Nebraska § 85-1521 Revenue bonds;
pledge of revenue; payment; board; powers and duties; bonds not obligation
of state

Nebraska Statutes

§ 85-1521 — Revenue bonds; pledge of revenue; payment; board; powers and duties; bonds not obligation of state

Nebraska § 85-1521

Ch. 85State University, State Colleges, and Postsecondary Education

This text of Nebraska § 85-1521 (Revenue bonds; pledge of revenue; payment; board; powers and duties; bonds not obligation of state) 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. § 85-1521 (2026).

Text

Each board may, by resolution or agreement,
pledge all or any part of the revenue and fees derived from the operation
of the dormitories, residence halls, single-dwelling units, multiple-dwelling
units, buildings, and other facilities for housing, boarding, medical care,
and other activities of students, faculty, or employees of the institution
under its control erected or acquired or previously erected or acquired by
any such board and contract as to the care, insurance, management, and operation
of such buildings and facilities and the charges to be made and the rights
of the holders of the revenue bonds. When any board contracts that the operation
of any building or facility or part thereof shall be performed other than
by the board itself, such board shall at all times maintain supervi

Free access — add to your briefcase to read the full text and ask questions with AI

Each board may, by resolution or agreement,
pledge all or any part of the revenue and fees derived from the operation
of the dormitories, residence halls, single-dwelling units, multiple-dwelling
units, buildings, and other facilities for housing, boarding, medical care,
and other activities of students, faculty, or employees of the institution
under its control erected or acquired or previously erected or acquired by
any such board and contract as to the care, insurance, management, and operation
of such buildings and facilities and the charges to be made and the rights
of the holders of the revenue bonds. When any board contracts that the operation
of any building or facility or part thereof shall be performed other than
by the board itself, such board shall at all times maintain supervision of
and control over the fees and charges imposed for the use of such building,
facility, or part. In issuing revenue bonds and pledging revenue therefor,
the board may pledge all or any part of the revenue and fees from buildings
and facilities other than the building or facility to be constructed. Bonds
issued under sections 85-1520 to 85-1527 shall not be an obligation of the
State of Nebraska, and no tax,
except for the tax authorized under subdivision (1)(b) of section 85-1517
for fiscal years prior to fiscal year 2013-14 and subdivision (2)(b) of section 85-1517 for fiscal year 2013-14 and each fiscal year thereafter, shall
ever be levied to raise funds for the payment thereof or interest thereon.
The bonds shall constitute limited obligations of the board issuing the same
and shall be paid out
of revenue from the tax levy
authorized pursuant to subdivision (1)(b) of section 85-1517 for fiscal years
prior to fiscal year 2013-14 and subdivision (2)(b) of section 85-1517 for
fiscal year 2013-14 and each fiscal year thereafter and out of money
derived from the revenue and earnings pledged as provided in sections 85-1501
to 85-1540 .

Legislative History

Source: Laws 1987, LB 329, § 4; Laws 1988, LB 802, § 35; R.S.Supp.,1992, § 79-2650.09; Laws 1993, LB 239, § 43; Laws 1997, LB 269, § 73; Laws 2012, LB946, § 20.