Session Law

Identifying Information:L. 2001 ch. 048
Other Identifying Information:2001 House Bill 2185
Tax Type:Other
Brief Description:An Act concerning improvement districts; concerning the issuance of revenue bonds; amending K.S.A. 19-2777 and repealing the existing section.
Keywords:


Body:

CHAPTER 48

HOUSE BILL No. 2185


An Act concerning improvement districts; concerning the issuance of revenue bonds;

amending K.S.A. 19-2777 and repealing the existing section.

Be it enacted by the Legislature of the State of Kansas:

Section 1. K.S.A. 19-2777 is hereby amended to read as follows: 19-

2777. (a) Except as provided by subsection (b), any revenue bonds issued

under the provisions of this act K.S.A. 19-2776, and amendments thereto,

shall mature serially or otherwise: Provided, That all of said. Such bonds

shall mature within a maximum period of thirty (30) 30 years from the

date of issue issuance and shall bear interest at a rate not to exceed the

maximum rate of interest prescribed by K.S.A. 10-1009, and amendments

thereto.

(b) Any revenue bonds issued under the provisions of K.S.A. 19-2776,

and amendments thereto, and sold, pursuant to written agreement, to the

government of the United States of America or any bureau, department,

instrumentality or agency thereof, shall be issued to mature in not more

than 40 years and shall bear interest at a rate not to exceed the maximum

rate prescribed by K.S.A. 10-1009, and amendments thereto, payable at

such times fixed by the board of directors of the improvement district

issuing the same. The bonds shall mature serially or otherwise, may be in

coupon or registered form and interchangeable, and shall have such other

terms and provisions as the board of directors of the improvement district

provides by resolution or trust agreement.

Sec. 2. K.S.A. 19-2777 is hereby repealed.

Sec. 3. This act shall take effect and be in force from and after its

publication in the Kansas register.

Approved March 28, 2000.

Published in the Kansas Register April 5, 2000.


__________




Date Composed: 09/25/2001 Date Modified: 09/25/2001