24-518. Record of bonds; levy for interest and sinking fund. - Kansas Statutes

24-518

Chapter 24.--DRAINAGE AND LEVEES Article 5.--DRAINAGE IN VALLEY OF NATURAL WATERCOURSE

      24-518.   Record of bonds; levy for interest and sinking fund.A record shall be kept by the secretary of the board of directors of allbonds issued under this act, showing the date, number and amount thereof,and when the same become due, and it shall be the duty of theboard of directors to annually levy and certify to the clerk of each countyin which the drainage district is located a tax uponall of the lands and other real property in the county andwithin thedrainage district sufficient in amount to pay the interest on allbonds, and after 10 years from the date of issue,and each year thereafter, to provide a levy sufficient for the redemptionof maturing bonds. All special assessments for theredemption of bonds shall be levied against the property inproportion to the benefits derived from the improvements.

      History:   L. 1911, ch. 170, § 18; R.S. 1923, 24-518; L. 1983, ch.49, § 74; May 12.