13-3112. Same; payment of bonds; pledges. - Kansas Statutes

13-3112

Chapter 13.--CITIES OF THE FIRST CLASS PART II.--COMMISSION GOVERNMENT Part II.--COMMISSION GOVERNMENT Article 31.--PUBLIC TRANSPORTATION

      13-3112.   Same; payment of bonds; pledges. Any such bonds shall be payable solely and only from a pledge of the net income derived by the municipality from the transit system financed with the proceeds of such bonds and other transit facilities not so financed, but any such city may also pledge to levy an ad valorem tax of not to exceed two (2) mills and to employ such tax for so long as any such bonds remain outstanding and unpaid. Any such city may also provide that contributions, grants, or other financial assistance from the state or federal governments or any other source shall be employed in the operation of the transit system so long as any such bonds remain outstanding.

      History:   L. 1965, ch. 123, § 12; L. 1975, ch. 111, § 1; L. 1975, ch. 112, § 1; July 1.