§ 39-861 — Interstate county bridges; revenue bonds; negotiability; tax exempt; legal investments and security

All bonds authorized by section 39-860 shall be and shall have and are declared to have all the qualities and incidents of negotiable instruments under the provisions of article 3, Uniform Commercial Code, without, however, constituting the revenue bonds, herein authorized, an indebtedness of the county issuing the same. Such bonds shall be exempt from all taxation, state and municipal. Such bonds shall be legal investments of banks, savings banks, and trust companies, of trustees and of the trustees of the sinking fund of municipalities and counties, and shall be acceptable as security for the deposit of public money in the same manner and to the same extent as any other negotiable bonds of any county of the State of Nebraska.

Legislative History

Source: Laws 1935, c. 87, § 7, p. 281; Laws 1941, c. 78, § 2, p. 316; C.S.Supp.,1941, § 39-2107; R.S.1943, § 39-861; Laws 1972, LB 1058, § 9.