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Code · Nebraska · Chapter 21 — Corporations and Other Companies

21-2312. Local political subdivision; liability; exempt.

77 words·~1 min read·/ne/chapter-21/21-2312

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The local political subdivision shall not be liable for the payment of the principal of or interest on any bonds of the corporation or for the performance of any pledge, mortgage, obligation, or agreement of any kind undertaken by the corporation, and none of the bonds of the corporation or any of its agreements or obligations shall be construed to constitute an indebtedness of the local political subdivision within the meaning of any constitutional or statutory provision.
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