CHAPTER 48 HOUSE BILL No. 2185 An Act concerning improvement districts; concerning the issuance of revenue bonds;
amending K.S.A. 19-2777 and repealing the existing section. Be it enacted by the Legislature of the State of Kansas:

      Section  1. K.S.A. 19-2777 is hereby amended to read as follows: 19-
2777. (a) Except as provided by subsection (b), any revenue bonds issued
under the provisions of this act K.S.A. 19-2776, and amendments thereto,
shall mature serially or otherwise: Provided, That all of said. Such bonds
shall mature within a maximum period of thirty (30) 30 years from the
date of issue issuance and shall bear interest at a rate not to exceed the
maximum rate of interest prescribed by K.S.A. 10-1009, and amendments
thereto.

      (b) Any revenue bonds issued under the provisions of K.S.A. 19-2776,
and amendments thereto, and sold, pursuant to written agreement, to the
government of the United States of America or any bureau, department,
instrumentality or agency thereof, shall be issued to mature in not more
than 40 years and shall bear interest at a rate not to exceed the maximum
rate prescribed by K.S.A. 10-1009, and amendments thereto, payable at
such times fixed by the board of directors of the improvement district
issuing the same. The bonds shall mature serially or otherwise, may be in
coupon or registered form and interchangeable, and shall have such other
terms and provisions as the board of directors of the improvement district
provides by resolution or trust agreement.

 Sec.  2. K.S.A. 19-2777 is hereby repealed.
 Sec.  3. This act shall take effect and be in force from and after its
publication in the Kansas register.

Approved March 28, 2001.
 Published in the Kansas Register April 5, 2001.
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