12-195b. Same; pledge of proceeds for payment of bonds; conditions. The governing body of any city or county by the appropriate ordinance or resolution, may authorize the issuance of general obligation bonds to provide for the payment of all or any portion of the cost of any public facilities or improvements for which such city or county is otherwise authorized pursuant to the constitution or laws of this state to issue general obligation bonds. The governing body may pledge revenues received from countywide or city retailers' sales taxes imposed pursuant to K.S.A. 12-187 et seq., and amendments thereto, for the payment of such bonds. The pledge of revenues received from countywide or city retailers' sales taxes for payment of such bonds shall constitute an irrevocable pledge of the revenues and shall be made a lien on the revenues for the benefit of bondholders. Any bonds issued under this section shall be subject to the following requirements:
(a) Before the governing body of any city or county shall issue any general obligation bonds as authorized herein, the governing body shall cause to be prepared a comprehensive feasibility study showing that revenues received from a countywide or city retailers' sales tax would be sufficient to retire such bonds.
(b) Such bonds shall constitute a general obligation of the city or county payable from the pledged revenue received from countywide or city retailers' sales taxes and if not so paid such bonds shall be payable from ad valorem taxes which for the purpose of paying such bonds may be levied without limit as to rate or amount by the city or county, and shall be printed as provided in K.S.A. 10-112, and amendments thereto.
(c) Any bonds issued under the provisions of this section and the interest thereon, shall be exempt from all taxes levied by the state of Kansas or any political or taxing subdivision thereof.
(d) All bonds which are to be financed in accordance with the provisions of this section shall be subject to any statutory limitation of bonded indebtedness imposed on a city or county unless:
(1) The law authorizing the issuance of such bonds specifically excludes such bonds from any statutory limitation of bonded indebtedness;
(2) the bonds are excluded from the computation of bonded indebtedness pursuant to K.S.A. 10-307 or 10-309, and amendments thereto; or
(3) the bonds are issued by Douglas county or Sherman county.
(e) In the event the governing body of a city or county proposes to issue such bonds, and the question of issuing bonds as authorized herein has not previously been submitted to and approved by the voters of the city or county such proposition shall be published once each week for two consecutive weeks in its official newspaper. If within 30 days after the last publication of the proposition, a petition is filed with the county election officer signed by not less than 5% of the electors of the city or county who voted in the last preceding general election of the city or county, then no such bonds shall be issued unless the proposition is submitted to and approved by a majority of the voters of the city or county voting at an election held thereon. Any such elections shall be called and held in accordance with the provisions of K.S.A. 10-120, and amendments thereto, or in accordance with the provisions of the mail ballot election act.
History: L. 1991, ch. 54, § 2; L. 1995, ch. 242, § 1; L. 2006, ch. 9, § 3; L. 2006, ch. 204, § 4; L. 2010, ch. 44, § 4; July 1.
Structure Kansas Statutes
Chapter 12 - Cities And Municipalities
Article 1 - General Provisions
12-101 Corporate powers; home rule of local affairs and government.
12-101a Authority to levy tax for general fund.
12-104 "Governing body" defined.
12-104a Cities, consolidated cities and counties; procedure for filling prolonged vacancies.
12-104b City governing body members; volunteer activities.
12-111 Fire fighting beyond territorial limits of city or township; privileges and immunities.
12-111b Application of 12-111a, 13-14a10, 14-10a10 and 74-4978g.
12-120 Destruction of certain records.
12-121 Same; application of act.
12-122 Reproduction of records on film.
12-123 Same; evidence in courts or administrative agencies.
12-138 Same; election procedure; notice of election.
12-138a Initiative election on levying tax or other revenue measure.
12-138b Continuation in effect of tax or other revenue measures.
12-138c Taxes levied under home rule; prohibition under certain circumstances.
12-140 Cities prohibited from levying taxes on income; exception.
12-143 City vehicle tax authorized; tax situs; amount of tax.
12-144 Same; approval by election required.
12-146 Same; use of tax proceeds.
12-148 Same; contract provisions; apportionment of revenues.
12-149 Same; budgeting of revenues.
12-151 Property of city exempt from levy, execution and sale; judgments not lien on property.
12-156 Same; form of proposition; notice; expenses.
12-157 Same; canvass; approval of proposition, effect.
12-158 Election supplemental and alternative to other procedures.
12-183 Hospitals; maintenance and improvement; tax levies, use of proceeds.
12-184a Form of government continued.
12-186 Same; use of moneys by school district.
12-187a Same; power conferred to impose tax outside of boundaries.
12-189a Same; certain sales exempt from state sales tax subject to local tax.
12-189d Sales of bingo cards, faces and instant bingo tickets; exempt.
12-195 Same; use of proceeds for payment of bonds prohibited; exceptions.
12-195a Same; allotment of county proceeds to townships.
12-195b Same; pledge of proceeds for payment of bonds; conditions.
12-196 Same; transfer of revenue to road and bridge fund.
12-197 Same; pledging of revenue received; procedure.
12-1,105 Same; penalty for refusal or failure to file return.
12-1,106 Same; time of payment; collection.
12-1,107 Same; disposition of tax receipts.
12-1,108 Same; inspection of returns; unlawful acts, penalty.
12-1,110 Same; rules and regulations.
12-1,115 Collection of certain unpaid special assessments; action in district court for debt.
12-1,117 Municipal equipment reserve fund; purpose; investment and transfer of moneys in fund.
12-1,118 Multi-year capital improvement fund; purpose; investment and transfer of moneys in fund.
12-1,119 Consolidated street and highway fund; transfer of moneys; use of moneys.