68-434. County authorized to pay state's share of cost of highway improvements; general obligation bonds. - Kansas Statutes

68-434

Chapter 68.--ROADS AND BRIDGES PART I.--ROADS Article 4.--STATE HIGHWAYS

      68-434.   County authorized to pay state's share of cost of highway improvements;general obligation bonds.When the board of county commissioners of any county determinesit is desirable to pay the state's share of the cost of highway improvementin such county, the board may issue general obligation bonds of the county for suchpurpose if authorized as provided in K.S.A. 68-435. The bondsshall be authorized, issued, registered and sold in the manner prescribedby the general bond law and shall bear interest at a rate not to exceedthe maximum rate prescribed by K.S.A. 10-1009 and amendments thereto. Generalobligation bonds issued by a county under the authority of this sectionshall not be subject to any limitation on the bonded indebtedness of the county.

      History:   L. 1983, ch. 227, § 2; July 1.