68-2305. Same; no debt incurred nor faith and credit of state or political subdivisions pledged by issuance of bonds. Bonds issued under the provisions of this act shall not be deemed to constitute a debt of the state or of any political subdivision thereof or a pledge of the faith and credit of the state or of any such political subdivision thereof, but all such bonds shall be payable solely from revenues accruing to the state freeway fund and pledged for their payment. All such bonds shall contain on the face thereof a statement to the effect that neither the state nor the commission shall be obligated to pay the same or the interest thereon except from moneys accruing to the state freeway fund pledged to the payment of such bonds, and that the faith and credit of the state are not pledged to the payment of the principal of or the interest on such bonds.
History: L. 1972, ch. 252, ยง 4; Feb. 22.
Structure Kansas Statutes
Chapter 68 - Roads And Bridges
Article 23 - Express Highways And Freeways
68-2303 Same; powers of secretary of transportation.
68-2308 Same; rights of bondholders.
68-2309 Same; interest and income from bonds exempt from taxation, exception.
68-2310 Same; bonds deemed securities; acquisition and deposit.
68-2314b Transportation works for Kansas program; projects; programs.
68-2316 Minimum expenditure for transportation projects or programs in each county.
68-2317 Highway contracts; providing for prevailing wages.
68-2319 Highway program; bonds; definitions.
68-2320 Powers of secretary of transportation; issuance of bonds; limitations.
68-2322 Sale of bonds; no debt incurred nor faith and credit of state pledged by issuance of bonds.
68-2323 Use of proceeds from bonds.
68-2327 Authority to establish special accounts by secretary of transportation.
68-2328 Authority to issue refunding bonds; refunding freeway bonds.
68-2329 Liberal construction of 68-2319 through 68-2328.