Printable Format12-1746. Same; bonds and income therefrom exempt from taxation. All revenue bonds issued by cities or counties pursuant to this act and all income or interest therefrom shall be exempt from all state taxes.
History: L. 1961, ch. 81, § 7; L. 1981, ch. 74, § 13; L. 2010, ch. 44, § 6; July 1.
Law Review and Bar Journal References:
Cited in discussion of statutory tax exemptions, Donald L. Cordes, 17 K.L.R. 147, 158 (1968).
CASE ANNOTATIONS
1. Applied in determining ordinances to implement issuance of bonds administrative; not subject to K.S.A. 12-3013. Rauh v. City of Hutchinson, 223 Kan. 514, 518, 575 P.2d 517.
2. Cited; challenge to mortgage registration fees on IRB leases permitted pursuant to K.S.A. 79-2005. City of Lenexa v. Board of Johnson County Comm'rs, 237 Kan. 782, 784, 703 P.2d 800 (1985).
3. Leases under act true leases, not mortgages, and therefore subject to assumption/rejection requirements of bankruptcy code. In re Petroleum Products, Inc., 72 B.R. 739, 743 (1987).
4. Trust indenture issued pursuant to industrial revenue bond issue as mortgage subject to mortgage registration fee (K.S.A. 79-3101, 79-3102) examined. Mid-Central v. Board of Tax Appeals, 13 Kan. App. 2d 509, 517, 774 P.2d 363 (1989).