Terms Used In Kansas Statutes 80-113

  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.

The township board of any township is hereby authorized and empowered to issue its general obligation bonds in an amount not to exceed one percent of the assessed tangible valuation of such township for the purpose of obtaining funds for the reconstruction, repair and equipment of township buildings: Provided, however, Such township shall not issue such bonds until and after an election therefor has been had, which election shall be held in accordance with the provisions of Kan. Stat. Ann. §§ 80-104 and 80-105.