Kansas Statutes 68-151g. Counties with assessed valuation under $50,000,000; bonds for constructing or improving county roads and bridges; election; tax levy
Terms Used In Kansas Statutes 68-151g
- Board: means the board of county commissioners of counties such as defined in subsection (b) hereof;
(b) "county" means any county in which there is located any land which has been or is to be inundated as a result of the construction of any dam or reservoir by the federal government or in which there is any land which is within the "take line" of any such reservoir, and in which as a result of such construction any county road or bridge has been or is to be abandoned or relocated or is to be constructed or reconstructed on the same or another site or right of way;
(c) "federal government" shall mean the government of the United States or any agency, department or officer thereof. See Kansas Statutes 68-151m
- 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.
- Property: includes personal and real property. See Kansas Statutes 77-201
The board of county commissioners of any county having a total assessed tangible valuation of less than fifty million dollars ($50,000,000) is hereby authorized and empowered, upon compliance with all the provisions of this act, to issue general obligation bonds of such county in a total amount not exceeding an amount equal to two percent (2%) of the total assessed tangible valuation of such county for the purpose of providing funds to pay the cost of constructing, reconstructing, repairing, altering and improving county roads and bridges including engineering costs in connection therewith.
No bonds shall be issued under the provisions of this act unless and until the question of the issuance of the same, including the total amount thereof, shall have been submitted to the qualified electors of such county at a regular election or at a special election called for that purpose and at least a majority of the legal votes cast at such election shall have been cast in favor of the issuance thereof.
All bonds issued under the provision of this act, shall be serial bonds, payable in approximately equal annual installments over a period of not to exceed thirty (30) years, and shall bear interest at a rate not to exceed the maximum rate of interest prescribed by Kan. Stat. Ann. §§ 10-1009 and the board of county commissioners shall make an annual tax levy on all the taxable tangible property in such county to pay the principal and interest on said bonds as the same becomes due and payable. Such election shall be called, held and conducted and the bonds issued, sold, delivered and retired in accordance with the provisions of the general bond law except as herein otherwise expressly provided.