Each applicant that desires to use STAR bonds to finance a
special bond project in Kansas shall apply to the secretary for a determination
that the project qualifies as a major commercial entertainment or tourism area.
If the project is to be located in a redevelopment district that is wholly
within a county but not within the geographic limits of an incorporated Kansas
city, then after the governing body of the county approves the creation of the
district, a city within the county shall agree by interlocal agreement to be
the county's sponsoring applicant.
(a) Each applicant shall provide the
secretary with a special bond project plan prepared pursuant to
K.S.A. 12-1780c, and amendments thereto. Each applicant shall also provide the
following:
(1) Documentation that the city
has met all resolution, hearing, and ordinance requirements;
(2) a statement on how the proposed project
meets the eligibility limitations on bond authority set forth in K.S.A. 12-1770a(g), and amendments thereto;
(3) a project budget; and
(4) any other relevant information required
by the secretary.
(b)
The summary of the feasibility study included as part of the special bond
project plan shall be prepared by an independent party with recognized
expertise in preparing this type of study and shall include the following:
(1) The information required by K.S.A. 12-1770a(k), and amendments thereto;
(2) a description of any project submitted
under K.S.A. 12-1771d, and amendments thereto, to satisfy the requirements of
K.S.A. 12-1770a(l), and amendments thereto;
(3) a statement of how the jobs and taxes
obtained from the project will contribute significantly to the economic
development of the state and region;
(4) a statement concerning whether a portion
of the sales taxes collected pursuant to
K.S.A. 12-187, and amendments thereto,
is committed to other uses and unavailable as revenue for the redevelopment
project. If a portion of sales taxes is so committed, the applicant shall
describe the following:
(A) The percentage of
sales taxes collected that is so committed; and
(B) the date or dates on which this diverted
revenue can be pledged for repayment of special obligation bonds;
(5) an anticipated principal and
interest payment schedule on the bonds; and
(6) a copy of the minutes of the governing
body meeting or meetings of any city whose bonding authority will be utilized
in the project, evidencing that a redevelopment plan has been created,
discussed, and adopted by the city in a regularly scheduled open public
meeting.
(c) If any of
the items specified in this regulation are not included, the applicant shall be
notified about the items or information required to be provided to the
secretary before the secretary will respond.
Notes
Kan. Admin. Regs. §
110-9-2
Authorized by K.S.A. 2005
Supp.
74-5002r; implementing K.S.A. 2005 Supp.
12-1770a, 12-1771d, 12-1780b,
12-1780c, and 74-5005; effective April 21, 2006.
