Kansas Statutes 12-898. No levy of taxes or issuance of general obligation bonds; revenue bonds obligation of agency only
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Terms Used In Kansas Statutes 12-898
- Municipal energy agency: means a quasi-municipal corporation created by agreement between or among two or more cities pursuant to this act to exercise any of the powers granted by Kan. See Kansas Statutes 12-886
- 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.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
No municipal energy agency created under this act shall be authorized to levy taxes or to issue bonds which constitute a general obligation of the member cities or the residents thereof. Revenue bonds issued under the provisions of this act shall not be deemed to constitute a debt of the state or of any political subdivision or instrumentality thereof other than the agency, but shall be obligations of the agency only and shall be payable from the revenues of the agency as provided in the trust agreement securing such revenue bonds.