Kansas Statutes Annotated
Updated Through the 2013 Legislative Session

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Statute Number:74-8912
Chapter Title:STATE BOARDS, COMMISSIONS AND AUTHORITIES
Article Title:DEVELOPMENT FINANCE AUTHORITY
Tax Type:Corporate Income Tax; Individual Income Tax; Privilege
Brief Description:Refunding bonds authorized; disposition of proceeds;
manner of sale and security.
Keywords:


Body:

74-8912. Refunding bonds authorized; disposition of proceeds; manner of sale and security. Bonds may be issued for the purpose of refunding, either at maturity or in advance of maturity, any bonds issued under this act. Such refunding bonds may either be sold or delivered in exchange for the bonds being refunded. If sold, the proceeds may either be applied to the payment of the bonds being refunded or deposited in trust and there maintained in cash or investments for the retirement of the bonds being refunded, as shall be specified by the authority and the authorizing resolution or trust indenture securing such refunding bonds. The authorizing resolution or trust indenture securing the refunding bonds may provide that the refunding bonds shall have the same security for their payment as provided for the bonds being refunded. Refunding bonds shall be sold and secured in accordance with the provisions of this act pertaining to the sale and security of the bonds.
History: L. 1987, ch. 57, 12; May 28.


Date Composed: 04/04/2011 Date Modified: 04/04/2011

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