2006 Nebraska Revised Statutes - § 17-540 — Waterworks; income; how used; surplus, investment.

Section 17-540
Waterworks; income; how used; surplus, investment.

All income received by such cities or villages from public utilities and from the payment and collection of water taxes, rents, rates or assessments shall be applied to the payment of running expenses, interest on bonds or money borrowed and the erection and construction of public utilities; should there be any surplus, it shall be annually created into a sinking fund for the payment of public utility bonds or for the improvements of the works, or into the general fund as the council or board of trustees may direct. The surplus remaining, if any, may, if the council or board of trustees so directs, be invested in interest-bearing bonds or obligations of the United States.

Source:

Laws 1881, c. 23, § 8, XV, p. 179

Laws 1885, c. 20, § 1, XV, p. 170

Laws 1887, c. 12, § 1, XV, p. 299

Laws 1893, c. 8, § 1, p. 136

Laws 1903, c. 21, § 1, p. 252

Laws 1905, c. 30, § 1, p. 258

Laws 1907, c. 17, § 1, p. 129

R.S.1913, § 5119

Laws 1917, c. 103, § 1, p. 273

Laws 1919, c. 48, § 1, p. 139

Laws 1919, c. 52, § 1, p. 153

Laws 1919, c. 46, § 2, p. 133

C.S.1922, § 4292

Laws 1925, c. 41, § 1, p. 160

C.S.1929, § 17-441

Laws 1935, c. 34, § 1, p. 144

C.S.Supp.,1941, § 17-441

Laws 1943, c. 27, § 1(1), p. 121

R.S.1943, § 17-540

Laws 1969, c. 93, § 1, p. 459

~Reissue Revised Statutes of Nebraska