68-2037.Use and disposition of tolls and other revenues derivedfrom projects; sinking fund.The authority is hereby authorized to fix, revise, charge and collecttolls for the use of each turnpike project financed under the provisionsof this act and the different parts or sections thereof, and to contractwith any person, partnership, association or corporation desiring theuse of any part thereof, including the right-of-way adjoining the pavedportion, for placing thereon telephone, telegraph, electric light orpower lines, motor fuel filling stations, garages, and restaurants, orfor any other purpose except for tracks for railroad or railway use, andto fix the terms, conditions, rents and rates of charges for such use.
All contracts made by the authority for retail establishments orlocations for retail establishments shall be made separately for eachretail establishment or location for a retail establishment, and sealedbids shall be asked separately on each retail establishment or eachlocation for a retail establishment by public offering, duly advertisedas provided by law for the advertising for bids on state highwayconstruction projects, and each such contract shall be let by theauthority in like manner as provided by law for the letting of highwayconstruction contracts by the secretary of transportation. Such tollsshall be so fixed and adjusted in respect of the aggregate of tolls fromthe turnpike project or projects in connection with which the bonds ofany issue shall have been issued hereunder as to provide a fundsufficient with other revenues, if any, and any payments to theauthority from the state highway fund provided to be made pursuant tothe provisions of K.S.A. 68-2033, and pledged for the paymentof such bonds, to pay (a) the cost of maintaining, repairing andoperating such turnpike project or projects; (b) the principal of andthe interest on such bonds as the same shall become due and payable, andto create reserves for such purposes; and (c) the costs of reimbursingthe secretary of transportation for the credit of the state highway fundany amounts previously paid to the authority by the secretary. Suchtolls shall not be subject to supervision or regulation by any othercommission, board, bureau or agency of the state.
The tolls and all other revenues derived from the turnpike project orprojects in connection with which the bonds of any issue shall have beenissued, except such part thereof as may be necessary to pay such cost ofmaintenance, repair and operation, to provide reserves therefor, and toreimburse the secretary of transportation for the credit of the statehighway fund any amounts previously paid to the authority by thesecretary, as may be provided for in the resolution authorizing theissuance of such bonds or in the trust agreement securing the same or inany contract or agreement between the secretary and the authority, shallbe set aside at such regular intervals as may be provided in suchresolution or such trust agreement in a sinking fund which is herebypledged to, and charged with, the payment of the principal of and theinterest on such bonds as the same shall become due, and the redemptionprice or the purchase price of bonds retired by call or purchase astherein provided. Such pledge shall be valid and binding from the timewhen the pledge is made; the tolls or other revenues or other moneys sopledged and thereafter received by the authority shall immediately besubject to the lien of such pledge without any physical delivery thereofor further act, and the lien of any such pledge shall be valid andbinding as against all parties having claims of any kind in tort,contracts or otherwise against the authority, irrespective of whethersuch parties have notice thereof.
Neither the resolution nor any trust agreement or other instrument bywhich a pledge is created need be filed or recorded except in therecords of the authority. The use and disposition of moneys to thecredit of such sinking fund shall be subject to the provisions of theresolution authorizing the issuance of such bonds or of such trustagreement. Except as may otherwise be provided in such resolution orsuch trust agreement, such sinking fund shall be a fund for all suchbonds without distinction or priority of one over another.
History: L. 1957, ch. 368, § 8; L. 1975, ch. 427,§ 183; Aug. 15.
68-2037.Use and disposition of tolls and other revenues derivedfrom projects; sinking fund.The authority is hereby authorized to fix, revise, charge and collecttolls for the use of each turnpike project financed under the provisionsof this act and the different parts or sections thereof, and to contractwith any person, partnership, association or corporation desiring theuse of any part thereof, including the right-of-way adjoining the pavedportion, for placing thereon telephone, telegraph, electric light orpower lines, motor fuel filling stations, garages, and restaurants, orfor any other purpose except for tracks for railroad or railway use, andto fix the terms, conditions, rents and rates of charges for such use.
All contracts made by the authority for retail establishments orlocations for retail establishments shall be made separately for eachretail establishment or location for a retail establishment, and sealedbids shall be asked separately on each retail establishment or eachlocation for a retail establishment by public offering, duly advertisedas provided by law for the advertising for bids on state highwayconstruction projects, and each such contract shall be let by theauthority in like manner as provided by law for the letting of highwayconstruction contracts by the secretary of transportation. Such tollsshall be so fixed and adjusted in respect of the aggregate of tolls fromthe turnpike project or projects in connection with which the bonds ofany issue shall have been issued hereunder as to provide a fundsufficient with other revenues, if any, and any payments to theauthority from the state highway fund provided to be made pursuant tothe provisions of K.S.A. 68-2033, and pledged for the paymentof such bonds, to pay (a) the cost of maintaining, repairing andoperating such turnpike project or projects; (b) the principal of andthe interest on such bonds as the same shall become due and payable, andto create reserves for such purposes; and (c) the costs of reimbursingthe secretary of transportation for the credit of the state highway fundany amounts previously paid to the authority by the secretary. Suchtolls shall not be subject to supervision or regulation by any othercommission, board, bureau or agency of the state.
