2006 Kansas Code - 12-1780b

      12-1780b.   Special bond projects and major motorsports complexes; financing limitations; contractual relationship between city and building manager not deemed a lease to developer. (a) The governing body of a city may establish one or more special bond projects or major motorsports complexes in any area within such city or wholly outside the boundaries of such city. A special bond project or major motorsports complex wholly outside the boundaries of such city must be approved by the board of county commissioners through county resolution. The special bond projects or major motorsports complexes shall be eligible for financing by special obligation bonds payable from revenues described by subsection (a)(1)(D) or (a)(1)(G) of K.S.A. 12-1774, and amendments thereto. Each special bond project or major motorsports complex shall first be approved by the secretary, if the secretary determines that the proposed project or complex sufficiently promotes, stimulates and develops the general and economic welfare of the state as described in K.S.A. 12-1770. For a city proposing to finance a major motorsports complex pursuant to subsection (a)(1)(D) or (a)(1)(G) of K.S.A. 12-1774, and amendments thereto, the secretary of commerce, upon approving the project, may approve such financing in an amount not to exceed 50% of the redevelopment project costs. The secretary may approve a special bond project or major motorsports complex located in a redevelopment district established by a city prior to May 1, 2003. A special bond project or major motorsports complex shall not be granted to any business that proposes to relocate its business from another area of the state into such city, for the purpose of consideration for a special bond project or major motorsports complex and shall not receive any of the benefits provided by K.S.A. 12-1770 et seq., and amendments thereto. A special bond project or major motorsports complex shall not be approved by the secretary if the marketing study required by K.S.A. 2005 Supp. 12-1780c, and amendments thereto, indicates a substantial negative impact upon businesses in the project or complex market area or the granting of such project or complex would cause a default in the payment of any outstanding special obligation bonds payable from revenues authorized pursuant to subsection (a)(1)(D) or (a)(1)(G) of K.S.A. 12-1774, and amendments thereto.

      (b)   The maximum maturity of special obligation bonds payable primarily from revenues described by subsection (a)(1)(D) or (a)(1)(G) of K.S.A. 12-1774, and amendments thereto, to finance special bond projects or major motorsports complexes pursuant to this section shall not exceed 20 years.

      (c)   A city that owns a building or structure that was financed in whole or in part by special obligation bonds payable from revenues described in subsection (a)(1)(D) or (a)(1)(G) of K.S.A. 12-1774, and amendments thereto, may engage a manager to manage such building or structure. The contractual relationship between the city and the manager of such building or structure shall not be deemed a lease to a developer for purposes of paragraph (15) of subsection (q) of K.S.A. 12-1770a, and amendments thereto.

      History:   L. 2003, ch. 97, § 2; L. 2003, ch. 154, § 101; L. 2004, ch. 183, § 5; L. 2005, ch. 132, § 9; Apr. 21.