Nebraska § 31-371 Refunding bonds; issuance; power of board; limitation; interest; term

Nebraska Statutes

§ 31-371 — Refunding bonds; issuance; power of board; limitation; interest; term

Nebraska § 31-371

Ch. 31Drainage

This text of Nebraska § 31-371 (Refunding bonds; issuance; power of board; limitation; interest; term) 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. § 31-371 (2026).

Text

The board of supervisors of any drainage district in the State of Nebraska organized under and by virtue of the provisions of sections  31-301  to  31-369 , and any amendments thereto, which has issued, or may hereafter issue valid interest-bearing bonds under the provisions of said sections, and which bonds are now or may hereafter be outstanding and unpaid, may take up and pay off any such bonds whenever the same can be brought about by lawful means, by the issue and sale or the issue and exchange therefor of the refunding bonds of such drainage district; but bonds so to be issued shall not exceed the amount lawfully owing and unpaid upon the bond or bonds so sought to be taken up and paid. Bonds so issued shall not bear interest greater in rate or amount per annum than the bonds so soug

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The board of supervisors of any drainage district in the State of Nebraska organized under and by virtue of the provisions of sections 31-301 to 31-369 , and any amendments thereto, which has issued, or may hereafter issue valid interest-bearing bonds under the provisions of said sections, and which bonds are now or may hereafter be outstanding and unpaid, may take up and pay off any such bonds whenever the same can be brought about by lawful means, by the issue and sale or the issue and exchange therefor of the refunding bonds of such drainage district; but bonds so to be issued shall not exceed the amount lawfully owing and unpaid upon the bond or bonds so sought to be taken up and paid. Bonds so issued shall not bear interest greater in rate or amount per annum than the bonds so sought to be taken up and paid, and shall be made to run for not more than twenty years from date of issuance.