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68-434. County authorized to pay state's share of cost of highway improvements; general obligation bonds. When the board of county commissioners of any county determines it is desirable to pay the state's share of the cost of highway improvement in such county, the board may issue general obligation bonds of the county for such purpose if authorized as provided in K.S.A. 68-435. The bonds shall be authorized, issued, registered and sold in the manner prescribed by the general bond law and shall bear interest at a rate not to exceed the maximum rate prescribed by K.S.A. 10-1009 and amendments thereto. General obligation bonds issued by a county under the authority of this section shall not be subject to any limitation on the bonded indebtedness of the county.

History: L. 1983, ch. 227, ยง 2; July 1.

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