Kansas Statutes 12-1778. Object of taxes levied within redevelopment district
Terms Used In Kansas Statutes 12-1778
- City: means any city in Kansas. See Kansas Statutes 12-1795
- Cost: means : (1) Expenditures made for construction, engineering, architectural, technical and legal services, reports, property valuations, estimates, plans, specifications, notices, acquisition of real and personal property, consequential damages, easements, rights-of-way, supervision, inspection, testing, publications, printing and sale of bonds, interest on temporary notes, and provisions for land use planning, administrative expense and contingencies of the district; (2) maintenance expenses of improvements as defined in subsection (c) or (d); and (3) service as defined in subsection (e). See Kansas Statutes 12-1795
- District: means a self-supported municipal improvement district which may be created and the property taxed in accordance with this act and which is:
(1) Comprised of contiguous property wholly within the boundaries of the central business district of the city as such boundaries are determined by resolution adopted by the governing body of the city and none of which property is zoned for any use other than commercial or industrial;
(2) comprised, at a minimum, of an area equivalent to four square blocks excluding any public streets and rights-of-way; and
(3) given a descriptive name containing the words "self-supported municipal improvement district. See Kansas Statutes 12-1795
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Redevelopment district: means the specific area declared to be an eligible area in which the city may develop one or more redevelopment projects. See Kansas Statutes 12-1770a
- Redevelopment project: means the approved project to implement a project plan for the development of the established redevelopment district. See Kansas Statutes 12-1770a
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
- Tax increment: means that amount of real property taxes collected from real property located within the redevelopment district that is in excess of the amount of real property taxes which is collected from the base year assessed valuation. See Kansas Statutes 12-1770a
Notwithstanding any other provision of law, it is hereby stated that it is an object of all ad valorem taxes levied by or for the benefit of any city, county or school district of the state on taxable tangible real property located within any redevelopment district created pursuant to this act, that such taxes may be applied and allocated to and when collected paid into a special fund of a city pursuant to the procedures and limitations of this act to pay the cost of a project including principal of and interest on special obligation bonds or full faith and credit tax increment bonds issued by such city to finance, in whole or in part, such redevelopment project.