Kansas Statutes 74-8960. Financing for certain energy conservation measures
Terms Used In Kansas Statutes 74-8960
- Authority: means the Kansas development finance authority created by Kan. See Kansas Statutes 74-8902
- 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
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Facilities: means any real property, personal property or mixed property of any and every kind. See Kansas Statutes 74-8902
- Federal entity: means the government of the United States of America or any bureau, department, instrumentality or other agency of the federal government. See Kansas Statutes 74-8902
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- 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.
- Political subdivision: means political or taxing subdivisions of the state, including municipal and quasi-municipal corporations, boards, commissions, authorities, councils, committees, subcommittees and other subordinate groups or administrative units thereof, receiving or expending and supported, in whole or in part, by public funds and any municipality as defined in Kan. See Kansas Statutes 74-8902
- State: means the state of Kansas. See Kansas Statutes 74-8902
- State agency: means any office, department, board, commission, bureau, division, public corporation, agency or instrumentality of this state. See Kansas Statutes 74-8902
(a) The Kansas development finance authority is hereby authorized to issue revenue bonds in amounts sufficient to pay the costs of energy conservation measures, as defined in Kan. Stat. Ann. § 75-37,125, and amendments thereto, for or on behalf of federal entities for facilities located in the state, and to contract with federal entities with respect to such energy conservation measures and such revenue bonds. The bonds, and interest thereon, issued pursuant to this section shall be payable from: (1) Revenues derived from the use, lease, occupation or operation of the facilities for which such energy conservation measures are undertaken; (2) any other revenues, appropriations, grants or moneys of a federal entity available therefore; or (3) any combination thereof.
(b) The energy conservation measures, as defined in Kan. Stat. Ann. § 75-37,125, and amendments thereto, for political subdivisions or state agencies are hereby authorized to be financed by the Kansas development finance authority pursuant to subsection (a) of Kan. Stat. Ann. § 74-8905, and amendments thereto. The energy conservation measures for state facilities which are initiated by state agencies under Kan. Stat. Ann. § 75-37,125, and amendments thereto, are hereby approved for such state agencies for the purposes of subsection (b) of Kan. Stat. Ann. § 74-8905, and amendments thereto. The total costs of energy conservation measures for state facilities initiated by state agencies under Kan. Stat. Ann. § 75-37,125, and amendments thereto, for any fiscal year, exclusive of financing costs, shall not exceed the amounts approved for such energy conservation measures by the state corporation commission.
(c) Revenue bonds, including refunding revenue bonds, issued under this section shall not be an obligation of the state of Kansas and shall not constitute an indebtedness of the state of Kansas, nor shall they constitute indebtedness within the meaning of any constitutional or statutory provision limiting the incurring of indebtedness.
(d) Revenue bonds, including refunding revenue bonds, issued under this section and the income derived therefrom are and shall be exempt from all state, county and municipal taxation in the state of Kansas, except Kansas estate taxes.
(e) Any political subdivision, state agency or federal entity is authorized to contract or enter into a finance, pledge, loan or lease-purchase agreement with the Kansas development finance authority for an energy conservation measure, as defined in Kan. Stat. Ann. § 75-37,125, and amendments thereto, in order to facilitate the financing thereof or to provide security for the repayment of bonds authorized under this section.