(a) Any bonds issued by the authority under subsection (f) of K.S.A. 74-8905, and amendments thereto, to finance the undertaking of the project in accordance with the provisions of this act, shall be made payable, both as to principal and interest:
- (1) from revenues of the college or the foundation derived from or held in connection with the undertaking and carrying out of any redevelopment plan under this act;
- (2) from any private sources, contributions or other financial assistance from the state or federal government;
- (3) from sales tax increments from any sales taxes collected within the boundaries of the project area as described by the resolution of the board of trustees; or
- (4) by any combination of these methods.
- (b) Such revenue may be pledged to the repayment of such bonds prior to, simultaneously with or subsequent to the issuance of such bonds.
- (c) No funds derived from student tuition shall be used to pay the principal or interest on bonds issued by the authority under subsection (f) of K.S.A. 74-8905, and amendments thereto.
L. 2000, ch. 176, § 3; May 25.