Nebraska § 10-402 County and city bonds; election; proposition; contents; additional levy

Nebraska Statutes

§ 10-402 — County and city bonds; election; proposition; contents; additional levy

Nebraska § 10-402

Ch. 10Bonds

This text of Nebraska § 10-402 (County and city bonds; election; proposition; contents; additional levy) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 10-402 (2026).

Text

The proposition of the question must be accompanied by a provision to levy a tax annually for the payment of the interest on the bonds. An additional amount shall be levied and collected to pay the principal of such bonds.

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Legislative History

Source: Laws 1869, § 2, p. 92; Laws 1870, § 1, p. 15; R.S.1913, § 406; C.S.1922, § 323; C.S.1929, § 11-402; R.S.1943, § 10-402; Laws 2023, LB92, § 43. Annotations: Where proposition submitted provides for levying tax to pay interest but fails to provide levy for principal, bond issue may be enjoined. Cook v. City of Beatrice, 32 Neb. 80, 48 N.W. 828 (1891). Submission of proposition to levy tax is mandatory and must be complied with in issuing bonds. State ex rel. Berry v. Babcock, 21 Neb. 599, 33 N.W. 247 (1887). If proposition submitted does not include provision to levy tax for payment of interest, bonds are void. Hamlin v. Meadville, 6 Neb. 227 (1877).