68-2033.Contracts between secretary of transportation andauthority; payments from state highway fund for turnpike projects;reimbursement of state highway fund from toll revenues; payments subjectto certain prior payments.The secretary of transportation and the authority are hereby authorizedand empowered to make and enter into any and all contracts andagreements, including (but without limitation) any contract or agreementfor the removal or construction of any bridge or other highway facilitywhich they may deem necessary, desirable or incidental to the financing,construction, maintenance, repair or operation of any turnpike projectfinanced under the provisions of this act.
With respect to any turnpike project financed under the provisions ofthis act, the secretary is authorized and empowered to contract or agreewith the authority to pay to the authority from the state highway fund,upon order or voucher of the secretary of transportation in the mannerprovided by law to the director of accounts and reports, in each year,such amount or amounts as shall be required in such year to make up anydeficiency in the revenues received from the operation and ownership ofsuch turnpike project in such year, over and above the cost ofmaintenance, repair and operation of such turnpike project incurred insuch year; (i) for paying the interest on all turnpike revenue bonds orturnpike revenue refunding bonds issued by the authority in connectionwith such turnpike projects; (ii) for retiring such bonds by theirmaturity or maturities; and (iii) for paying the premium, if any, on aspecified aggregate principal amount of such bonds which would bepayable in such year if such principal amount of bonds were to beredeemed prior to their maturity or maturities. The amount which isrequired in each such year to provide for paying the interest on suchbonds and for retiring such bonds by their maturity or maturities shallbe determined as provided in such contract or agreement. Any suchpayments required to be made pursuant to such contract or agreement maybe pledged or assigned by the authority in the same manner as tolls andother revenues of such turnpike project. Any such contract or agreementshall provide for reimbursement by the authority, from tolls or otherrevenues of such turnpike projects, to the secretary of transportationfor the credit of the state highway fund, at any time or times and undersuch terms and conditions as may be set forth therein, of any amountspreviously paid to the authority by the secretary pursuant to theprovisions of this paragraph,except that if therevenues received from the operation and ownership of such turnpikeproject in any year, over and above the cost of maintenance, repair andoperation of such turnpike project incurred in such year, shall exceed150% of clauses (i), (ii) and(iii) abovefor such year, such excess must be reimbursed to the secretary, for thecredit of the state highway fund, until all amounts previously paid tothe authority by the secretary of transportation have been reimbursed tothe secretary.
Any payments provided to be made in any year pursuant to theprovisions of this section to the authority from the state highway fundshall be a lien and claim on the portion of the highway fundwhich ismade available to the secretary of transportation by the provisions ofK.S.A. 68-416, and amendmentsthereto, but any such payments provided tobe made shall not be a lien or claim on any of the sums now provided byK.S.A. 68-416, and amendments thereto, except that the secretary oftransportation and the authority maydetermine any priority as to lien and claim on the fund asbetween anysuch payments to the authority from the fund on account ofany turnpikeprojects financed under the provisions of this act. The laws of Kansasshall not be repealed or amended so as to cause the moneys available inthe state highway fund for making any payments to the authority providedto be made pursuant to the provisions of this section to be insufficientto make any such payments.
The provisions of any contract or agreement entered into pursuant tothe provisions of this section may be enforced by the authority or bythe trustee under any trust agreement authorized by the provisions ofK.S.A. 68-2038, and amendments thereto.
History: L. 1957, ch. 368, § 4; L. 1963, ch. 340, § 1; L. 1975,ch. 427, § 182;L. 1999, ch. 137, § 11; July 1.
68-2033.Contracts between secretary of transportation andauthority; payments from state highway fund for turnpike projects;reimbursement of state highway fund from toll revenues; payments subjectto certain prior payments.The secretary of transportation and the authority are hereby authorizedand empowered to make and enter into any and all contracts andagreements, including (but without limitation) any contract or agreementfor the removal or construction of any bridge or other highway facilitywhich they may deem necessary, desirable or incidental to the financing,construction, maintenance, repair or operation of any turnpike projectfinanced under the provisions of this act.
With respect to any turnpike project financed under the provisions ofthis act, the secretary is authorized and empowered to contract or agreewith the authority to pay to the authority from the state highway fund,upon order or voucher of the secretary of transportation in the mannerprovided by law to the director of accounts and reports, in each year,such amount or amounts as shall be required in such year to make up anydeficiency in the revenues received from the operation and ownership ofsuch turnpike project in such year, over and above the cost ofmaintenance, repair and operation of such turnpike project incurred insuch year; (i) for paying the interest on all turnpike revenue bonds orturnpike revenue refunding bonds issued by the authority in connectionwith such turnpike projects; (ii) for retiring such bonds by theirmaturity or maturities; and (iii) for paying the premium, if any, on aspecified aggregate principal amount of such bonds which would bepayable in such year if such principal amount of bonds were to beredeemed prior to their maturity or maturities. The amount which isrequired in each such year to provide for paying the interest on suchbonds and for retiring such bonds by their maturity or maturities shallbe determined as provided in such contract or agreement. Any suchpayments required to be made pursuant to such contract or agreement maybe pledged or assigned by the authority in the same manner as tolls andother revenues of such turnpike project. Any such contract or agreementshall provide for reimbursement by the authority, from tolls or otherrevenues of such turnpike projects, to the secretary of transportationfor the credit of the state highway fund, at any time or times and undersuch terms and conditions as may be set forth therein, of any amountspreviously paid to the authority by the secretary pursuant to theprovisions of this paragraph,except that if therevenues received from the operation and ownership of such turnpikeproject in any year, over and above the cost of maintenance, repair andoperation of such turnpike project incurred in such year, shall exceed150% of clauses (i), (ii) and(iii) abovefor such year, such excess must be reimbursed to the secretary, for thecredit of the state highway fund, until all amounts previously paid tothe authority by the secretary of transportation have been reimbursed tothe secretary.
