Nebraska § 14-1222 Revenue bonds; city may purchase for investment or retirement

Nebraska Statutes

§ 14-1222 — Revenue bonds; city may purchase for investment or retirement

Nebraska § 14-1222

Ch. 14Cities of the Metropolitan Class

This text of Nebraska § 14-1222 (Revenue bonds; city may purchase for investment or retirement) 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. § 14-1222 (2026).

Text

The city council of a city of the metropolitan class shall have the right to purchase for investment of other funds, and the bridge commission and the city council shall have the right to purchase for retirement and cancellation, any of such bonds that may be outstanding, at the market price, but at not exceeding one hundred five percent and accrued interest and not exceeding the price, if any, at which such bonds shall in the same year be redeemable, but all bonds redeemed or purchased out of funds provided by the sale of bridge bonds shall be canceled and shall not be reissued.

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The city council of a city of the metropolitan class shall have the right to purchase for investment of other funds, and the bridge commission and the city council shall have the right to purchase for retirement and cancellation, any of such bonds that may be outstanding, at the market price, but at not exceeding one hundred five percent and accrued interest and not exceeding the price, if any, at which such bonds shall in the same year be redeemable, but all bonds redeemed or purchased out of funds provided by the sale of bridge bonds shall be canceled and shall not be reissued.

Legislative History

Source: Laws 1929, c. 176, § 10, p. 620; C.S.1929, § 14-1210; Laws 1931, c. 27, § 2, p. 109; C.S.Supp.,1941, § 14-1210; R.S.1943, § 14-1222; Laws 2022, LB800, § 255.