27-334.Surplus property at airport, certain citiesand counties; general obligation bonds, limitations; revenuebonds, conditions and limitations; industrial revenue bonds.(a) The authority may issue its own general obligationbonds, revenue bonds and industrial revenue bonds asprovided by this section.
(b) Prior to the issuance of general obligation bonds in an amount lessthan $1,000,000, the board ofdirectors of the authority shall adopt a resolution setting forth theprincipal amounts of and the purpose for which the bonds are to beissued, and shall cause the same to be published once each week for twoconsecutive weeks in the officialcounty newspaper. If, within 30 days after publication of theresolution, a petition inopposition to the issuance of the bonds, signed by not less than 5% of thequalified electors of the county is filed with the county election officer, the board ofdirectors shall submit the proposed issuance of general obligation bondsto the electors of the county in the manner provided in the general bondlaw. If a majority of the voters voting on the propositionat the election vote in favor of the issuance, the bonds may be issuedby the authority.
The board of directors shall submit any proposed issuance of general obligationbonds in an amount which is equal to or which exceeds $1,000,000 for approvalat a primary or general election by the qualified electors of the county.The election shall becalled and held in the manner provided by the general bond law. If a majorityof the voters voting on the question vote in favor thereof, the bonds maybe issued in the manner provided by the general bond law. Whenever an electionhas been called in which all of the qualified electors of the county areeligible to vote, the board also may submitfor approval at such election any proposed issuance of general obligationbonds in an amount which is equal to or which exceeds $1,000,000.
General obligation bonds of the authority shall notbe issued in an amount in excess of 1.85% of the assessed valuation of allthe taxable tangibleproperty within the county as shown by the assessment books of theprevious year. The general obligation bonds of the authority shall be authorized,issued, registered and sold in the mannerprovided by the general bond law and shall bear interest at a rate not toexceed the maximum rate prescribed by K.S.A. 10-1009, and amendments thereto.The full faith and credit of theauthority shall be pledged to the payment of the general obligationbonds of the authority. The general obligation bonds of the authority shallnot constitute a debt or obligation of the city or county.
(c) The authority may issue revenue bonds from time to time for thepurpose of purchasing, constructing or otherwise acquiring, repairing,extending or improving any property or facility of the authority andmay pledge to the payment of the revenue bonds, both principal andinterest, any rental, rates, fees or charges derived or to be derived bythe authority from property or facilities owned or operated by it.The revenue bonds of the authority shall mature not laterthan 35 yearsafter the date of issuance. The revenue bondsshall bear interest at a rate not exceeding the maximum rate of interestprescribed by K.S.A. 10-1009, and amendments thereto. Thebonds and any interestcoupons shall be negotiable. The bonds shall contain recitals statingthe authority under which the bonds are issued, that they areissued in conformity with the provisions, restrictions and limitations ofthe authority and that the bonds and interest thereonshall be paid by the issuing authority from any rental, rates, fees orcharges derived orto be derived by the authority from property or facilities owned oroperated by it and not from any other fund or source. The bonds shallbe registered in the office of the secretary or clerk of the authorityissuing the bonds.
(d) The authority may issue the industrial revenue bonds of theauthority in the manner provided by K.S.A. 12-1740 to 12-1749,inclusive, and amendments thereto, and any other applicable provisions of law.
(e) The board of directors may, on its own initiative, submit any proposedissuance of bonds for approval, by the qualified electors of the countyat a primary or general election. Such election shall be otherwise calledand held in the manner provided by the general bond law. Whenever an electionhas been called in which all the qualified electors of the county are eligibleto vote, the board also may submit the question of issuing suchbonds for approval at such election.
History: L. 1978, ch. 148, § 8; L. 1981, ch. 173, § 63; L. 1982,ch. 162, § 1; L. 1983, ch. 49, § 78; May 12.
27-334.Surplus property at airport, certain citiesand counties; general obligation bonds, limitations; revenuebonds, conditions and limitations; industrial revenue bonds.(a) The authority may issue its own general obligationbonds, revenue bonds and industrial revenue bonds asprovided by this section.
(b) Prior to the issuance of general obligation bonds in an amount lessthan $1,000,000, the board ofdirectors of the authority shall adopt a resolution setting forth theprincipal amounts of and the purpose for which the bonds are to beissued, and shall cause the same to be published once each week for twoconsecutive weeks in the officialcounty newspaper. If, within 30 days after publication of theresolution, a petition inopposition to the issuance of the bonds, signed by not less than 5% of thequalified electors of the county is filed with the county election officer, the board ofdirectors shall submit the proposed issuance of general obligation bondsto the electors of the county in the manner provided in the general bondlaw. If a majority of the voters voting on the propositionat the election vote in favor of the issuance, the bonds may be issuedby the authority.
The board of directors shall submit any proposed issuance of general obligationbonds in an amount which is equal to or which exceeds $1,000,000 for approvalat a primary or general election by the qualified electors of the county.The election shall becalled and held in the manner provided by the general bond law. If a majorityof the voters voting on the question vote in favor thereof, the bonds maybe issued in the manner provided by the general bond law. Whenever an electionhas been called in which all of the qualified electors of the county areeligible to vote, the board also may submitfor approval at such election any proposed issuance of general obligationbonds in an amount which is equal to or which exceeds $1,000,000.
General obligation bonds of the authority shall notbe issued in an amount in excess of 1.85% of the assessed valuation of allthe taxable tangibleproperty within the county as shown by the assessment books of theprevious year. The general obligation bonds of the authority shall be authorized,issued, registered and sold in the mannerprovided by the general bond law and shall bear interest at a rate not toexceed the maximum rate prescribed by K.S.A. 10-1009, and amendments thereto.The full faith and credit of theauthority shall be pledged to the payment of the general obligationbonds of the authority. The general obligation bonds of the authority shallnot constitute a debt or obligation of the city or county.
