Kansas § 42-388e Same; mortgage liens; pledge of revenue; depreciation fund; rates

Kansas Statutes

§ 42-388e — Same; mortgage liens; pledge of revenue; depreciation fund; rates

Kansas § 42-388e

Ch. 42IRRIGATION

Art. 3IRRIGATION AND IRRIGATION DISTRICTS

This text of Kansas § 42-388e (Same; mortgage liens; pledge of revenue; depreciation fund; rates) is published on Counsel Stack Legal Research, covering Kansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Kan. Stat. Ann. § 42-388e (2026).

Text

A statutory mortgage lien shall exist upon the property owned by the district, including said works, to secure the payment of said bonds and interest thereupon. The revenue derived from the rates charged by the district for the services performed and facilities furnished by it shall be pledged to secure the payment of such bonds and interest thereon, less a proper amount which shall be set aside to pay the expenses of operation and maintenance of said district and its works, and to provide an adequate depreciation fund. Such rates shall be sufficient to provide for such purposes.

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A statutory mortgage lien shall exist upon the property owned by the district, including said works, to secure the payment of said bonds and interest thereupon. The revenue derived from the rates charged by the district for the services performed and facilities furnished by it shall be pledged to secure the payment of such bonds and interest thereon, less a proper amount which shall be set aside to pay the expenses of operation and maintenance of said district and its works, and to provide an adequate depreciation fund. Such rates shall be sufficient to provide for such purposes.