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12-1744. Same; pledge of facility and earnings. The governing body of the city by ordinance or the board of county commissioners by resolution may pledge the facility and the net earnings therefrom to the payment of the revenue bonds and the interest thereon, and may provide that the net earnings thereof shall be set apart as a sinking fund for that purpose.

History: L. 1961, ch. 81, § 5; L. 1981, ch. 74, § 8; July 1.

Attorney General's Opinions:

Cities and municipalities — buildings, structures and grounds — industrial revenue bonds. 81-4.

CASE ANNOTATIONS

1. Act does not contravene various provisions of Kansas constitution and bill of rights. State, ex rel., v. City of Pittsburg, 188 Kan. 612, 613, 614, 615, 619, 620, 621, 364 P.2d 71.

2. 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.

3. Lease-purchase agreement under act not complete sale; filing requirements of UCC (article 9) inapplicable. In re Petition of City of Moran, 238 Kan. 513, 520, 522, 713 P.2d 451 (1986).

4. Mentioned; city's letter of intent to issue industrial bonds and abatement void for failure to notify school district. Genesis Health Club, Inc. v. City of Wichita, 285 Kan. 1021, 1038, 1039, 1040, 181 P.3d 549 (2008).


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