Nebraska § 46-559 District; indebtedness; levy of assessments

Nebraska Statutes

§ 46-559 — District; indebtedness; levy of assessments

Nebraska § 46-559

Ch. 46Irrigation and Regulation of Water

This text of Nebraska § 46-559 (District; indebtedness; levy of assessments) 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. § 46-559 (2026).

Text

Whenever a contract of indebtedness has been created by the district, it shall be lawful for the board to make the levy of taxes and special assessments in such amount as will create a surplus of funds to meet the annual installments of indebtedness or the payment of bonds and interest, and the necessary maintenance and operating charges, and the board shall cause such surplus funds to be placed in a sinking fund which may be used for the payments of contingencies, defaults and delinquencies, and to pay the future annual installments of indebtedness on contract, bonds, or contract and bonds, and interest.

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Whenever a contract of indebtedness has been created by the district, it shall be lawful for the board to make the levy of taxes and special assessments in such amount as will create a surplus of funds to meet the annual installments of indebtedness or the payment of bonds and interest, and the necessary maintenance and operating charges, and the board shall cause such surplus funds to be placed in a sinking fund which may be used for the payments of contingencies, defaults and delinquencies, and to pay the future annual installments of indebtedness on contract, bonds, or contract and bonds, and interest.