Kansas Statutes 10-132. Used surplus proceeds of certain bond issues to purchase bonds
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Kansas Statutes 10-132
- Municipality: as used in this chapter and all acts amendatory thereto, unless otherwise expressed in such amendment, shall mean and include every corporation and quasi corporation empowered to issue bonds in payment of which taxes may be levied. See Kansas Statutes 10-101
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
The governing body of any municipality, as defined in Kan. Stat. Ann. § 10-101, which has heretofore voted or may hereafter vote bonds for any purpose, is hereby authorized and empowered to use any surplus portion of the proceeds of said bonds to purchase any of said bonds of such issue if such bonds may be purchased at par or less. All bonds so purchased shall be immediately canceled and the governing body of the municipality shall notify the state treasurer of such purchase and cancellation. Thereupon the state treasurer shall make the proper entries in the records of the state treasurer’s office to show such cancellation.