24-624. Sale of bonds; use of proceeds; deposit of money. - Kansas Statutes

24-624

Chapter 24.--DRAINAGE AND LEVEES Article 6.--DRAINAGE IN ONE OR MORE COUNTIES

      24-624.   Sale of bonds; use of proceeds; deposit of money.The board may sell bonds from time to time in such quantities asmay be necessary and most advantageous, to raise money for the constructionof ditches and works and the acquisition of rights of way and propertyand otherwise to carry out the object and purpose of this act. Such bondsshall be sold as provided by law. The proceeds of the sale of such bonds orany of them, shall be used to pay for the works and improvements in thedrainage of the district, and such costs, expenses, fees and salaries asmay be authorized by law. The money derived from the sale of any bondsshall be deposited by the board of supervisors with some bank in any county inthe district under such conditions as theboard may prescribe and may be withdrawn from such depositary when orderedby the board on check or warrant signed by the chairperson andcountersigned by the secretary thereof. And such depositary shall executeand deliver to the board of supervisors of such drainage district abond with good and sufficient sureties to be approved by the board ofsupervisors, conditioned that such depositary shall account for, safelykeep and pay over as required by law and as ordered to do by the board ofsupervisors any and all money received by such depositary, on account, forthe drainage district.

      History:   R.S. 1923, 24-624; L. 1989, ch. 48, § 83; July 1.