Kansas Statutes 68-434. County authorized to pay state’s share of cost of highway improvements; general obligation bonds
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Terms Used In Kansas Statutes 68-434
- 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
When the board of county commissioners of any county determines it is desirable to pay the state‘s share of the cost of highway improvement in such county, the board may issue general obligation bonds of the county for such purpose if authorized as provided in Kan. Stat. Ann. § 68-435. The bonds shall be authorized, issued, registered and sold in the manner prescribed by the general bond law and shall bear interest at a rate not to exceed the maximum rate prescribed by Kan. Stat. Ann. §§ 10-1009 and amendments thereto. General obligation bonds issued by a county under the authority of this section shall not be subject to any limitation on the bonded indebtedness of the county.