Brief (1)
HB 2662 amends the general bond law governing the issuance of municipal bonds to allow written bids for bonds sold at a public sale to be sent by telefacsimile or other electronic transmission.
Background
The bill was supported by the City of Wichita, Sedgwick County, and the League of Kansas Municipalities. A growing number of bond issuers have chosen to conduct electronic bidding for municipal bonds. Over the next several years, electronic bidding on municipal bonds is expected to become the norm.
The bill has no fiscal impact on the state. *Supplemental notes are prepared by the Legislative Research Department and do not express legislative intent. The supplemental note and fiscal note for this bill may be accessed on the Internet at http://www.ink.org/public/legislative/bill_search.html