The tolls and all other revenues derived from the turnpike project orprojects in connection with which the bonds of any issue shall have beenissued, except such part thereof as may be necessary to pay such cost ofmaintenance, repair and operation, to provide reserves therefor, and toreimburse the secretary of transportation for the credit of the statehighway fund any amounts previously paid to the authority by thesecretary, as may be provided for in the resolution authorizing theissuance of such bonds or in the trust agreement securing the same or inany contract or agreement between the secretary and the authority, shallbe set aside at such regular intervals as may be provided in suchresolution or such trust agreement in a sinking fund which is herebypledged to, and charged with, the payment of the principal of and theinterest on such bonds as the same shall become due, and the redemptionprice or the purchase price of bonds retired by call or purchase astherein provided. Such pledge shall be valid and binding from the timewhen the pledge is made; the tolls or other revenues or other moneys sopledged and thereafter received by the authority shall immediately besubject to the lien of such pledge without any physical delivery thereofor further act, and the lien of any such pledge shall be valid andbinding as against all parties having claims of any kind in tort,contracts or otherwise against the authority, irrespective of whethersuch parties have notice thereof.
Neither the resolution nor any trust agreement or other instrument bywhich a pledge is created need be filed or recorded except in therecords of the authority. The use and disposition of moneys to thecredit of such sinking fund shall be subject to the provisions of theresolution authorizing the issuance of such bonds or of such trustagreement. Except as may otherwise be provided in such resolution orsuch trust agreement, such sinking fund shall be a fund for all suchbonds without distinction or priority of one over another.
History: L. 1957, ch. 368, § 8; L. 1975, ch. 427,§ 183; Aug. 15.
68-2037.Use and disposition of tolls and other revenues derivedfrom projects; sinking fund.The authority is hereby authorized to fix, revise, charge and collecttolls for the use of each turnpike project financed under the provisionsof this act and the different parts or sections thereof, and to contractwith any person, partnership, association or corporation desiring theuse of any part thereof, including the right-of-way adjoining the pavedportion, for placing thereon telephone, telegraph, electric light orpower lines, motor fuel filling stations, garages, and restaurants, orfor any other purpose except for tracks for railroad or railway use, andto fix the terms, conditions, rents and rates of charges for such use.
All contracts made by the authority for retail establishments orlocations for retail establishments shall be made separately for eachretail establishment or location for a retail establishment, and sealedbids shall be asked separately on each retail establishment or eachlocation for a retail establishment by public offering, duly advertisedas provided by law for the advertising for bids on state highwayconstruction projects, and each such contract shall be let by theauthority in like manner as provided by law for the letting of highwayconstruction contracts by the secretary of transportation. Such tollsshall be so fixed and adjusted in respect of the aggregate of tolls fromthe turnpike project or projects in connection with which the bonds ofany issue shall have been issued hereunder as to provide a fundsufficient with other revenues, if any, and any payments to theauthority from the state highway fund provided to be made pursuant tothe provisions of K.S.A. 68-2033, and pledged for the paymentof such bonds, to pay (a) the cost of maintaining, repairing andoperating such turnpike project or projects; (b) the principal of andthe interest on such bonds as the same shall become due and payable, andto create reserves for such purposes; and (c) the costs of reimbursingthe secretary of transportation for the credit of the state highway fundany amounts previously paid to the authority by the secretary. Suchtolls shall not be subject to supervision or regulation by any othercommission, board, bureau or agency of the state.
The tolls and all other revenues derived from the turnpike project orprojects in connection with which the bonds of any issue shall have beenissued, except such part thereof as may be necessary to pay such cost ofmaintenance, repair and operation, to provide reserves therefor, and toreimburse the secretary of transportation for the credit of the statehighway fund any amounts previously paid to the authority by thesecretary, as may be provided for in the resolution authorizing theissuance of such bonds or in the trust agreement securing the same or inany contract or agreement between the secretary and the authority, shallbe set aside at such regular intervals as may be provided in suchresolution or such trust agreement in a sinking fund which is herebypledged to, and charged with, the payment of the principal of and theinterest on such bonds as the same shall become due, and the redemptionprice or the purchase price of bonds retired by call or purchase astherein provided. Such pledge shall be valid and binding from the timewhen the pledge is made; the tolls or other revenues or other moneys sopledged and thereafter received by the authority shall immediately besubject to the lien of such pledge without any physical delivery thereofor further act, and the lien of any such pledge shall be valid andbinding as against all parties having claims of any kind in tort,contracts or otherwise against the authority, irrespective of whethersuch parties have notice thereof.
Neither the resolution nor any trust agreement or other instrument bywhich a pledge is created need be filed or recorded except in therecords of the authority. The use and disposition of moneys to thecredit of such sinking fund shall be subject to the provisions of theresolution authorizing the issuance of such bonds or of such trustagreement. Except as may otherwise be provided in such resolution orsuch trust agreement, such sinking fund shall be a fund for all suchbonds without distinction or priority of one over another.
History: L. 1957, ch. 368, § 8; L. 1975, ch. 427,§ 183; Aug. 15.
