Kansas Statutes 12-865. Same; revenue bonds; terms; disposition of excess funds
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Terms Used In Kansas Statutes 12-865
- Authority: means the natural gas authority authorized under this act. See Kansas Statutes 12-870
- City: means any city in this state. See Kansas Statutes 12-870
- Project: means any plant, works, system, facilities and real and personal property of any nature whatsoever, together with all parts thereof and appurtenances thereto, used or useful in the generation, production, transmission, purchase, sale, exchange or interchange of electric energy or any interest therein or capacity thereof and including all studies and planning with respect thereto. See Kansas Statutes 12-886
Revenue bonds issued under the provisions of this act shall mature not later than 40 years after the date of issuance. The bonds shall bear interest at a rate not to exceed the maximum rate of interest prescribed by Kan. Stat. Ann. § 10-1009, and amendments thereto. In no case where revenue bonds are issued under and by virtue of this act shall the total amount received therefrom be in excess of the actual cost of the project. No city shall have any right or authority to levy taxes to pay any of the principal of or interest on any revenue bonds or any judgment against the issuing city on account thereof and the provisions of Kan. Stat. Ann. § 10-113, and amendments thereto, shall not apply to any bonds issued hereunder.