Kansas Statutes 76-7,119. Same; bonds not a state obligation
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Terms Used In Kansas Statutes 76-7,119
- Bonds: means any bonds, notes, lease certificates of participation or other evidences of indebtedness, whether or not the interest on which is subject to federal income taxation, issued by the Kansas development finance authority on behalf of the board of regents pursuant to this act to finance a scientific research and development facility. See Kansas Statutes 76-779
- Dependent: A person dependent for support upon another.
- 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: means the state of Kansas. See Kansas Statutes 76-779
- State board: means the state board of regents. See Kansas Statutes 76-7,126
Neither the state nor the state board shall have the power to pledge the full faith and credit or taxing power of the state of Kansas for such purposes and any payment by the state board for such purposes shall be subject to and dependent on appropriations by the legislature. Any obligation of the state board for payment of debt service on bonds and any such bonds issued for the purposes set forth in Kan. Stat. Ann. § 76-7,120, and amendments thereto, shall not be considered a debt or obligation of the state for the purpose of section 6 of article 11 of the constitution of the state of Kansas.