Any payments provided to be made in any year pursuant to theprovisions of this section to the authority from the state highway fundshall be a lien and claim on the portion of the highway fundwhich ismade available to the secretary of transportation by the provisions ofK.S.A. 68-416, and amendmentsthereto, but any such payments provided tobe made shall not be a lien or claim on any of the sums now provided byK.S.A. 68-416, and amendments thereto, except that the secretary oftransportation and the authority maydetermine any priority as to lien and claim on the fund asbetween anysuch payments to the authority from the fund on account ofany turnpikeprojects financed under the provisions of this act. The laws of Kansasshall not be repealed or amended so as to cause the moneys available inthe state highway fund for making any payments to the authority providedto be made pursuant to the provisions of this section to be insufficientto make any such payments.
The provisions of any contract or agreement entered into pursuant tothe provisions of this section may be enforced by the authority or bythe trustee under any trust agreement authorized by the provisions ofK.S.A. 68-2038, and amendments thereto.
History: L. 1957, ch. 368, § 4; L. 1963, ch. 340, § 1; L. 1975,ch. 427, § 182;L. 1999, ch. 137, § 11; July 1.
68-2033.Contracts between secretary of transportation andauthority; payments from state highway fund for turnpike projects;reimbursement of state highway fund from toll revenues; payments subjectto certain prior payments.The secretary of transportation and the authority are hereby authorizedand empowered to make and enter into any and all contracts andagreements, including (but without limitation) any contract or agreementfor the removal or construction of any bridge or other highway facilitywhich they may deem necessary, desirable or incidental to the financing,construction, maintenance, repair or operation of any turnpike projectfinanced under the provisions of this act.
With respect to any turnpike project financed under the provisions ofthis act, the secretary is authorized and empowered to contract or agreewith the authority to pay to the authority from the state highway fund,upon order or voucher of the secretary of transportation in the mannerprovided by law to the director of accounts and reports, in each year,such amount or amounts as shall be required in such year to make up anydeficiency in the revenues received from the operation and ownership ofsuch turnpike project in such year, over and above the cost ofmaintenance, repair and operation of such turnpike project incurred insuch year; (i) for paying the interest on all turnpike revenue bonds orturnpike revenue refunding bonds issued by the authority in connectionwith such turnpike projects; (ii) for retiring such bonds by theirmaturity or maturities; and (iii) for paying the premium, if any, on aspecified aggregate principal amount of such bonds which would bepayable in such year if such principal amount of bonds were to beredeemed prior to their maturity or maturities. The amount which isrequired in each such year to provide for paying the interest on suchbonds and for retiring such bonds by their maturity or maturities shallbe determined as provided in such contract or agreement. Any suchpayments required to be made pursuant to such contract or agreement maybe pledged or assigned by the authority in the same manner as tolls andother revenues of such turnpike project. Any such contract or agreementshall provide for reimbursement by the authority, from tolls or otherrevenues of such turnpike projects, to the secretary of transportationfor the credit of the state highway fund, at any time or times and undersuch terms and conditions as may be set forth therein, of any amountspreviously paid to the authority by the secretary pursuant to theprovisions of this paragraph,except that if therevenues received from the operation and ownership of such turnpikeproject in any year, over and above the cost of maintenance, repair andoperation of such turnpike project incurred in such year, shall exceed150% of clauses (i), (ii) and(iii) abovefor such year, such excess must be reimbursed to the secretary, for thecredit of the state highway fund, until all amounts previously paid tothe authority by the secretary of transportation have been reimbursed tothe secretary.
Any payments provided to be made in any year pursuant to theprovisions of this section to the authority from the state highway fundshall be a lien and claim on the portion of the highway fundwhich ismade available to the secretary of transportation by the provisions ofK.S.A. 68-416, and amendmentsthereto, but any such payments provided tobe made shall not be a lien or claim on any of the sums now provided byK.S.A. 68-416, and amendments thereto, except that the secretary oftransportation and the authority maydetermine any priority as to lien and claim on the fund asbetween anysuch payments to the authority from the fund on account ofany turnpikeprojects financed under the provisions of this act. The laws of Kansasshall not be repealed or amended so as to cause the moneys available inthe state highway fund for making any payments to the authority providedto be made pursuant to the provisions of this section to be insufficientto make any such payments.
The provisions of any contract or agreement entered into pursuant tothe provisions of this section may be enforced by the authority or bythe trustee under any trust agreement authorized by the provisions ofK.S.A. 68-2038, and amendments thereto.
History: L. 1957, ch. 368, § 4; L. 1963, ch. 340, § 1; L. 1975,ch. 427, § 182;L. 1999, ch. 137, § 11; July 1.
