68-2058.Use and disposition of tolls and other revenues derived fromthe project; sinking fund.The authority is hereby authorized to fix, revise, charge and collecttolls for the use of the turnpike project financed under the provisions ofthis act and the different parts or sections thereof, and to contract withany person, partnership, association or corporation desiring the use of anypart thereof, including the right-of-way adjoining the paved portion, forplacing thereon telephone, telegraph, electric light or power lines, motorfuel filling stations, garages, and restaurants, or for any other purposeexcept for tracks for railroad or railway use, and to fix the terms,conditions, rents and rates of charges for such use: Provided, Inorder to promote competition and prevent monopoly, contracts for the use ofany part of a turnpike project, including the right-of-way adjoining thepaved portion for placing motor fuel filling stations thereon shall be letso that the petroleum products of at least three (3) different oilcompanies will be made available for sale to the public. All contracts madeby the authority for retail establishments or locations for retailestablishments shall be made separately for each retail establishment orlocation for a retail establishment, and sealed bids shall be askedseparately on each retail establishment or each location for a retailestablishment by public offering, duly advertised as provided by law forthe advertising for bids on state highway construction projects, and eachsuch contract shall be let by the authority in like manner as provided bylaw for the letting of highway construction contracts by the secretary oftransportation. Such tolls shall be so fixed and adjusted as to provide afund sufficient with other revenues, if any, to pay
(a) the cost of maintaining, repairing and operating the turnpikeproject; (b) the principal of and the interest on such bonds as the sameshall become due and payable, and to create reserves for such purposes.Such tolls shall not be subject to supervision or regulation by any othercommission, board, bureau or agency of the state. The tolls and all otherrevenues derived from the turnpike project, except such part thereof as maybe necessary to pay such cost of maintenance, repair and operation, toprovide reserves therefor, to pay the cost of any additions, improvementsand enlargements to the turnpike project, as may be provided for in theresolution authorizing the issuance of such bonds or in the trust agreementsecuring the same, shall be set aside at such regular intervals as may beprovided in such resolution or such trust agreement in a sinking fund whichis hereby pledged to, and charged with, the payment of the principal of andthe interest on such bonds as the same shall become due, and the redemptionprice or the purchase price of bonds retired by call or purchase as thereinprovided. Such pledge shall be valid and binding from the time when thepledge is made; the tolls or other revenues or other moneys so pledged andthereafter received by the authority shall immediately be subject to thelien of such pledge without any physical delivery thereof or further act,and the lien of any such pledge shall be valid and binding as against allparties having claims of any kind in tort, contracts or otherwise againstthe authority, irrespective of whether such parties have notice thereof.Neither the resolution nor any trust agreement or other instrument by whicha pledge is created need be filed or recorded except in the records of theauthority and it is hereby expressly provided that none of the filing orrecording requirements contained in chapter 84 of the Kansas StatutesAnnotated, being the uniform commercial code, shall be applicable to anybonds issued hereunder or any pledge of revenues or other funds madepursuant hereto or any resolution authorizing such bonds or any trustagreement securing the same. 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 or suchtrust agreement, such sinking fund shall be a fund for all such bondswithout distinction or priority of one over another.
History: L. 1967, ch. 356, § 8; L. 1975, ch. 427, §189; Aug. 15.
68-2058.Use and disposition of tolls and other revenues derived fromthe project; sinking fund.The authority is hereby authorized to fix, revise, charge and collecttolls for the use of the turnpike project financed under the provisions ofthis act and the different parts or sections thereof, and to contract withany person, partnership, association or corporation desiring the use of anypart thereof, including the right-of-way adjoining the paved portion, forplacing thereon telephone, telegraph, electric light or power lines, motorfuel filling stations, garages, and restaurants, or for any other purposeexcept for tracks for railroad or railway use, and to fix the terms,conditions, rents and rates of charges for such use: Provided, Inorder to promote competition and prevent monopoly, contracts for the use ofany part of a turnpike project, including the right-of-way adjoining thepaved portion for placing motor fuel filling stations thereon shall be letso that the petroleum products of at least three (3) different oilcompanies will be made available for sale to the public. All contracts madeby the authority for retail establishments or locations for retailestablishments shall be made separately for each retail establishment orlocation for a retail establishment, and sealed bids shall be askedseparately on each retail establishment or each location for a retailestablishment by public offering, duly advertised as provided by law forthe advertising for bids on state highway construction projects, and eachsuch contract shall be let by the authority in like manner as provided bylaw for the letting of highway construction contracts by the secretary oftransportation. Such tolls shall be so fixed and adjusted as to provide afund sufficient with other revenues, if any, to pay
