19-1301. Sinking funds; gifts; authority to receive; real estate; management.
148 words·~1 min read·
/ne/chapter-19/19-1301A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
All cities of the first class, cities of the second class, and villages are hereby empowered to receive money or property by donation, bequest, gift, devise, or otherwise for the benefit of any one or more of the public purposes for which sinking funds are established by sections 19-1301 to 19-1304 , as stipulated by the donor. Title to any money or property so donated shall vest in the city councils or village boards of trustees of such cities or villages, or in their successors in office, who shall become the owners thereof in trust to the uses of such sinking fund or funds.
In the event of a donation of real estate, such city councils or village boards of trustees may manage such real estate as in the case of real estate donated to their respective municipalities for municipal library purposes under sections 51-215 and 51-216 .