Same; revenue bonds defined; recitals

12-1747. Same; revenue bonds defined; recitals. Revenue bonds, as the term is used in this act, are defined to be bonds issued by any such city or county to be paid exclusively from the revenue produced by the facilities purchased, acquired, constructed, reconstructed, improved, equipped, furnished, repaired, enlarged or remodeled by the proceeds of such revenue bonds. The revenue bonds shall not be general obligations of the city or county, and shall not contain the recitals set forth in K.S.A. 10-112, or any amendments thereto. The revenue bonds shall, however, contain the following recitals, viz.: Such bonds shall recite the authority under which such revenue bonds are issued, and that they are issued in conformity with the provisions, restrictions and limitations thereof, and that such bonds and the interest thereon are to be paid from the money and revenue received from the fees charged and rental received for the use of the property and facilities purchased, acquired, constructed, reconstructed, improved, equipped, furnished, repaired, enlarged or remodeled by the proceeds, in whole or in part, of such revenue bonds when issued and sold. History: L. 1961, ch. 81, § 8; L. 1981, ch. 74, § 14; July 1. Law Review and Bar Journal References: Constitutionality of ten year industrial revenue bond property taxation provision of K.S.A. 79-201a, 24 K.L.R. 723, 724 (1976). Attorney General's Opinions: Public building commission; acquisition of sites and facilities; home rule powers; bond issues. 94-45. CASE ANNOTATIONS 1. Applied in determining ordinances to implement issuance of bonds administrative; not subject to K.S.A. 12-3013. Rauh v. City of Hutchinson, 223 Kan. 514, 518, 575 P.2d 517. 2. Lease-purchase agreement under act not complete sale; filing requirements of UCC (Article 9) inapplicable. In re Petition of City of Moran, 238 Kan. 513, 520, 522, 713 P.2d 451 (1986). 3. Leases under act true leases, not mortgages, and therefore subject to assumption/rejection requirements of bankruptcy code. In re Petroleum Products, Inc., 72 B.R. 739, 743 (1987). 4. "United States Rule" providing for payment of accrued interest on defaulted revenue bonds before payment of principal indebtedness applied. In re Cherokee County Revenue Bonds, 262 Kan. 941, 950, 946 P.2d 83 (1997). Previous | Next LEGISLATIVE COORDINATING COUNCIL General Policies 2026 Archived LCC Documents Archived LCC Meetings REVISOR OF STATUTES Archived Session Documents Archived School Finance Documents USEFUL LINKS Session Laws Kansas Administrative Regulations OTHER LEGISLATIVE SITES Kansas Legislature Administrative Services Division of Post Audit Research Department Contact Us PDF Help www.ksrevisor.gov 2026