39-860. Interstate county bridges; revenue bonds; interest; issuance; terms; form.
266 words·~1 min read·
/ne/chapter-39/39-860A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any county in the State of Nebraska is authorized to provide funds for the purposes of section 39-856 and for the purpose of providing interest on such bonds during construction, and for a period not to exceed two years after completion of any bridge, by the issuance of revenue bonds of such counties, the principal and interest of which shall be payable solely from the special funds herein provided for, and as to which, as shall be recited therein, the county shall not incur any indebtedness of any kind or nature, and the county shall not pledge its credit, its taxing power, or any part thereof to support or pay the same.
Such revenue bonds shall bear interest payable semiannually, shall mature in not more than forty years from their date or dates, and may be redeemable at the option of the county as provided by law. The governing body of the county shall provide the form of such bonds, including coupons to be attached thereto to evidence interest payments. The bonds shall be signed by the chairman of the board of county commissioners of the county, and countersigned and registered by the county clerk under the seal of the county.
The coupons shall bear the facsimile signatures of the chairman and county clerk. Such governing body shall fix the denomination or denominations of such bonds and the place of the payment of the principal and interest thereon, which may be at the office of the county treasurer or any bank or trust company in the State of Nebraska or in New York City, New York.