39-2201. Terms, defined.
443 words·~2 min read·
/ne/chapter-39/39-2201A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
As used in the Nebraska Highway Bond Act, unless the context otherwise requires:
(1)Bond fund shall mean the Highway Restoration and Improvement Bond Fund created in section 39-2215.01 ;
(2)Bonds shall mean the bonds authorized to be issued under the Nebraska Highway Bond Act and shall include notes or other similar evidences of indebtedness;
(3)Commission shall mean the State Highway Commission;
(4)Construction shall mean and include acquisition, construction, resurfacing, restoring, rehabilitation, and reconstruction necessary to plan, build, improve, replace, or extend a highway, and to construct shall mean and include to acquire, to construct, to resurface, to restore, to rehabilitate, and to reconstruct as necessary to plan, build, improve, replace, or extend a highway;
(5)Cost of construction shall mean and include obligations to contractors and builders for construction and for the restoration of property damaged or destroyed in connection with such construction, the cost of acquiring land, property rights, rights-of-way, franchises, easements, and other interests deemed necessary or convenient for construction, the cost of acquiring any property, real or personal, tangible or intangible, or any interest therein, deemed necessary or convenient for construction, the interest requirements upon any bonds prior to, during, and for a period of eighteen months after completion of construction, fees and expenses of paying agents and other agents appointed by the commission for such bonds during any such period, the costs and expenses of preliminary investigations to determine the feasibility or practicability of such construction, the fees and expenses of engineers for making preliminary studies, surveys, reports, estimates of costs and of revenue, and other estimates and for preparing plans and specifications and supervising construction as well as for the performance of all other duties of engineers in relation to such construction or the issuance of bonds therefor, expenses of administration during construction, legal expenses and fees, financing charges, municipal bond insurance or surety bond premiums, credit facility fees, costs of audits, costs of preparing and issuing such bonds, and all other items of expense incident to such construction, the financing thereof, and the acquisition of land and property therefor;
(6)Fund shall mean the Highway Trust Fund which is created by section 39-2215 ; and
(7)Highway shall mean and include any public road now or at any time hereafter classified by the Legislature as the responsibility of the state to construct and any related facility, the cost of which is financed in whole or in part by the issuance of bonds under the Nebraska Highway Bond Act.
The Legislature hereby reserves the right to vary and change by law the definitions of construction, cost of construction, and highway contained in this section.