76-6a19. Same; covenants and agreements. (a) In order to secure the prompt payment of the principal and interest on such revenue bonds and the proper application of the revenue pledged thereto, the board is authorized by appropriate provisions in the resolution authorizing the bonds or in other resolutions:
(1) To covenant as to the use and disposition of the proceeds of the sale of such bonds;
(2) to covenant as to the operation of the building and the collection and disposition of the revenues derived from such operation;
(3) to covenant as to the rights, liabilities, powers and duties arising from the pledge of any covenant and agreement into which it may enter in authorizing and issuing the bonds;
(4) to covenant and agree to carry such insurance on the building and the use and occupancy thereof as may be considered desirable, and in its discretion to provide that the cost of such insurance shall be considered a part of the expense of operating the building;
(5) to fix rents, charges and fees to be imposed in connection with and for the use of the building and the facilities supplied thereby, which rents, charges and fees shall be considered to be income and revenues derived from the operation of the building and are hereby expressly required to be fully sufficient to assure the prompt payment of principal and interest on the bonds as each becomes due, and to make and enforce such rules and regulations with reference to the use of the building and with reference to requiring any class or classes of students to use the building as it deems desirable for the welfare of the institution and its students or for the accomplishment of the purposes of this act;
(6) to covenant to maintain a maximum percentage of occupancy of the building;
(7) to covenant, in the case of a building to be constructed by the state board of regents when the revenue bonds are to be financed in whole or in part by revenues derived from student fees and not by the gross or net income and revenues of such building, to fix and impose or specify student fees, to pledge the revenues therefrom to assure the prompt payment of principal and interest on the bonds as each becomes due and to provide a reasonable reserve fund, to the extent such bonds are financed from student fees;
(8) to covenant against the issuance of any other obligations payable on a parity from the revenues to be derived from the building or from the revenues to be derived from student fees in the case of a building to be constructed by the state board of regents when the revenue bonds are to be financed in whole or in part by revenues derived from student fees and not by the gross or net income or revenues of such building;
(9) to make covenants other than and in addition to those herein expressly mentioned of such character as may be considered necessary or advisable to effect the purposes of this act.
(b) All such agreements and covenants entered into by the board shall be binding in all respects upon the board and its officials, agents, employees, and upon its successors, and all such agreements and covenants shall be enforceable by appropriate action or suit at law or in equity which may be brought by any holder or holders of bonds issued hereunder against the board, or its officials, agents, employees, or its successors. The rents, charges and fees to be imposed under the provisions of this act shall not be limited by the provisions of any prior act.
History: L. 1947, ch. 435, § 7; L. 1985, ch. 300, § 4; May 2.
Structure Kansas Statutes
Chapter 76 - State Institutions And Agencies; Historical Property
Article 6a - Student Union And Other Buildings
76-6a02 Lease; terms; powers and duties of secretary of administration.
76-6a03 Contract with owners of buildings; terms; cost estimates by secretary of administration.
76-6a04 Fees collected from students; pledge of receipts.
76-6a05 Room or board in dormitory by students; rentals and fees; pledge of incomes.
76-6a06 Moneys to state treasurer; statements; credited to separate fund; disbursements.
76-6a07 Insurance by lessee; pledge of rentals for construction and equipment; limitations.
76-6a08 Fees and charges to be additional.
76-6a10 Bonds exempt from taxation.
76-6a11 Incurring of indebtedness not authorized.
76-6a12 Federal aid for buildings and equipment at state schools.
76-6a13 Revenue bonds for buildings and facilities at educational institutions; definitions.
76-6a13a Construction of certain buildings authorized.
76-6a13b Same; issuance of bonds.
76-6a13c Construction of building authorized; revenue bonds.
76-6a13e Same; revenue bonds authorized; limitation.
76-6a13f Same; use of fees, charges and funds to pay costs; incurring indebtedness prohibited.
76-6a13g Same; contracts with boards or university controlled corporations.
76-6a14 Buildings at educational institutions; powers of boards; prohibitions.
76-6a15 Same; issuance; pledge of revenues; priority of liens where more than one series issued.
76-6a16 Same; revenue bonds not to constitute indebtedness.
76-6a18 Same; refunding bonds; procedures.
76-6a19 Same; covenants and agreements.
76-6a20 Same; deposit of bond sale proceeds; contracts.
76-6a21 Same; disposition of income and revenues; pledge.
76-6a22 Bonds exempt from taxation.
76-6a23 Same; investments in bonds authorized; collateral security for deposit of public funds.
76-6a24 Same; authority and powers conferred by act; invalidity of part.
76-6a29 Construction of certain buildings authorized.
76-6a30 Same; issuance of bonds.
76-6a31 Acquisition of Fairmount Towers authorized.
76-6a33 Construction of parking facility at KUMC authorized.
76-6a34 Same; issuance of bonds.
76-6a35 Construction of medical library at KUMC authorized; issuance of bonds.
76-6a36 Construct and equip coliseum at Kansas state university; issuance of bonds.