Nebraska § 14-536 Streets; grading; special assessments; rate of interest; sinking fund; use

Nebraska Statutes

§ 14-536 — Streets; grading; special assessments; rate of interest; sinking fund; use

Nebraska·Ch. 14 Cities of the Metropolitan Class

Upon the completion of any grading of a street, avenue, alley, or thoroughfare, the city council of a city of the metropolitan class shall levy special assessments in the manner provided in sections  14-501  to  14-566 , to the extent of the benefits, to cover the total costs of such grading. Special assessments so levied shall be made payable as provided in section  14-537 . All installments shall draw interest at a rate not to exceed the rate of interest specified in section  45-104.01 , as such rate may from time to time be adjusted by the Legislature, from the time of levy until due, and the rate specified in section  45-104.01 , as such rate may from time to time be adjusted by the Legislature, whenever such installments become delinquent. All such special assessments and all interest

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Upon the completion of any grading of a street, avenue, alley, or thoroughfare, the city council of a city of the metropolitan class shall levy special assessments in the manner provided in sections 14-501 to 14-566 , to the extent of the benefits, to cover the total costs of such grading. Special assessments so levied shall be made payable as provided in section 14-537 . All installments shall draw interest at a rate not to exceed the rate of interest specified in section 45-104.01 , as such rate may from time to time be adjusted by the Legislature, from the time of levy until due, and the rate specified in section 45-104.01 , as such rate may from time to time be adjusted by the Legislature, whenever such installments become delinquent. All such special assessments and all interest accruing on such special assessments shall constitute a sinking fund and shall be used only for the purpose of paying the interest on the bonds issued in that connection as such interest accrues and of paying the principal sum of the bonds at the maturity of such bonds.

Nebraska § 14-536 (Streets; grading; special assessments; rate of interest; sinking fund; use) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: Laws 1921, c. 116, art. IV, § 24, p. 482; C.S.1922, § 3650; C.S.1929, § 14-527; R.S.1943, § 14-536; Laws 1980, LB 933, § 3; Laws 1981, LB 167, § 4; Laws 1991, LB 745, § 4; Laws 2022, LB800, § 187.