Kansas Statutes

Chapter 10: Bonds And Warrants

Article 10: Miscellaneous Provisions

Statutes:

• 10-1001: Bonds to be lien on realty.
• 10-1002: Change of boundary as affecting taxation to pay bonds previously issued.
• 10-1003: Property detached by such change.
• 10-1004: Taxes upon detached realty.
• 10-1005: Cancellation of bonds after final judgment.
• 10-1006: Sinking fund used to purchase bonds.
• 10-1007:
• 10-1007a: Annual statement of indebtedness of municipality to county clerk; contents.
• 10-1008: Bonds as claim against property.
• 10-1009: Municipal bonds or obligations; interest rates; limitation.
• 10-1010: Certain terms construed to mean "state treasurer."

• 10-1001: Bonds to be lien on realty. All bonds heretofore or hereafter legally authorized and issued by a vote of its electors in any county or township, shall become and be a lien upon all the real estate in such county or township for the payment of the principal and interest of said bonds.

        History:   L. 1873, ch. 142, § 1; March 20; R.S. 1923, § 10-1001.

• 10-1002: Change of boundary as affecting taxation to pay bonds previously issued. No person or property hereafter attached by a change of boundary lines to any county or township wherein any bonds previously authorized by a vote of the electors of such county or township shall have been, previous to such change of boundary lines, legally issued, shall be subject to taxation for the payment of the principal or interest of such bonds.

        History:   L. 1873, ch. 142, § 2; March 20; R.S. 1923, § 10-1002.

• 10-1003: Property detached by such change. All real estate heretofore or hereafter detached by a change of boundary lines from any county or township wherein any bonds shall have been previous to such change of boundary lines, legally authorized and issued by a vote of the electors of such county or township, shall be subject to taxation for the payment of such bonds and the interest thereon, in the same manner as though no such change of boundary lines had been made.

        History:   L. 1873, ch. 142, § 3; March 20; R.S. 1923, § 10-1003.

• 10-1004: Taxes upon detached realty. It shall be the duty of the county clerk of every county from which any real estate shall be detached, as soon as it shall be determined, to certify to the county clerk of any county to which any such real estate shall have been attached, the per centum of tax to be levied for the payment of any bonds or interest thereon issued, as in the last section described, and such tax shall be levied and collected by such last-mentioned county from the real estate so attached thereto, the same as other taxes, and when collected, shall be paid over to the county treasurer of the county to which such taxes belong.

        History:   L. 1873, ch. 142, § 4; March 20; R.S. 1923, § 10-1004.

• 10-1005: Cancellation of bonds after final judgment. All county, township and municipal bonds on which final judgment shall hereafter be rendered by any court of record in this state, shall be canceled in open court, and returned by the clerk of such court to the clerk of the proper county, city or township.

        History:   L. 1877, ch. 45, § 1; March 10; R.S. 1923, § 10-1005.

• 10-1006: Sinking fund used to purchase bonds. Whenever any county, city, township or school district in this state shall owe any outstanding and unmatured bonds, and at the same time shall have in its treasury any sinking funds raised to pay such bonds, the proper officers of such county, city, township or school district may use such funds to purchase or pay any of such bonds and cancel the same, whenever they can be so purchased or paid at or below par, or at such reasonable price above par as may be requested by a majority of the resident taxpayers of such county, city, township or school district, and which request may be made by a written petition to that effect, directed to such officers.

        History:   L. 1905, ch. 72, § 1; March 21; R.S. 1923, § 10-1006.

• 10-1007:

        History:   L. 1877, ch. 90, § 1; R.S. 1923, § 10-1007; Repealed, L. 1974, ch. 45, § 14; Jan. 13, 1975.

