12-3421. Same; bonds not debt of state, county or city, exception; special obligations, required recitals. No bonds issued under provisions of this act shall ever become a debt or obligation of the state of Kansas, nor shall the faith and credit of the state of Kansas be pledged in whole or in part, directly or indirectly, for the payment of such bonds, or interest thereon, except if so authorized by election as provided in subsection (c) of K.S.A. 12-3402. Bonds issued under this act shall not be an indebtedness of any county or counties, or any city or cities, which shall have created or joined in the formation of the port authority issuing the same. All bonds issued pursuant to this act shall be special obligations of the port authority concerned, payable solely from the revenues of the buildings and facilities referred to therein. Such bonds shall contain on the face thereof a statement to the effect that neither the state, nor any county or city concerned shall be obligated to pay the same, or the interest thereon, except from revenues of such facilities; and that neither the faith and credit nor the taxing power of the state or any political subdivision thereof is pledged or may hereafter be pledged to the payment of principal of or interest on such bonds.
History: L. 1969, ch. 89, ยง 21; July 1.
Structure Kansas Statutes
Chapter 12 - Cities And Municipalities
12-3401 Port authorities; definitions.
12-3404 Same; employees; advisory board; professional help.
12-3405 Same; area of jurisdiction.
12-3409 Same; validity of modification, amendment or extension of plan.
12-3411 Same; inapplicability to other laws.
12-3413 Same; budget; rents and charges; surplus of funds, use.
12-3414 Same; treasurer's bond; deposits and disbursements of funds.
12-3416 Port authorities; conditions of bonds; negotiability.
12-3417 Same; bonds; installment payment of bonds; conversion provisions.
12-3420 Same; issuance of bonds and refunding bonds; approval required.
12-3422 Same; pledges of revenues and income; powers of board of directors.
12-3423 Same; agreement with federal government.
12-3424 Same; segregation and use of proceeds; contracts for buildings and facilities.
12-3425 Same; approval of bonds by attorney general; effect.
12-3426 Same; investments in bonds of authority authorized.
12-3428 Same; sale of bonds; conditions.
12-3429 Same; emergencies; contracts.
12-3430 Same; oath and bond of trustees.
12-3431 Same; meetings open to public; records.