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2009 Nebraska Code
Chapter 74 RAILROADS
74-1428.03 Bonds; not obligation of state; statement required.

74-1428.03. Bonds; not obligation of state; statement required.

No bonds issued by the council under the Light-Density Rail Line Assistance Act shall constitute a debt, liability, or general obligation of the state or a pledge of the faith and credit of the state but shall be payable solely as provided by section 74-1428.02. Each bond issued under the act shall contain on the face thereof a statement that neither the faith and credit nor the taxing power of this state is pledged to the payment of the principal of or the interest on such bond.

Source
    Laws 1991, LB 783, ยง 31.



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