39-2926. Obligation; how paid; treatment.
156 words·~1 min read·
/ne/chapter-39/39-2926A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Each obligation that is issued by the investment program shall be a special, limited obligation that is payable solely from revenue, repayments, pledged receipts, or other legally available funds of the investment program, and shall not constitute a general obligation of the State of Nebraska or a pledge of the full faith and credit of the State of Nebraska.
(2)Each obligation shall bear a clear statement on its face that such obligation is a special, limited obligation that is payable solely from revenue, repayments, pledged receipts, or other legally available funds of the investment program, and shall not constitute a general obligation of the State of Nebraska or a pledge of the full faith and credit of the State of Nebraska.
(3)The holder of an obligation shall not have the right to compel the levy of any tax or compel any appropriation by the State of Nebraska for the payment of debt service.