Statutes > Kansas Statutes > Chapter 68 ROADS AND BRIDGES > Article 1 GENERAL PROVISIONS > 68-151g. Counties with assessed valuation under $50,000,000; bonds for constructing or improving county roads and bridges; election; tax levy.

68-151g. Counties with assessed valuation under $50,000,000; bonds for constructing or improving county roads and bridges; election; tax levy.

68-151g

Chapter 68.--ROADS AND BRIDGES
PART I.--ROADS
Article 1.--GENERAL PROVISIONS

      68-151g.   Counties with assessed valuation under $50,000,000; bonds forconstructing or improving county roads and bridges; election; tax levy.The board of county commissioners of any county having a total assessedtangible valuation of less than fifty million dollars ($50,000,000) ishereby authorized and empowered, upon compliance with all the provisionsof this act, to issue general obligation bonds of such county in a totalamount not exceeding an amount equal to two percent (2%) of the totalassessed tangible valuation of such county for the purpose of providingfunds to pay the cost of constructing, reconstructing, repairing,altering and improving county roads and bridges including engineeringcosts in connection therewith.

      No bonds shall be issued under the provisions of this act unless anduntil the question of the issuance of the same, including the totalamount thereof, shall have been submitted to the qualified electors ofsuch county at a regular election or at a special election called forthat purpose and at least a majority of the legal votes cast at suchelection shall have been cast in favor of the issuance thereof.

      All bonds issued under the provision of this act, shall be serialbonds, payable in approximately equal annualinstallments over a period of not to exceed thirty (30) years, and shallbear interest at a rate not to exceed themaximum rate of interest prescribed by K.S.A. 10-1009 and theboard of county commissioners shall make an annual tax levy on all thetaxable tangible property in such county to pay the principal andinterest on said bonds as the same becomes due and payable. Suchelection shall be called, held and conducted and the bonds issued, sold,delivered and retired in accordance with the provisions of the generalbond law except as herein otherwise expressly provided.

      History:   L. 1945, ch. 276, § 1; L. 1970, ch. 64, § 78; L. 1973,ch. 263, § 1; L. 1978, ch. 99, § 34; April 25.