Kansas § 74-8965 Same; no pledge of state's full faith and credit or taxing power; obligations on bonds not considered a debt

Kansas Statutes

§ 74-8965 — Same; no pledge of state's full faith and credit or taxing power; obligations on bonds not considered a debt

Kansas·Ch. 74 STATE BOARDS, COMMISSIONS AND AUTHORITIES·Art. 89 DEVELOPMENT FINANCE AUTHORITY

Neither the state nor the department of administration shall have the power to pledge the full faith and credit or taxing power of the state for debt service on any bonds issued pursuant to K.S.A. 74-8963, and amendments thereto, and any payment by the department for such purpose shall be subject to and dependent on appropriations by the legislature. Any obligation of the state or the department for payment of debt service on bonds issued pursuant to K.S.A. 74-8963, and amendments thereto, shall not be considered a debt or obligation of the state for the purpose of section 6 of article 11 of the Kansas constitution.

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Neither the state nor the department of administration shall have the power to pledge the full faith and credit or taxing power of the state for debt service on any bonds issued pursuant to K.S.A. 74-8963, and amendments thereto, and any payment by the department for such purpose shall be subject to and dependent on appropriations by the legislature. Any obligation of the state or the department for payment of debt service on bonds issued pursuant to K.S.A. 74-8963, and amendments thereto, shall not be considered a debt or obligation of the state for the purpose of section 6 of article 11 of the Kansas constitution.

Kansas § 74-8965 (Same; no pledge of state's full faith and credit or taxing power; obligations on bonds not considered a debt) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.