68-2071. Authorization of projects. In order to provide for the construction of modern express highways to link the principal population centers of the state with the major express highways in this and other states, including: (a) a modern express highway between the city of Wichita and the vicinity of Strother field, Cowley county, Kansas, and (b) a modern express highway between the vicinity of Strother field, Cowley county, Kansas, and a point on the Kansas-Oklahoma border where Oklahoma state highway No. 18 or such other highway as may be constructed by the state of Oklahoma intersects such boundary line for the purpose of providing a connection with the proposed Oklahoma expressway system terminating in the general area of the port of Catoosa, embodying, where feasible and necessary, safety devices, including center division, ample shoulder widths, long-sight distances, multiple lanes in each direction and grade separations at intersections with other highways and railroads, and thereby facilitate vehicular traffic, in the areas to be served, remove many of the present handicaps and hazards on the congested highways in the state, and promote the agricultural and industrial development of the state, the authority is hereby authorized and empowered to construct, maintain, repair and operate any highway project (as hereinbefore defined) including any one or more of the segments hereinbefore designated at such time or times as the authority may prescribe, and to issue any highway revenue bonds of the authority, payable solely from revenues and any payments to the authority from the state highway fund provided to be made pursuant to the provisions of this act, to finance the project. No highway project shall be undertaken unless and until such project and the proposed locations therefor have been thoroughly studied with respect to traffic, engineering, cost and financing nor unless such study shows: That adequate public funds for construction of free expressways on the routes to be served by such project are not available, and that the construction of such project can be financed wholly through the investment of private funds in highway revenue bonds issued under the provisions of this act; and that such project and indebtedness incurred therefor will be entirely self-liquidating through tolls and other income from operation of such project or projects but not including any amounts to be paid from the state highway fund as permitted by this act:Provided, In determining whether the project and indebtedness will be entirely self-liquidating it shall be proper to consider actual and anticipated tolls and other income from any other project or projects financed under this act and also any reserves which are or will be available from proceeds of the bonds or any other source: And provided further, Once the authority has determined that such study, or the study as amended and supplemented, shows that the provisions of this section are met, the project or projects shall be undertaken and bonds herein authorized shall be issued and the validity of the project or projects and the validity of the bonds shall not be affected by any question concerning the determination of the authority. |
