42-709.Provision for preliminary expenses.When a board of directors of any district shall have been elected andqualified, such boards shall have the power and authority to issue andsell negotiable evidences of debt to be designated as irrigationdistrict warrants, in such denominations as the board may fix for thepurpose of financing the preliminary work of the board and itsengineers, attorneys, agents and employees and such other incidentalexpenses as may be required for the purpose of formulating andinvestigating any plan of development in such district and otherwisecarry out the purposes of this act and may pledge and agree that the advalorem taxes first collected by the district shall be used in thepayment of such warrants together with interest thereon, if not toexceed the maximum rate of interest prescribed by K.S.A. 10-1009for which the board may annually levy and collect a generaltax not exceeding two mills on the dollar on all taxable property withinthe district. Said warrants if issued, shall not be sold for less thanpar and accrued interest and the proceeds of the sale shall be depositedin the same manner authorized herein for proceeds from the sale of bondsand shall only be withdrawn for the limited purposes herein set up.
Any money or surplus not required for the purposes set out in thissection shall be used to redeem and buy such warrants and surplus uponresolution of board of directors, may be transferred to the general fundof said district. This section shall be construed as providing temporaryand necessary means to finance preliminary expenses of such district, asan exception to the provisions of chapter 319 [*], Laws of Kansas, 1933,and after the completion of works and the receipts of revenue to bederived out of rentals and charges for water or other services,facilities or income of the district, such assessments shall no longerbe made and the provisions of chapter 319 [*] of the Session Laws ofKansas, 1933, shall have full force and effect.
History: L. 1941, ch. 262, § 9; L. 1970, ch. 64, § 75; March 21.
42-709.Provision for preliminary expenses.When a board of directors of any district shall have been elected andqualified, such boards shall have the power and authority to issue andsell negotiable evidences of debt to be designated as irrigationdistrict warrants, in such denominations as the board may fix for thepurpose of financing the preliminary work of the board and itsengineers, attorneys, agents and employees and such other incidentalexpenses as may be required for the purpose of formulating andinvestigating any plan of development in such district and otherwisecarry out the purposes of this act and may pledge and agree that the advalorem taxes first collected by the district shall be used in thepayment of such warrants together with interest thereon, if not toexceed the maximum rate of interest prescribed by K.S.A. 10-1009for which the board may annually levy and collect a generaltax not exceeding two mills on the dollar on all taxable property withinthe district. Said warrants if issued, shall not be sold for less thanpar and accrued interest and the proceeds of the sale shall be depositedin the same manner authorized herein for proceeds from the sale of bondsand shall only be withdrawn for the limited purposes herein set up.
Any money or surplus not required for the purposes set out in thissection shall be used to redeem and buy such warrants and surplus uponresolution of board of directors, may be transferred to the general fundof said district. This section shall be construed as providing temporaryand necessary means to finance preliminary expenses of such district, asan exception to the provisions of chapter 319 [*], Laws of Kansas, 1933,and after the completion of works and the receipts of revenue to bederived out of rentals and charges for water or other services,facilities or income of the district, such assessments shall no longerbe made and the provisions of chapter 319 [*] of the Session Laws ofKansas, 1933, shall have full force and effect.
History: L. 1941, ch. 262, § 9; L. 1970, ch. 64, § 75; March 21.
42-709.Provision for preliminary expenses.When a board of directors of any district shall have been elected andqualified, such boards shall have the power and authority to issue andsell negotiable evidences of debt to be designated as irrigationdistrict warrants, in such denominations as the board may fix for thepurpose of financing the preliminary work of the board and itsengineers, attorneys, agents and employees and such other incidentalexpenses as may be required for the purpose of formulating andinvestigating any plan of development in such district and otherwisecarry out the purposes of this act and may pledge and agree that the advalorem taxes first collected by the district shall be used in thepayment of such warrants together with interest thereon, if not toexceed the maximum rate of interest prescribed by K.S.A. 10-1009for which the board may annually levy and collect a generaltax not exceeding two mills on the dollar on all taxable property withinthe district. Said warrants if issued, shall not be sold for less thanpar and accrued interest and the proceeds of the sale shall be depositedin the same manner authorized herein for proceeds from the sale of bondsand shall only be withdrawn for the limited purposes herein set up.
Any money or surplus not required for the purposes set out in thissection shall be used to redeem and buy such warrants and surplus uponresolution of board of directors, may be transferred to the general fundof said district. This section shall be construed as providing temporaryand necessary means to finance preliminary expenses of such district, asan exception to the provisions of chapter 319 [*], Laws of Kansas, 1933,and after the completion of works and the receipts of revenue to bederived out of rentals and charges for water or other services,facilities or income of the district, such assessments shall no longerbe made and the provisions of chapter 319 [*] of the Session Laws ofKansas, 1933, shall have full force and effect.
History: L. 1941, ch. 262, § 9; L. 1970, ch. 64, § 75; March 21.