• 10-1007a: Annual statement of indebtedness of municipality to county clerk; contents. (a) The clerk, secretary or other recording officer of each municipality shall furnish, on or before July 5 of each year, to the county clerk a statement of the indebtedness of the municipality for the preceding year ending on June 30. For school districts such statement shall be furnished to the county clerk of the home county, and for other municipalities which extend into more than one county, such statement shall be furnished to the county clerk of the county in which the greatest amount of the territory of the municipality is located unless a different county clerk is specified by the state treasurer. Such statement shall show the following:

        (1)   The amount of its bonded indebtedness, with the date of issue and date of maturity of all outstanding bonds, and specification as to each whether it is a general obligation bond or revenue bond, including industrial revenue bonds, and the statutory authority under which each was issued.

        (2)   The amount of temporary notes outstanding with the date of issuing and date of maturity thereof, together with the statutory authority under which the same were issued.

        (3)   The amount of no-fund warrants outstanding and the date of maturity thereof, together with the statutory authority under which the same were issued.

        (b)   On or before July 15 of each year, the county clerk of each county shall compile, on forms prescribed by the state treasurer, the information on the statements furnished under subsection (a), including such information as to the county, and transmit the same to the state treasurer.

        History:   L. 1974, ch. 45, § 12; Jan. 13, 1975.

• 10-1008: Bonds as claim against property. All bonds that have heretofore been or may hereafter be legally authorized and issued by a vote of the electors in any township in this state shall be a claim against all the property, personal and real, in said township, for the payment of the principal and interest of said bonds, and shall be a claim upon all the taxable property, personal and real, contained within the boundaries of such township at the date of the voting of such bonds, whether the same be now part of such township or detached therefrom.

        History:   L. 1883, ch. 147, § 1; March 10; R.S. 1923, § 10-1008.

• 10-1009: Municipal bonds or obligations; interest rates; limitation. (a) The maximum stated rate of interest which may be fixed on fixed-rate bonds issued by a municipality or taxing subdivision of the state of Kansas shall be determined on the day the bonds are sold and shall not exceed the daily yield for the ten-year treasury bonds published by The Bond Buyer, in New York, New York, on the Monday next preceding the day on which the bonds are sold, plus (1) three percent, if the interest on the bonds is excluded from gross income for federal income tax purposes or (2) four percent, if the interest on the bonds is included in gross income for federal income tax purposes.

        (b)   The maximum stated rate of interest which may be fixed on variable-rate bonds issued by a municipality or taxing subdivision of the state of Kansas shall be determined on the date on which the rate is determined in accordance with the resolution or ordinance of the issuer and shall not exceed the daily yield for the ten-year treasury bonds published by The Bond Buyer, in New York, New York, on the Monday next preceding such date, plus (1) three percent, if the interest on the bonds is excluded from gross income for federal income tax purposes or (2) four percent, if the interest on the bonds is included in gross income for federal income tax purposes.

        (c)   Except as provided for variable rate bonds, the maximum rate of interest specified in this section shall be applicable to bonds issued after the effective date of this act. The maximum rate of interest on variable rate bonds issued prior to the effective date of this act shall be the higher of (1) the maximum rate of interest specified by subsection (a) or (b) of this section, as in effect prior to the effective date of this act, (2) the maximum rate of interest specified in this section or (3) the rate for such variable rate bonds specified in the documents authorizing the issuance thereof.

        History:   L. 1970, ch. 64, § 104; L. 1975, ch. 48, § 1; L. 1980, ch. 55, § 1; L. 1982, ch. 54, § 1; L. 1987, ch. 60, § 6; L. 1988, ch. 65, § 2; L. 1990, ch. 63, § 1; L. 1993, ch. 67, § 2; L. 1994, ch. 103, § 2; L. 2002, ch. 75, § 1; Apr. 25.

• 10-1010: Certain terms construed to mean "state treasurer." Whenever in the statutes of this state the words "state auditor" or "auditor of state," or words of like effect, occur, and the statute relates to general obligation or revenue bonds or to temporary notes, such words shall mean "state treasurer."

        History:   L. 1974, ch. 45, § 13; Jan. 13, 1975.