Nebraska § 10-715 Sinking fund; liability of county treasurer; unexpended balance; disposition

Nebraska Statutes

§ 10-715 — Sinking fund; liability of county treasurer; unexpended balance; disposition

Nebraska § 10-715

Ch. 10Bonds

This text of Nebraska § 10-715 (Sinking fund; liability of county treasurer; unexpended balance; disposition) 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. § 10-715 (2026).

Text

The tax and funds so collected shall be deemed pledged and appropriated to the payment of the interest and principal of the registered bonds herein provided for, until fully satisfied, and the treasurer shall be liable on his official bond for the faithful disbursement of all money so collected or received by him. After the principal and interest of such bonds shall have been fully paid, and all obligations for which such fund and taxes were raised have been discharged, the county clerk, upon the order of the county board, shall notify the county treasurer to transfer all such funds remaining in his hands to the credit of the district to which they belong.

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The tax and funds so collected shall be deemed pledged and appropriated to the payment of the interest and principal of the registered bonds herein provided for, until fully satisfied, and the treasurer shall be liable on his official bond for the faithful disbursement of all money so collected or received by him. After the principal and interest of such bonds shall have been fully paid, and all obligations for which such fund and taxes were raised have been discharged, the county clerk, upon the order of the county board, shall notify the county treasurer to transfer all such funds remaining in his hands to the credit of the district to which they belong.

Legislative History

Source: Laws 1879, § 17, p. 175; Laws 1885, c. 82, § 1, p. 331; R.S.1913, § 462; C.S.1922, § 379; C.S.1929, § 11-915; R.S.1943, § 10-715. Annotations: Failure to make provision for transfer from general fund to building fund indicates legislative intent to withhold authority for such transfer. State ex rel. School Dist. v. Board of Equalization, 166 Neb. 785, 90 N.W.2d 421 (1958).