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2017 Nebraska Revised Statutes
Chapter 31 - DRAINAGE
31-510 Borrowing money; bonds; interest; limit of indebtedness.
Universal Citation: NE Code § 31-510 (2017)
31-510. Borrowing money; bonds; interest; limit of indebtedness.
Such district may borrow money for corporate purposes and issue bonds therefor, but it shall not become indebted in any manner or for any purpose to an amount in the aggregate in excess of one and four-tenths percent of the taxable valuation of property in the district for county purposes.
Source
- Laws 1891, c. 36, § 6, p. 290;
- R.S.1913, § 1929;
- C.S.1922, § 1870;
- C.S.1929, § 31-608;
- R.S.1943, § 31-510;
- Laws 1969, c. 51, § 93, p. 332;
- Laws 1979, LB 187, § 135;
- Laws 1992, LB 719A, § 123.
Annotations
Sanitary districts may borrow money for corporate purposes. Lang v. Sanitary District of Norfolk, 160 Neb. 754, 71 N.W.2d 608 (1955).
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