; full faith and credit bonds; issuance; applicability of bonded debt limitation; protest petition; loans from transportation revolving fund. (a) Any municipality may issue full faith and credit bonds in one or more series to finance any project in accordance with the provisions of this act and to refinance or refund any notes or bonds issued pursuant to this act. Bonds issued pursuant to this section shall be general obligations of the municipality and give rise to a charge against its general credit and taxing powers, and such bonds shall so state on their face. Such bonds shall be made payable, both as to principal and interest solely from a pledge of the sources of funds described in Kan. Stat. Ann. § 12-6a33, and amendments thereto, including a pledge of a municipality’s full faith and credit to use its ad valorem taxing authority for the repayment thereof in the event all other authorized sources of revenue are not sufficient. The municipality may pledge such revenue to the repayment of such bonds prior to, simultaneously with or subsequent to the issuance of such bonds.

(b) Bonds issued pursuant to this section shall be general obligations of the municipality and are declared to be negotiable instruments. Such bonds shall be executed by the authorized representatives of the municipality and sealed with the corporate seal of the municipality. All details pertaining to the issuance of the bonds and terms and conditions thereof shall be determined by ordinance or resolution of the municipality. The provisions of Kan. Stat. Ann. § 10-106, and amendments thereto, requiring a public sale of bonds shall not apply to bonds issued under this section. All bonds issued pursuant to this section and all income or interest therefrom shall be exempt from all state taxes except inheritance taxes. Such bonds shall contain the recitals set forth in Kan. Stat. Ann. § 10-112, and amendments thereto. Such bonds shall mature in no more than 22 years. Any municipality issuing bonds under the provisions of this section may refund all or part of such bonds pursuant to the provisions of Kan. Stat. Ann. § 10-427, and amendments thereto.

Terms Used In Kansas Statutes 12-6a36

  • Act: means the provisions of Kan. See Kansas Statutes 12-6a27
  • Bonds: means special obligation bonds, special obligation notes, full faith and credit bonds or full faith and credit notes payable solely from the sources described in Kan. See Kansas Statutes 12-6a27
  • Municipality: means any city or county. See Kansas Statutes 12-6a27
  • 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.
  • Project: means :

    (1) Any project within the district to acquire, improve, construct, demolish, remove, renovate, reconstruct, rehabilitate, maintain, restore, replace, renew, repair, install, relocate, furnish, equip or extend:

    (A) Buildings, structures and facilities;

    (B) sidewalks, streets, roads, interchanges, highway access roads, intersections, alleys, parking lots, bridges, ramps, tunnels, overpasses and underpasses, traffic signs and signals, utilities, pedestrian amenities, abandoned cemeteries, drainage systems, water systems, storm systems, sewer systems, lift stations, underground gas, heating and electrical services and connections located within or without the public right-of-way, water mains and extensions and other site improvements;

    (C) parking garages;

    (D) streetscape, lighting, street light fixtures, street light connections, street light facilities, benches or other seating furniture, trash receptacles, marquees, awnings, canopies, walls and barriers;

    (E) parks, lawns, trees and other landscape;

    (F) communication and information booths, bus stops and other shelters, stations, terminals, hangers, restrooms and kiosks;

    (G) paintings, murals, display cases, sculptures, fountains and other cultural amenities;

    (H) airports, railroads, light rail and other mass transit facilities; and

    (I) lakes, dams, docks, wharfs, lakes or river ports, channels and levies, waterways and drainage conduits;

    (2) within the district, to operate or to contract for the provision of music, news, child-care, or parking lots or garages, and buses, minibuses or other modes of transportation;

    (3) within the district, to provide or contract for the provision of security personnel, equipment or facilities for the protection of property and persons;

    (4) within the district, to provide or contract for cleaning, maintenance and other services to public or private property;

    (5) within the district, to produce and promote any tourism, recreational or cultural activity or special event, including, but not limited to, advertising, decoration of any public place in the district, promotion of such activity and special events and furnishing music in any public place;

    (6) within the district, to support business activity and economic development, including, but not limited to, the promotion of business activity, development and retention and the recruitment of developers and business;

    (7) within the district, to provide or support training programs for employees of businesses;

    (8) to contract for or conduct economic impact, planning, marketing or other studies; and

    (9) within or without the district, costs for infrastructure located outside the district but contiguous to any portion of the district and such infrastructure is related to a project within the district or substantially for the benefit of the district. See Kansas Statutes 12-6a27

  • seal: includes an impression of the seal upon the paper alone, as well as upon wax or a wafer affixed to the paper. See Kansas Statutes 77-201
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201

(c) The amount of the full faith and credit bonds issued and outstanding under this act which exceeds 3% of the assessed valuation of the municipality shall be within the bonded debt limit applicable to such municipality.

(d) If, within 60 days following the date of the public hearing described in Kan. Stat. Ann. § 12-6a29, and amendments thereto, a protest petition signed by 5% of the qualified voters of the municipality is filed with the municipality’s clerk in accordance with the provisions of Kan. Stat. Ann. § 25-3601 et seq., and amendments thereto, no full faith and credit bonds shall be issued until the issuance of the full faith and credit bonds is approved by a majority of the voters voting at an election thereon. The failure of the voters to approve the issuance of full faith and credit bonds shall not prevent a municipality from issuing special obligation bonds.

(e) The provisions of subsections (b), (c) and (d) shall not apply to loans from the Kansas transportation revolving fund pursuant to Kan. Stat. Ann. § 75-5063 et seq., and amendments thereto.

  Previous section
Next section  
 Article 6a Contents