73-406. Same; tax levy without issuance of bonds, use of proceeds. If it shall be decided to pay for said memorial by taxation without the issuance of bonds, the board of county commissioners or governing body of such city, shall levy a tax of not more than two mills each year until the amount voted, including cost of site and expense of election, and to pay a portion of the principal and interest on bonds issued under the authority of K.S.A. 12-1774, and amendments thereto, by cities located in the county shall have been collected; but in no event shall the total amount collected for such purposes by taxation exceed two percent (2%) of the assessed valuation of each county or city, and the proceeds of such tax, except for an amount to pay a portion of the principal and interest on bonds issued under the authority of K.S.A. 12-1774, and amendments thereto, by cities located in the county, shall be used for the payment of such memorial, site and election expenses. No contract shall be entered into or the construction of such memorial commenced until at least twenty-five percent (25%) of the amount voted shall have been actually collected.
History: L. 1921, ch. 256, § 6; L. 1979, ch. 52, § 188; July 1.
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