68-2076. Bonds payable from revenues and other funds; expenses. - Kansas Statutes

68-2076

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

      68-2076.   Bonds payable from revenues and other funds; expenses.Bonds issued under the provisions of this act shall not be deemed toconstitute a debt of the state or of any political subdivision thereof or apledge of the faith and credit of the state or of any such politicalsubdivision thereof, but all such bonds shall be payable solely from thefunds herein provided therefor from revenues and any payments to theauthority from the state highway fund provided to be made pursuant to theprovisions of this act and pledged for their payment. All such bonds shallcontain on the face thereof a statement to the effect that neither thestate nor the authority shall be obligated to pay the same or the interestthereon except from revenues of any project and any payments from the statehighway fund pledged to the payment of such bonds, and that the faith andcredit of the state are not pledged to the payment of the principal of orthe interest on such bonds.

      All expenses incurred in carrying out the provisions of this act shallbe payable solely from funds provided under the authority of this act andno liability or obligation shall be incurred by the authority hereunderbeyond the extent to which moneys shall have been provided under theprovisions of this act.

      History:   L. 1972, ch. 249, § 7; July 1.