Source: http://ksrevisor.org/statutes/chapters/ch82a/082a_006_0019.html
Timestamp: 2019-04-18 14:18:39+00:00

Document:
(h) acquire loans for the financing of up to 95% of the cost of the construction or purchase of any project or projects necessary to carry out the purposes for which such district was organized and to execute notes and mortgages in evidence thereof with interest, or combined interest and mortgage insurance charges, which shall not exceed 13%, except that for purposes of interim financing, interest or combined interest and mortgage insurance charges shall not exceed 14%. Any district shall have the same power to acquire loans or to issue revenue bonds pursuant to K.S.A. 82a-625, and amendments thereto, for the refinancing of up to 95% of the original cost of any such project or projects. The balance of the cost of construction shall be acquired by subscription, donation, gift or otherwise than through the medium of loans, except that in the case of cooperative corporations and corporations not-for-profit being converted to water districts as provided for in K.S.A. 82a-631 to 82a-635, inclusive, and amendments thereto, the district may assume 100% of the indebtedness of the corporation, providing the corporation originally raised at least 10% of the construction cost by means otherwise than through the medium of loans. Any such loan may be secured by any or all of the physical assets owned by the district, including easements and rights-of-way, except that no district organized under this act shall have any power or authority to levy any taxes.
History: L. 1957, ch. 540, § 8; L. 1959, ch. 415, § 1; L. 1963, ch. 512, § 4; L. 1974, ch. 449, § 1; L. 1976, ch. 438, § 1; L. 1980, ch. 331, § 4; L. 1981, ch. 396, § 1; L. 1982, ch. 435, § 1; L. 2002, ch. 137, § 2; L. 2012, ch. 29, § 2; July 1.

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