2006 Nebraska Revised Statutes - § 17-153 — Sewerage system; bonds; sinking funds; investment.

Section 17-153
Sewerage system; bonds; sinking funds; investment.

All taxes levied for the purpose of raising money to pay the interest or to create a sinking fund for the payment of the bonds provided for in section 17-925, shall be payable in money only; and, except as herein otherwise provided, no money so obtained shall be used for any other purpose than the payment of the interest or debt for the payment of which they shall have been raised; PROVIDED, such sinking fund may, under the direction of the mayor and council, be invested in any of the underdue bonds issued by such city; PROVIDED, they can be procured by the treasurer at such rate of premium as shall be prescribed by ordinance. Any due or overdue bond or coupon shall be a sufficient warrant or order for the payment of the same by the treasurer, out of any fund specially created for that purpose, without any further order or allowance by the mayor and council.

Source:

Laws 1903, c. 22, § 8, p. 258

R.S.1913, § 5047

C.S.1922, § 4216

C.S.1929, § 17-155

~Reissue Revised Statutes of Nebraska