(c) The authority may issue revenue bonds from time to time for thepurpose of purchasing, constructing or otherwise acquiring, repairing,extending or improving any property or facility of the authority andmay pledge to the payment of the revenue bonds, both principal andinterest, any rental, rates, fees or charges derived or to be derived bythe authority from property or facilities owned or operated by it.The revenue bonds of the authority shall mature not laterthan 35 yearsafter the date of issuance. The revenue bondsshall bear interest at a rate not exceeding the maximum rate of interestprescribed by K.S.A. 10-1009, and amendments thereto. Thebonds and any interestcoupons shall be negotiable. The bonds shall contain recitals statingthe authority under which the bonds are issued, that they areissued in conformity with the provisions, restrictions and limitations ofthe authority and that the bonds and interest thereonshall be paid by the issuing authority from any rental, rates, fees orcharges derived orto be derived by the authority from property or facilities owned oroperated by it and not from any other fund or source. The bonds shallbe registered in the office of the secretary or clerk of the authorityissuing the bonds.
(d) The authority may issue the industrial revenue bonds of theauthority in the manner provided by K.S.A. 12-1740 to 12-1749,inclusive, and amendments thereto, and any other applicable provisions of law.
(e) The board of directors may, on its own initiative, submit any proposedissuance of bonds for approval, by the qualified electors of the countyat a primary or general election. Such election shall be otherwise calledand held in the manner provided by the general bond law. Whenever an electionhas been called in which all the qualified electors of the county are eligibleto vote, the board also may submit the question of issuing suchbonds for approval at such election.
History: L. 1978, ch. 148, § 8; L. 1981, ch. 173, § 63; L. 1982,ch. 162, § 1; L. 1983, ch. 49, § 78; May 12.
27-334.Surplus property at airport, certain citiesand counties; general obligation bonds, limitations; revenuebonds, conditions and limitations; industrial revenue bonds.(a) The authority may issue its own general obligationbonds, revenue bonds and industrial revenue bonds asprovided by this section.
(b) Prior to the issuance of general obligation bonds in an amount lessthan $1,000,000, the board ofdirectors of the authority shall adopt a resolution setting forth theprincipal amounts of and the purpose for which the bonds are to beissued, and shall cause the same to be published once each week for twoconsecutive weeks in the officialcounty newspaper. If, within 30 days after publication of theresolution, a petition inopposition to the issuance of the bonds, signed by not less than 5% of thequalified electors of the county is filed with the county election officer, the board ofdirectors shall submit the proposed issuance of general obligation bondsto the electors of the county in the manner provided in the general bondlaw. If a majority of the voters voting on the propositionat the election vote in favor of the issuance, the bonds may be issuedby the authority.
The board of directors shall submit any proposed issuance of general obligationbonds in an amount which is equal to or which exceeds $1,000,000 for approvalat a primary or general election by the qualified electors of the county.The election shall becalled and held in the manner provided by the general bond law. If a majorityof the voters voting on the question vote in favor thereof, the bonds maybe issued in the manner provided by the general bond law. Whenever an electionhas been called in which all of the qualified electors of the county areeligible to vote, the board also may submitfor approval at such election any proposed issuance of general obligationbonds in an amount which is equal to or which exceeds $1,000,000.
General obligation bonds of the authority shall notbe issued in an amount in excess of 1.85% of the assessed valuation of allthe taxable tangibleproperty within the county as shown by the assessment books of theprevious year. The general obligation bonds of the authority shall be authorized,issued, registered and sold in the mannerprovided by the general bond law and shall bear interest at a rate not toexceed the maximum rate prescribed by K.S.A. 10-1009, and amendments thereto.The full faith and credit of theauthority shall be pledged to the payment of the general obligationbonds of the authority. The general obligation bonds of the authority shallnot constitute a debt or obligation of the city or county.
(c) The authority may issue revenue bonds from time to time for thepurpose of purchasing, constructing or otherwise acquiring, repairing,extending or improving any property or facility of the authority andmay pledge to the payment of the revenue bonds, both principal andinterest, any rental, rates, fees or charges derived or to be derived bythe authority from property or facilities owned or operated by it.The revenue bonds of the authority shall mature not laterthan 35 yearsafter the date of issuance. The revenue bondsshall bear interest at a rate not exceeding the maximum rate of interestprescribed by K.S.A. 10-1009, and amendments thereto. Thebonds and any interestcoupons shall be negotiable. The bonds shall contain recitals statingthe authority under which the bonds are issued, that they areissued in conformity with the provisions, restrictions and limitations ofthe authority and that the bonds and interest thereonshall be paid by the issuing authority from any rental, rates, fees orcharges derived orto be derived by the authority from property or facilities owned oroperated by it and not from any other fund or source. The bonds shallbe registered in the office of the secretary or clerk of the authorityissuing the bonds.
(d) The authority may issue the industrial revenue bonds of theauthority in the manner provided by K.S.A. 12-1740 to 12-1749,inclusive, and amendments thereto, and any other applicable provisions of law.
(e) The board of directors may, on its own initiative, submit any proposedissuance of bonds for approval, by the qualified electors of the countyat a primary or general election. Such election shall be otherwise calledand held in the manner provided by the general bond law. Whenever an electionhas been called in which all the qualified electors of the county are eligibleto vote, the board also may submit the question of issuing suchbonds for approval at such election.
History: L. 1978, ch. 148, § 8; L. 1981, ch. 173, § 63; L. 1982,ch. 162, § 1; L. 1983, ch. 49, § 78; May 12.
