Kansas Statutes 68-2309. Same; interest and income from bonds exempt from taxation, exception
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Terms Used In Kansas Statutes 68-2309
- Bonds: means any bonds, notes or other evidences of indebtedness, including book-entry-only, whether or not the interest on such bonds is subject to federal income taxation, issued pursuant to the authority of this act. See Kansas Statutes 68-2319
- Highway projects: shall mean the express highways and freeways which are within the system of modern express highways and freeways established and constructed pursuant to Kan. See Kansas Statutes 68-2302
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
The exercise of the powers granted by this act will be in all respects for the benefit of the people of the state, for the increase of their commerce and prosperity and for the improvement of their health and living conditions; and as the construction, improvement and reconstruction of highway projects in the state will constitute the performance of essential governmental functions, all bonds issued pursuant to the provisions of this act, and all income or interest therefrom, at all times shall be exempt from all state taxes.