Whenever used in this act, the following words and terms shall have the following respective meanings unless different meanings clearly appear from the context:

(a) “Bonds” means any revenue bonds or notes authorized under this act and payable as provided hereunder.

Terms Used In Kansas Statutes 12-5221

  • Bonds: means any revenue bonds or notes authorized under this act and payable as provided hereunder. See Kansas Statutes 12-5221
  • City: means any city organized and existing under the laws of the state of Kansas. See Kansas Statutes 12-5221
  • Condominium: means any condominium as defined in Kan. See Kansas Statutes 12-5221
  • County: means any county in the state of Kansas. See Kansas Statutes 12-5221
  • Governing body: means the city council or city commission of a city or the board of county commissioners of a county. See Kansas Statutes 12-5221
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Home mortgage loan: means an interest-bearing loan to a mortgagor evidenced by a promissory note and secured by a mortgage, purchased or originated in accordance with this act: (1) Made for the purpose of acquiring a home; or (2) made for the purpose of acquiring and rehabilitating a home; or (3) made for the purpose of paying the costs of rehabilitating or improving a home. See Kansas Statutes 12-5221
  • Lending institution: means any bank, bank holding company, credit union, trust company, savings bank, national banking association, savings and loan association, building and loan association, mortgage banker or other financial institution which customarily provides service or otherwise aids in the financing of home mortgages, or any holding company for any of the foregoing. See Kansas Statutes 12-5221
  • Manufactured home: means a structure which:

    (1) Is transportable in one or more sections which, in the traveling mode, is 8 body feet or more in width or 40 body feet or more in length, or, when erected on site, is 320 or more square feet, and which is built on a permanent chassis and designed to be used as a dwelling, with or without permanent foundation, when connected to the required utilities, and includes the plumbing, heating, air conditioning and electrical systems contained therein; and

    (2) is subject to the federal manufactured home construction and safety standards established pursuant to 42 U. See Kansas Statutes 77-201

  • Mobile home: means a structure which:

    (1) Is transportable in one or more sections which, in the traveling mode, is 8 body feet or more in width and 36 body feet or more in length and is built on a permanent chassis and designed to be used as a dwelling, with or without a permanent foundation, when connected to the required utilities, and includes the plumbing, heating, air conditioning and electrical systems contained therein; and

    (2) is not subject to the federal manufactured home construction and safety standards established pursuant to 42 U. See Kansas Statutes 77-201

  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Mortgagor: means any person of low and moderate income who has received or qualifies to receive a home mortgage loan on a home. See Kansas Statutes 12-5221
  • Ordinance: means an ordinance adopted and approved by the governing body of a city or a resolution adopted and approved by the board of county commissioners of a county. See Kansas Statutes 12-5221
  • Person: means a natural person or a trust for the benefit of a natural person. See Kansas Statutes 12-5221
  • Persons of low and moderate income: means a person or family, consisting of one or more persons all of whom occupy or will occupy the home, whose aggregate gross income including the gross income of any cosigner or guarantor of the promissory note made in connection with the making of a home mortgage loan shall not exceed a maximum amount to be established by the city or county subject to the limitations provided herein, and determined in accordance with appropriate criteria, rules and regulations, approved by the governing body of a city or county in connection with the implementation of a residential housing finance plan. See Kansas Statutes 12-5221
  • Residence: means the place which is adopted by a person as the person's place of habitation and to which, whenever the person is absent, the person has the intention of returning. See Kansas Statutes 77-201
  • Residential housing finance plan: means a program implemented under this act by a city or county to assist persons of low and moderate income in acquiring safe, decent and sanitary housing which they can afford. See Kansas Statutes 12-5221
  • Solar energy system: means any solar energy system as defined in subsection (a) of Kan. See Kansas Statutes 12-5221
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201

(b) “City” means any city organized and existing under the laws of the state of Kansas.

(c) “Condominium” means any condominium as defined in Kan. Stat. Ann. § 58-3102.

(d) “County” means any county in the state of Kansas.

(e) “Solar energy system” means any solar energy system as defined in subsection (a) of Kan. Stat. Ann. § 79-32,169, and amendments thereto.

(f) “Governing body” means the city council or city commission of a city or the board of county commissioners of a county.

(g) “Home” (1) means (A) a one- to four-family residence;

(B) a condominium;

(C) a manufactured home, as defined by Kan. Stat. Ann. § 58-4202, and amendments thereto; or

(D) a mobile home, as defined by Kan. Stat. Ann. § 58-4202, and amendments thereto, having a permanent foundation which may not be removed intact from the land; and

(2) consists of the land and improvements thereon, located within a city or county and which is either owned and occupied or is owned and is to be occupied by the mortgagor, and in the case of a two- to four-family residence, one unit of the residence shall be either owned and occupied or is owned and is to be occupied by the mortgagor.

(h) “Home mortgage loan” means an interest-bearing loan to a mortgagor evidenced by a promissory note and secured by a mortgage, purchased or originated in accordance with this act: (1) Made for the purpose of acquiring a home; or (2) made for the purpose of acquiring and rehabilitating a home; or (3) made for the purpose of paying the costs of rehabilitating or improving a home. No city or county shall fix or establish any minimum home value for the purpose of limiting loan eligibility for a home mortgage loan under the provisions of this act.

(i) “Lender” means any lending institution participating in a residential housing finance plan as the originator of home mortgage loans or as a servicing agent for home mortgage loans.

(j) “Lending institution” means any bank, bank holding company, credit union, trust company, savings bank, national banking association, savings and loan association, building and loan association, mortgage banker or other financial institution which customarily provides service or otherwise aids in the financing of home mortgages, or any holding company for any of the foregoing.

(k) “Mortgagor” means any person of low and moderate income who has received or qualifies to receive a home mortgage loan on a home.

(l) “Ordinance” means an ordinance adopted and approved by the governing body of a city or a resolution adopted and approved by the board of county commissioners of a county.

(m) “Person” means a natural person or a trust for the benefit of a natural person.

(n) “Persons of low and moderate income” means a person or family, consisting of one or more persons all of whom occupy or will occupy the home, whose aggregate gross income including the gross income of any cosigner or guarantor of the promissory note made in connection with the making of a home mortgage loan shall not exceed a maximum amount to be established by the city or county subject to the limitations provided herein, and determined in accordance with appropriate criteria, rules and regulations, approved by the governing body of a city or county in connection with the implementation of a residential housing finance plan.

(o) “Residential housing finance plan” means a program implemented under this act by a city or county to assist persons of low and moderate income in acquiring safe, decent and sanitary housing which they can afford. Such plan shall include provisions allowing each lending institution with an office located within the limits of the issuing city or county, or any city or county signatory to a cooperative agreement, pursuant to Kan. Stat. Ann. § 12-5231, and amendments thereto, an equal opportunity to participate in accordance with standards and requirements established by such city or county.

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