Nebraska § 39-2216 Legislature; holders of bonds; pledges not to repeal, diminish, or apply funds for other uses

Nebraska Statutes

§ 39-2216 — Legislature; holders of bonds; pledges not to repeal, diminish, or apply funds for other uses

Nebraska § 39-2216

Ch. 39Highways and Bridges

This text of Nebraska § 39-2216 (Legislature; holders of bonds; pledges not to repeal, diminish, or apply funds for other uses) 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. § 39-2216 (2026).

Text

The Legislature hereby irrevocably pledges and agrees with the holders of the bonds issued under the Nebraska Highway Bond Act that so long as such bonds remain outstanding and unpaid it shall not repeal, diminish, or apply to any other purposes the motor vehicle fuel taxes, diesel fuel taxes, compressed fuel taxes, and alternative fuel fees related to highway use, motor vehicle registration fees, and such other highway-user taxes which may be imposed by state law and allocated to the fund, the State Highway Capital Improvement Fund, or the bond fund, as the case may be, if to do so would result in fifty percent of the amount deposited in the fund, the State Highway Capital Improvement Fund, or the bond fund in each year being less than the amount equal to the maximum annual principal and 

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The Legislature hereby irrevocably pledges and agrees with the holders of the bonds issued under the Nebraska Highway Bond Act that so long as such bonds remain outstanding and unpaid it shall not repeal, diminish, or apply to any other purposes the motor vehicle fuel taxes, diesel fuel taxes, compressed fuel taxes, and alternative fuel fees related to highway use, motor vehicle registration fees, and such other highway-user taxes which may be imposed by state law and allocated to the fund, the State Highway Capital Improvement Fund, or the bond fund, as the case may be, if to do so would result in fifty percent of the amount deposited in the fund, the State Highway Capital Improvement Fund, or the bond fund in each year being less than the amount equal to the maximum annual principal and interest requirements of such bonds.

Legislative History

Source: Laws 1969, c. 309, § 16, p. 1112; Laws 1988, LB 632, § 11; Laws 1994, LB 1160, § 51; Laws 1995, LB 182, § 24; Laws 2011, LB289, § 5; Laws 2023, LB727, § 39.