76-6a21. Same; disposition of income and revenues; pledge. (a) All income and revenues which are pledged to the payment of principal and interest on revenue bonds and which are derived from the operation of a building or buildings under the provisions of this act shall be deposited monthly in a bank, banks or other depositories designated by the board and shall be applied solely to pay the reasonable cost of operating and maintaining such building, any expenses incurred which are associated with issuance and sale of the bonds, including applicable fiscal agency charges, and the principal and interest and reserve fund requirements on the bonds issued hereunder. As principal and interest on such bonds become due from time to time, and not less than 15 days prior to the payment date thereof, there shall be transmitted to the paying agent for the bonds, money from the fund in an amount sufficient to pay the principal or interest so falling due. The fund and the money therein is hereby irrevocably pledged to such purposes.
(b) In the case of a building to be constructed for an institution under the control and supervision of the state board of regents for which the revenues derived from student fees are pledged to the payment of principal and interest on revenue bonds issued therefor, all revenues derived from such student fees shall be deposited monthly in a bank, banks or other depositories designated by the state board of regents and shall be applied solely to pay the reasonable cost of operating and maintaining such building, any expenses incurred which are associated with issuance and sale of the bonds, including applicable fiscal agency charges, and the principal and interest and reserve fund requirements on the bonds issued hereunder for the building. As principal and interest on such bonds become due from time to time, and not less than 15 days prior to the payment date thereof, there shall be transmitted to the paying agent for the bonds, money from the fund in an amount sufficient to pay the reasonable cost of operating and maintaining such building and the principal or interest so falling due. The fund and the money therein is hereby irrevocably pledged to such purposes.
History: L. 1947, ch. 435, § 9; L. 1985, ch. 300, § 5; 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.