Nebraska § 14-2141 Utilities district; funds; management and control; power to borrow

Nebraska Statutes

§ 14-2141 — Utilities district; funds; management and control; power to borrow

Nebraska·Ch. 14 Cities of the Metropolitan Class

Metropolitan utilities districts may, when deemed necessary by a resolution of the board of directors, temporarily lend the funds of one utility to the fund of another utility under its control, at the current market rate of interest as determined by the board of directors. In the case of emergency, or for the purpose of short-term financing of extensions, improvements, additions, and capital investments, the district may, by resolution of its board of directors, borrow money, for a term not to exceed five years, but the amount so borrowed shall not exceed ten percent of the depreciated plant value of the utility for which such money is borrowed.

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Metropolitan utilities districts may, when deemed necessary by a resolution of the board of directors, temporarily lend the funds of one utility to the fund of another utility under its control, at the current market rate of interest as determined by the board of directors. In the case of emergency, or for the purpose of short-term financing of extensions, improvements, additions, and capital investments, the district may, by resolution of its board of directors, borrow money, for a term not to exceed five years, but the amount so borrowed shall not exceed ten percent of the depreciated plant value of the utility for which such money is borrowed.

Nebraska § 14-2141 (Utilities district; funds; management and control; power to borrow) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: Laws 1921, c. 111, § 4, p. 391; C.S.1922, § 3778; C.S.1929, § 14-1104; Laws 1939, c. 9, § 3, p. 76; Laws 1941, c. 19, § 1, p. 108; C.S.Supp.,1941, § 14-1104; R.S.1943, § 14-1104; Laws 1953, c. 23, § 2, p. 97; Laws 1967, c. 48, § 1, p. 180; R.S.1943, (1991), § 14-1104; Laws 1992, LB 746, § 41.