(a) the cost of maintaining, repairing and operating the turnpikeproject; (b) the principal of and the interest on such bonds as the sameshall become due and payable, and to create reserves for such purposes.Such tolls shall not be subject to supervision or regulation by any othercommission, board, bureau or agency of the state. The tolls and all otherrevenues derived from the turnpike project, except such part thereof as maybe necessary to pay such cost of maintenance, repair and operation, toprovide reserves therefor, to pay the cost of any additions, improvementsand enlargements to the turnpike project, as may be provided for in theresolution authorizing the issuance of such bonds or in the trust agreementsecuring the same, shall be set aside at such regular intervals as may beprovided in such resolution or such trust agreement in a sinking fund whichis hereby pledged to, and charged with, the payment of the principal of andthe interest on such bonds as the same shall become due, and the redemptionprice or the purchase price of bonds retired by call or purchase as thereinprovided. Such pledge shall be valid and binding from the time when thepledge is made; the tolls or other revenues or other moneys so pledged andthereafter received by the authority shall immediately be subject to thelien of such pledge without any physical delivery thereof or further act,and the lien of any such pledge shall be valid and binding as against allparties having claims of any kind in tort, contracts or otherwise againstthe authority, irrespective of whether such parties have notice thereof.Neither the resolution nor any trust agreement or other instrument by whicha pledge is created need be filed or recorded except in the records of theauthority and it is hereby expressly provided that none of the filing orrecording requirements contained in chapter 84 of the Kansas StatutesAnnotated, being the uniform commercial code, shall be applicable to anybonds issued hereunder or any pledge of revenues or other funds madepursuant hereto or any resolution authorizing such bonds or any trustagreement securing the same. 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 or suchtrust agreement, such sinking fund shall be a fund for all such bondswithout distinction or priority of one over another.
History: L. 1967, ch. 356, § 8; L. 1975, ch. 427, §189; Aug. 15.
68-2058.Use and disposition of tolls and other revenues derived fromthe project; sinking fund.The authority is hereby authorized to fix, revise, charge and collecttolls for the use of the turnpike project financed under the provisions ofthis act and the different parts or sections thereof, and to contract withany person, partnership, association or corporation desiring the use of anypart thereof, including the right-of-way adjoining the paved portion, forplacing thereon telephone, telegraph, electric light or power lines, motorfuel filling stations, garages, and restaurants, or for any other purposeexcept for tracks for railroad or railway use, and to fix the terms,conditions, rents and rates of charges for such use: Provided, Inorder to promote competition and prevent monopoly, contracts for the use ofany part of a turnpike project, including the right-of-way adjoining thepaved portion for placing motor fuel filling stations thereon shall be letso that the petroleum products of at least three (3) different oilcompanies will be made available for sale to the public. All contracts madeby the authority for retail establishments or locations for retailestablishments shall be made separately for each retail establishment orlocation for a retail establishment, and sealed bids shall be askedseparately on each retail establishment or each location for a retailestablishment by public offering, duly advertised as provided by law forthe advertising for bids on state highway construction projects, and eachsuch contract shall be let by the authority in like manner as provided bylaw for the letting of highway construction contracts by the secretary oftransportation. Such tolls shall be so fixed and adjusted as to provide afund sufficient with other revenues, if any, to pay
(a) the cost of maintaining, repairing and operating the turnpikeproject; (b) the principal of and the interest on such bonds as the sameshall become due and payable, and to create reserves for such purposes.Such tolls shall not be subject to supervision or regulation by any othercommission, board, bureau or agency of the state. The tolls and all otherrevenues derived from the turnpike project, except such part thereof as maybe necessary to pay such cost of maintenance, repair and operation, toprovide reserves therefor, to pay the cost of any additions, improvementsand enlargements to the turnpike project, as may be provided for in theresolution authorizing the issuance of such bonds or in the trust agreementsecuring the same, shall be set aside at such regular intervals as may beprovided in such resolution or such trust agreement in a sinking fund whichis hereby pledged to, and charged with, the payment of the principal of andthe interest on such bonds as the same shall become due, and the redemptionprice or the purchase price of bonds retired by call or purchase as thereinprovided. Such pledge shall be valid and binding from the time when thepledge is made; the tolls or other revenues or other moneys so pledged andthereafter received by the authority shall immediately be subject to thelien of such pledge without any physical delivery thereof or further act,and the lien of any such pledge shall be valid and binding as against allparties having claims of any kind in tort, contracts or otherwise againstthe authority, irrespective of whether such parties have notice thereof.Neither the resolution nor any trust agreement or other instrument by whicha pledge is created need be filed or recorded except in the records of theauthority and it is hereby expressly provided that none of the filing orrecording requirements contained in chapter 84 of the Kansas StatutesAnnotated, being the uniform commercial code, shall be applicable to anybonds issued hereunder or any pledge of revenues or other funds madepursuant hereto or any resolution authorizing such bonds or any trustagreement securing the same. 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 or suchtrust agreement, such sinking fund shall be a fund for all such bondswithout distinction or priority of one over another.
History: L. 1967, ch. 356, § 8; L. 1975, ch. 427, §189; Aug. 15.
