Nebraska Statutes 18-2480. Bonds and property; tax exempt; when
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(1) All bonds of an agency are declared to be issued for an essential public and governmental purpose and, together with interest thereon and income therefrom, shall be exempt from all taxes.
Terms Used In Nebraska Statutes 18-2480
- Agency: shall mean any of the public corporations created pursuant to sections Nebraska Statutes 18-2405
- Bonds: shall mean any bonds, interim certificates, notes, debentures, or other evidences of indebtedness of an agency. See Nebraska Statutes 18-2407
- Municipality: shall mean (1) any city or village incorporated under the laws of this state, any equivalent entity incorporated under the laws of another state, or any separate municipal utility which has autonomous control and was established by such a city, village, or equivalent entity or by the citizens thereof for the purpose of providing electric energy for such municipality, (2) any public entity organized under Nebraska Statutes 18-2410
- Participating municipality: shall mean with respect to an agency, any one of the municipalities which is entitled to appoint a director or directors of such agency pursuant to sections Nebraska Statutes 18-2411
- Person: shall mean a natural person, public authority, private corporation, association, firm, partnership, limited liability company, or business trust of any nature whatsoever organized and existing under the laws of this state or of the United States or any other state thereof. See Nebraska Statutes 18-2412
- 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
(2) The property of an agency, including any pro rata share of any property owned by an agency in conjunction with any other person, is declared to be public property of a governmental subdivision of the state. Such property and the income of an agency shall be exempt from all taxes of the state or any municipality or other political subdivision of the state and shall be exempt from all special assessments of any participating municipality if used for a public purpose.