Nebraska § 18-2131 Bonds; default; causes of action

Nebraska Statutes

§ 18-2131 — Bonds; default; causes of action

Nebraska § 18-2131

Ch. 18Cities and Villages; Laws Applicable to All

This text of Nebraska § 18-2131 (Bonds; default; causes of action) 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. § 18-2131 (2026).

Text

An authority may by resolution, trust indenture, mortgage, lease, or other instrument confer upon any obligee holding or representing a specified amount in bonds, the right, in addition to all rights that may otherwise be conferred, upon the happening of an event of default as defined in such resolution or instruments, by suit, action, or proceeding in any court of competent jurisdiction:

(1)To cause possession of any redevelopment project or any part thereof, title to which is in the authority, to be surrendered to any such obligee;

(2)to obtain the appointment of a receiver of any redevelopment project of such authority or any part thereof, title to which is in the authority, and of the rents and profits therefrom. If such receiver be appointed, the receiver may enter and take possessi

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An authority may by resolution, trust indenture, mortgage, lease, or other instrument confer upon any obligee holding or representing a specified amount in bonds, the right, in addition to all rights that may otherwise be conferred, upon the happening of an event of default as defined in such resolution or instruments, by suit, action, or proceeding in any court of competent jurisdiction: (1) To cause possession of any redevelopment project or any part thereof, title to which is in the authority, to be surrendered to any such obligee; (2) to obtain the appointment of a receiver of any redevelopment project of such authority or any part thereof, title to which is in the authority, and of the rents and profits therefrom. If such receiver be appointed, the receiver may enter and take possession of, carry out, operate, and maintain such project or any part thereof and collect and receive all fees, rents, revenue, or other charges thereafter arising from such project, and shall keep such money in a separate account or accounts and apply the same in accordance with the obligations of such authority as the court shall direct; and (3) to require the authority and the members, officers, agents, and employees thereof to account as if it and they were the trustees of an express trust.