68-437. City authorized to pay state's share of cost of highway improvements; general obligation bonds. - Kansas Statutes

68-437

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

      68-437.   City authorized to pay state's share of cost of highwayimprovements; general obligation bonds.When the governing body of any city determinesit is desirable to pay the state's share of the cost of highway improvementin such city, the governing body may issue general obligation bonds of thecity in the manner provided by K.S.A. 68-438. 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 city under the authority of this sectionshall not be subject to any limitation on the bonded indebtedness of the city.

      History:   L. 1985, ch. 232, § 1; July 1.