Session Law

Identifying Information:L. 2001 ch. 182
Other Identifying Information:2001 House Substitute for Senate Bill 304
Tax Type:Other
Brief Description:An Act concerning the secretary of transportation; authorizing the issuance of certain bonds; amending K.S.A. 2000 Supp. 68-2320 and repealing the existing section.
Keywords:


Body:

CHAPTER 182

HOUSE Substitute for SENATE BILL No. 304


An Act concerning the secretary of transportation; authorizing the issuance of certain

bonds; amending K.S.A. 2000 Supp. 68-2320 and repealing the existing section.

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

Section 1. K.S.A. 2000 Supp. 68-2320 is hereby amended to read as

follows: 68-2320. (a) On and after July 1, 1991, the secretary of transpor-

tation is hereby authorized and empowered to issue bonds of the state of

Kansas, payable solely from revenues accruing to the state highway fund

and transferred to the highway bond debt service fund and pledged to

their payment, for the purpose of providing funds to pay costs relating to

construction, reconstruction, maintenance or improvement of highways

in this state and to pay all expenses incidental thereto and to the bonds.

The secretary is hereby authorized to issue bonds the total principal

amount of which shall not exceed $890,000,000.

(b) In addition to the provisions of subsection (a), on and after July

1, 1999, the secretary of transportation is hereby authorized and empow-

ered to issue bonds of the state of Kansas, payable solely from revenues

accruing to the state highway fund and transferred to the highway bond

debt service fund and pledged to their payment, for the purpose of pro-

viding funds to pay costs relating to construction, reconstruction, main-

tenance or improvement of highways in this state and to pay all expenses

incidental thereto and to the bonds. The secretary is hereby authorized

to issue bonds the total principal amount of which shall not exceed

$995,000,000 $1,272,000,000.

(c) In accordance with procurement statutes, the secretary may con-

tract with financial advisors, attorneys and such other professional services

as the secretary deems necessary to carry out the provisions of this act,

and to do all things necessary or convenient to carry out the powers

expressly granted in this act.

Sec. 2. K.S.A. 2000 Supp. 68-2320 is hereby repealed.

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

publication in the Kansas register.

Approved May 21, 2000.

Published in the Kansas Register May 24, 2000.


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