12-8,101. Same; not subject to general bond law; exempt from taxation, exception; negotiable instruments. - Kansas Statutes

12-8,101

Chapter 12.--CITIES AND MUNICIPALITIES Article 8.--PUBLIC UTILITIES

      12-8,101.   Same; not subject to general bond law; exempt from taxation, exception; negotiable instruments. (a) Any bonds issued under the provisions of this act shall not be subject to the general bond laws of the state of Kansas.

      (b)   All bonds issued in accordance with the provisions of this act and all income or interest therefrom shall be exempt from all state taxes except inheritance taxes.

      (c)   All bonds issued under the provisions of this act shall be negotiable instruments under the provisions of the uniform commercial code of the state of Kansas.

      History:   L. 1977, ch. 48, § 17; July 1.