68-2016. Turnpike revenue refunding bonds, when. - Kansas Statutes

68-2016

Chapter 68.--ROADS AND BRIDGES PART III.--MISCELLANEOUS Article 20.--TOLL ROADS OR TURNPIKES

      68-2016.   Turnpike revenue refunding bonds, when.The authority is hereby authorized to provide by resolution for theissuance of turnpike revenue refunding bonds of the authority for thepurpose of refunding any bonds then outstanding which shall have beenissued under the provisions of this act, including the payment of anyredemption premium thereon and any interest accrued or to accrue to thedate of redemption of such bonds, and, if deemed advisable by theauthority, for the additional purpose of constructing improvements,extensions, or enlargements of the turnpike project or projects inconnection with which the bonds to be refunded shall have been issued. Theauthority is further authorized to provide by resolution for the issuanceof its turnpike revenue bonds for the combined purpose of (a) refunding anybonds then outstanding which shall have been issued under the provisions ofthis act, including the payment of any redemption premium thereon and anyinterest accrued or to accrue to the date of redemption of such bonds, and(b) paying all or any part of the cost of any additional turnpike projector projects. The issuance of such bonds, the maturities and other detailsthereof, the rights of the holders thereof, and the rights, duties andobligations of the authority in respect of the same, shall be governed bythe provisions of this act insofar as the same may be applicable.

      History:   L. 1953, ch. 308, § 16; April 7.