13-3308. Bonds; issuance; pledge of revenue; liability.
165 words·~1 min read·
/ne/chapter-13/13-3308A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)An inland port authority created under the Municipal Inland Port Authority Act may issue and sell revenue bonds necessary to provide sufficient funds for achieving its purposes, including the construction of intermodal facilities, buildings, and infrastructure and the financing of port improvement projects, except that such authority shall not issue or sell general obligation bonds. An inland port authority may pledge any revenue derived from the sale or lease of property of such authority to the payment of such revenue bonds.
(2)The State of Nebraska shall not be liable for any bonds of any inland port authority. Any such bonds shall not be a debt of the state and shall contain on the faces thereof a statement to such effect.
(3)No commissioner of any board of any inland port authority or any other authorized person executing inland port authority bonds shall be personally liable on such bonds or be subject to any personal liability or accountability by reason of the issuance thereof.