Nebraska § 39-2215.01 Highway Restoration
and Improvement Bond Fund; created; use; investment

Nebraska Statutes

§ 39-2215.01 — Highway Restoration and Improvement Bond Fund; created; use; investment

Nebraska § 39-2215.01

Ch. 39Highways and Bridges

This text of Nebraska § 39-2215.01 (Highway Restoration and Improvement Bond Fund; created; use; investment) 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. § 39-2215.01 (2026).

Text

(1)There is hereby created in the state treasury a fund to be known as the Highway Restoration and Improvement Bond Fund.

(2)If bonds are issued pursuant to subsection (2) of section 39-2223 , all motor vehicle fuel taxes, diesel fuel taxes, compressed fuel taxes, and alternative fuel fees related to highway use, motor vehicle registration fees, and other highway-user taxes which are retained by the state and allocated to the bond fund from the Highway Trust Fund shall be hereby irrevocably pledged for the terms of the bonds issued after July 1, 1988, to the payment of the principal, interest, and redemption premium, if any, of such bonds as they mature and become due at maturity or prior redemption and for any reserves therefor and shall, as received by the State Treasurer, be deposite

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(1)
There is hereby created in the state treasury a fund to be known as the Highway
Restoration and Improvement Bond Fund.
(2) If bonds are issued pursuant to subsection (2) of section 39-2223 , all motor vehicle fuel taxes, diesel fuel taxes, compressed fuel
taxes, and alternative fuel fees related to highway use,
motor vehicle registration fees, and other highway-user taxes which are retained
by the state and allocated to the bond fund from the Highway Trust Fund shall
be hereby irrevocably pledged for the terms of the bonds issued after July
1, 1988, to the payment of the principal, interest, and redemption premium,
if any, of such bonds as they mature and become due at maturity or prior redemption
and for any reserves therefor and shall, as received by the State Treasurer,
be deposited directly in the bond fund for such purpose. Of the money in the
bond fund not required for such purpose, such remaining money may be used
for the purchase for retirement of the bonds in the open market or for any
other lawful purpose related to the issuance of bonds, and the balance, if
any, shall be transferred monthly to the Highway Cash Fund for such use as
may be provided by law.
(3) The State Treasurer shall disburse the money in the bond
fund as directed by resolution of the commission. All disbursements from the
bond fund shall be made upon warrants drawn by the Director of Administrative
Services. Any money in the bond fund available for investment shall be invested
by the state investment officer pursuant to the Nebraska Capital Expansion
Act and the Nebraska State Funds Investment Act.

Legislative History

Source: Laws 1988, LB 632, § 10; Laws 1990, LB 602, § 2; Laws 1994, LB 1066, § 26; Laws 1994, LB 1160, § 50; Laws 1995, LB 182, § 23; Laws 2011, LB289, § 4. Cross References: Nebraska Capital Expansion Act, see section 72-1269. Nebraska State Funds Investment Act, see section 72-1260.