Kansas Statutes 74-8920. Bonds for state agency or IMPACT act projects; condition precedent to issuance; involvement of pooled money investment board
(a) Before the Kansas development finance authority issues any bonds for any state agency project or a project or investment under the IMPACT act, the authority shall conduct a feasibility analysis and recommend to the secretary of administration any project which appears appropriate for consideration to offer to the pooled money investment board as an alternative investment. If the secretary of administration approves the recommendation, the secretary shall give notice of such approval to the chairperson of the pooled money investment board in writing. If the pooled money investment board and the secretary of administration reach agreement on the terms and conditions of the financing, the pooled money investment board may invest in any such project.
(b) Unless the pooled money investment board has declined the investment, the Kansas development finance authority shall not proceed to issue bonds for any project offered to the pooled money investment board until at least 15 days after the secretary of administration’s notice to the pooled money investment board under subsection (a).
Terms Used In Kansas Statutes 74-8920
- Act: means the Kansas development finance authority act. See Kansas Statutes 74-8902
- Authority: means the Kansas development finance authority created by Kan. See Kansas Statutes 74-8902
- Board: means the board of trustees of Kansas City Kansas community college;
(2) "foundation" means the Kansas multi-sport and recreation foundation;
(3) "increment" means that amount of state and local sales tax revenue imposed pursuant to Kan. See Kansas Statutes 74-8936
- Bonds: means any bonds, notes, debentures, interim certificates, grant and revenue anticipation notes, interest in a lease, lease certificate of participation or other evidences of indebtedness, whether or not the interest on which is subject to federal income taxation, issued by the authority pursuant to this act. See Kansas Statutes 74-8902
- project: means the construction of a multi-sport athletic complex and the improvement of facilities within the project area; and
(5) "project area" means the boundaries of the area in which the project will be undertaken as described by the board, but shall not include the boundaries of any redevelopment district in a major tourism area which includes an auto race track facility located in Wyandotte county as follows: Beginning at the intersection of Interstate 70 and Interstate 435; west along Interstate 70 to 118th Street; north along 118th Street to State Avenue; northeasterly along proposed relocated State Avenue to 110th Street; north along 110th Street to Parallel Parkway; east along Parallel Parkway to Interstate 435; South along Interstate 435 to Interstate 70. See Kansas Statutes 74-8936
- State: means the state of Kansas. See Kansas Statutes 74-8902
- State agency: means any office, department, board, commission, bureau, division, public corporation, agency or instrumentality of this state. See Kansas Statutes 74-8902
(c) The authority shall give notice to the pooled money investment board of the public sale of bonds for any state agency or IMPACT act projects. The pooled money investment board is authorized to purchase any such bonds.