32-869. Resort bonds; amount of bonds authorized; payment.
154 words·~1 min read·
/ks/chapter-32/32-869A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
32-869. Resort bonds; amount of bonds authorized; payment. The Kansas development finance authority is hereby authorized to issue, pursuant to K.S.A. 32-857 through 32-864 , and amendments thereto, revenue bonds in an amount or amounts not to exceed $30,000,000 for any one resort. The proceeds from the sale of such bonds shall be used, together with any other funds available for such purpose, to construct and equip a resort on state-owned or leased property under the jurisdiction of the Kansas department of wildlife and parks.
The bonds, and interest thereon, issued pursuant to this section shall be payable by the private sector developer from revenues including, but not limited to, resort charges, rentals and fees, such payment to be in lieu of lease payments and shall never be deemed to be an obligation or indebtedness of the state within the meaning of article 11, section 6 of the constitution of the state of Kansas.