Nebraska § 14-1225 Bridges; state and political subdivisions; competing bridges; limitations upon, for protection of bondholders

Nebraska Statutes

§ 14-1225 — Bridges; state and political subdivisions; competing bridges; limitations upon, for protection of bondholders

Nebraska·Ch. 14 Cities of the Metropolitan Class

Neither the State of Nebraska nor any political subdivision thereof shall:

(1)Limit or restrict the rights and powers granted in sections 14-1201 to 14-1252 to the detriment of owners of outstanding bonds; or

(2)Authorize the construction or itself construct any competing bridge within a distance of one mile on either side of the bridge unless and until all of such bonds, together with the interest on such bonds, have been fully paid and canceled, unless other adequate provisions have been made for the protection and guaranty of such bonds.

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Neither the State of Nebraska nor any political subdivision thereof shall:
(1) Limit or restrict the rights and powers granted in sections 14-1201 to 14-1252 to the detriment of owners of outstanding bonds; or
(2) Authorize the construction or itself construct any competing bridge within a distance of one mile on either side of the bridge unless and until all of such bonds, together with the interest on such bonds, have been fully paid and canceled, unless other adequate provisions have been made for the protection and guaranty of such bonds.

Nebraska § 14-1225 (Bridges; state and political subdivisions; competing bridges; limitations upon, for protection of bondholders) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.