenture or mortgage may provide.
The bonds may be sold at public or private sale at not less than par.
In case the commissioners or officers of the municipality or
authority whose signatures appear on any bonds or coupons shall cease to
be such commissioners or officers before the delivery of the bonds,
their signatures shall, nevertheless, be valid and sufficient for all
purposes, the same as if the commissioners or officers had remained in
office until such delivery. Any provision of any law to the contrary
notwithstanding, any bonds issued pursuant to this act shall be fully
negotiable.
In any suit, action or proceedings involving the validity or
enforceability of any bond issued pursuant to this act or the security
therefor, any such bond reciting in substance that it has been issued by
the municipality pursuant to this act shall be conclusively deemed to
have been issued for such purpose and the housing project in respect to
which such bond was issued shall be conclusively deemed to have been
planned, located and carried out in accordance with the purposes and
provisions of this act.
History: L. 1957, ch. 132, § 16; L. 1970, ch. 64,
§ 46; L. 1973, ch. 96, § 12; July 1.
17-2352.Bonds of municipality; resolution; terms and conditions.
Bonds of a municipality shall be authorized by its resolution and may be
issued in one or more series and shall bear such date or dates, mature
at such time or times, bear interest at such rate or rates, not
exceeding the maximum rate prescribed by K.S.A. 10-1009, to
be in such denomination or denominations, be in such form either coupon
or registered, carry such conversion or registration privileges, have
such rank or priority, be executed in such manner, be payable in such
medium of payment, at such place or places, and be subject to such terms
of redemption (with or without premium) as such resolution, its trust
indenture or mortgage may provide.
The bonds may be sold at public or private sale at not less than par.
In case the commissioners or officers of the municipality or
authority whose signatures appear on any bonds or coupons shall cease to
be such commissioners or officers before the delivery of the bonds,
their signatures shall, nevertheless, be valid and sufficient for all
purposes, the same as if the commissioners or officers had remained in
office until such delivery. Any provision of any law to the contrary
notwithstanding, any bonds issued pursuant to this act shall be fully
negotiable.
In any suit, action or proceedings involving the validity or
enforceability of any bond issued pursuant to this act or the security
therefor, any such bond reciting in substance that it has been issued by
the municipality pursuant to this act shall be conclusively deemed to
have been issued for such purpose and the housing project in respect to
which such bond was issued shall be conclusively deemed to have been
planned, located and carried out in accordance with the purposes and
provisions of this act.
History: L. 1957, ch. 132, § 16; L. 1970, ch. 64,
§ 46; L. 1973, ch. 96, § 12; July 1.