14-1225. Bridges; state and political subdivisions; competing bridges; limitations upon, for protection of bondholders.
91 words·~1 min read·
/ne/chapter-14/14-1225A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Neither the State of Nebraska nor any political subdivision thereof shall:
(1)Limit or restrict the rights and powers granted in sections 14-1201 to 14-1252 to the detriment of owners of outstanding bonds; or
(2)Authorize the construction or itself construct any competing bridge within a distance of one mile on either side of the bridge unless and until all of such bonds, together with the interest on such bonds, have been fully paid and canceled, unless other adequate provisions have been made for the protection and guaranty of such bonds.