Nebraska Statutes 14-532. Street improvements; bonds; special assessment sinking fund; investment; special use
A city of the metropolitan class may, when not required for any of the purposes specified in section 14-530, temporarily invest funds contained in the special assessment sinking fund in securities of the United States Government, the State of Nebraska, the city, the county containing such city, or any publicly owned and operated municipal utilities of such city. All such investments shall be made so as to be closed out and realized upon whenever the proceeds so invested are needed for the purpose specified in such section. The proceeds of the special assessment sinking fund, insofar as required, may be used to complete the work under a contract where the contractor fails or refuses to perform such work.
Terms Used In Nebraska Statutes 14-532
- Contract: A legal written agreement that becomes binding when signed.
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
- United States: shall include territories, outlying possessions, and the District of Columbia. See Nebraska Statutes 49-801