Bonds; refunding indebtedness.

1. Law
2. Nebraska Revised Statutes
3. Cities of the First Class
4. Bonds; refunding indebtedness.

16-214. Bonds; refunding indebtedness.

A city of the first class by ordinance may provide for issuing bonds, for the purpose of funding any and all indebtedness of the city, due or to become due. Floating indebtedness shall be funded only by authority of a vote of the people, but the mayor and city council may by a two-thirds vote issue bonds to pay off any bonded debt without a vote of the people.

Source

• Laws 1901, c. 18, § 48, XVIII, p. 250;
• R.S.1913, § 4830;
• Laws 1919, c. 34, § 1, p. 112;
• C.S.1922, § 3998;
• C.S.1929, § 16-215;
• R.S.1943, § 16-214;
• Laws 1969, c. 51, § 26, p. 288;
• Laws 2016, LB704, § 22.

Annotations

• Strict compliance with all the prerequisites of the statute must be shown before mandamus will compel Auditor of Public Accounts to register a bond issue, and where notice of bond election was given for twenty days and statute requires four weeks, such notice is not sufficient. State ex rel. City of Fremont v. Babcock, 25 Neb. 500, 41 N.W. 450 (1889).

Download our app to see the most-to-date content.