Nebraska § 70-1103 Public power districts; no impairment of obligation to bondholders; municipal operation; books and records; revenue

Nebraska Statutes

§ 70-1103 — Public power districts; no impairment of obligation to bondholders; municipal operation; books and records; revenue

Nebraska § 70-1103

Ch. 70Power Districts and Corporations

This text of Nebraska § 70-1103 (Public power districts; no impairment of obligation to bondholders; municipal operation; books and records; revenue) 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. § 70-1103 (2026).

Text

Nothing contained in sections  70-650.01  and  70-1101  to  70-1106  shall in any manner be construed so as to impair the obligations of the public power district to the holders of its outstanding bonds. The municipalities shall properly operate and maintain such system according to the obligations of the district to its bondholders. The municipalities shall maintain and keep separate books and records of the operations of the property of the district in the same manner as such books and records were kept by the district and shall account and pay to the district the same revenue from the property it acquires which the district would have received from the property it transfers to the city if the district had remained the operator of such property.

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Nothing contained in sections 70-650.01 and 70-1101 to 70-1106 shall in any manner be construed so as to impair the obligations of the public power district to the holders of its outstanding bonds. The municipalities shall properly operate and maintain such system according to the obligations of the district to its bondholders. The municipalities shall maintain and keep separate books and records of the operations of the property of the district in the same manner as such books and records were kept by the district and shall account and pay to the district the same revenue from the property it acquires which the district would have received from the property it transfers to the city if the district had remained the operator of such property.