SB7

Kansas SB7 increases the statutory limits on bonds issued by townships based on population and purpose.

Kansas SB7 amends the bonding authority of townships, allowing them to issue more bonds based on their population and the purpose of the bond issuance. For townships with populations up to 5,000, the limit is 5% of the assessed tangible valuation for general obligation bonds and 1% for township buildings. For townships with populations between 5,000 and 10,000, the limit is 5% for general obligation bonds. For townships with populations over 10,000, the limit is 10% for general obligation bonds. The bonds must be issued after an election and are a lien on all taxable property in the township.