12-1747.
Same; revenue bonds defined; recitals.
Revenue bonds, as the term is used in this act, are defined to be bonds issued by any such city or county to be paid exclusively from the revenue produced by the facilities purchased, acquired, constructed, reconstructed, improved, equipped, furnished, repaired, enlarged or remodeled by the proceeds of such revenue bonds. The revenue bonds shall not be general obligations of the city or county, and shall not contain the recitals set forth in K.S.A. 10-112, or any amendments thereto. The revenue bonds shall, however, contain the following recitals, viz.: Such bonds shall recite the authority under which such revenue bonds are issued, and that they are issued in conformity with the provisions, restrictions and limitations thereof, and that such bonds and the interest thereon are to be paid from the money and revenue received from the fees charged and rental received for the use of the property and facilities purchased, acquired, constructed, reconstructed, improved, equipped, furnished, repaired, enlarged or remodeled by the proceeds, in whole or in part, of such revenue bonds when issued and sold.
History:
L. 1961, ch. 81, § 8; L. 1981, ch. 74, § 14; July 1.
Notes of Decisions
In Re Cherokee Cnty., Kansas Health Care Facility Revenue Bonds, 946 P.2d 83 (Kan. 1997).
· cites it 2× “In K.S.A. 12-1747, the legislature defined "revenue bond" as follows: "Revenue bonds, as the term is used in this act, are defined to be bonds issued by any such city or county to be paid exclusively from the revenue produced by the facilties purchased, acquired, constructed,…”
In Re Petition of City of Moran, 713 P.2d 451 (Kan. 1986).
“K.S.A. 12-1747. The Bank states that to protect creditors from fraudulent transactions by the lessee having possession of the lessor’s property, the lease-purchase agreement entered into by the City and the Cooperative must be considered as an installment contract subject to the…”
Rauh v. City of Hutchinson, 575 P.2d 517 (Kan. 1978).
“K.S.A. 12-1747 defines the term revenue bonds, provides again that they shall not be general obligations of the city, shall not contain the recitals set forth in K.”
In Re Petroleum Prods., Inc., 72 B.R. 739 (Bankr. D. Kan. 1987).
“K.S.A. 12-1747. Any city in Kansas, which issues IRBs by exercising the powers granted through the Kansas Economic Development Revenue Bond Act, does so for a unique purpose: to promote the “economic prosperity” of Kansas, and to “promote economic stability.”
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