Kansas Statutes 74-8923. Same; use of bond proceeds and funds from other authorized sources
Terms Used In Kansas Statutes 74-8923
- Authority: means the Kansas development finance authority created by Kan. See Kansas Statutes 74-8902
- Board: means the board of trustees of Kansas City Kansas community college;
(2) "foundation" means the Kansas multi-sport and recreation foundation;
(3) "increment" means that amount of state and local sales tax revenue imposed pursuant to Kan. See Kansas Statutes 74-8936
- Bonds: means any bonds, notes, debentures, interim certificates, grant and revenue anticipation notes, interest in a lease, lease certificate of participation or other evidences of indebtedness, whether or not the interest on which is subject to federal income taxation, issued by the authority pursuant to this act. See Kansas Statutes 74-8902
- project: means the construction of a multi-sport athletic complex and the improvement of facilities within the project area; and
(5) "project area" means the boundaries of the area in which the project will be undertaken as described by the board, but shall not include the boundaries of any redevelopment district in a major tourism area which includes an auto race track facility located in Wyandotte county as follows: Beginning at the intersection of Interstate 70 and Interstate 435; west along Interstate 70 to 118th Street; north along 118th Street to State Avenue; northeasterly along proposed relocated State Avenue to 110th Street; north along 110th Street to Parallel Parkway; east along Parallel Parkway to Interstate 435; South along Interstate 435 to Interstate 70. See Kansas Statutes 74-8936
- State: means the state of Kansas. See Kansas Statutes 74-8902
The authority may use the proceeds of bonds issued pursuant to subsection (e) of Kan. Stat. Ann. § 74-8905, and amendments thereto, or upon approval by the board of county commissioners or other taxing subdivision in which the redevelopment district is located any uncommitted funds derived from those sources set forth in Kan. Stat. Ann. § 74-8924, and amendments thereto, or other funds pledged for the payment of such bonds to implement the redevelopment plan to the extent authorized in the redevelopment plan implementation agreement adopted pursuant to Kan. Stat. Ann. § 74-8921, and amendments thereto. Any excess revenue from sources set forth in Kan. Stat. Ann. § 74-8927, and amendments thereto, other than any revenues pledged from private sources which the authority has agreed in the redevelopment implementation agreement to such sources not otherwise needed or committed for the repayment of bonds or other project costs authorized in the agreement shall upon approval by the authority be paid out by the state treasurer proportionately to the appropriate taxing authorities.