Kansas Statutes 3-133. Same; bond limitations; liens
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Terms Used In Kansas Statutes 3-133
- Lien: A claim against real or personal property in satisfaction of a debt.
- Municipal: means pertaining to a municipality as herein defined. See Kansas Statutes 3-119a
- 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 amount of bonds which may be issued under the provisions of this act by the city shall not be in excess of 10 percent of the assessed valuation of the city, and bonds to such percentage may be issued. All bonds issued under the provisions of this act shall be a direct lien upon said airport and municipal fields for aviation purposes and payment thereof shall constitute a general obligation against the city at large.