Nebraska Statutes 39-2213.01. Build Nebraska Act; highway construction projects; bonds; special obligations of state; payment; exempt from taxation and assessments; waiver of exemption
The bonds issued pursuant to section 39-2203.01 shall be special obligations of the state payable solely and only from the State Highway Capital Improvement Fund and any other funds specifically pledged by the commission for such purpose, and neither the members of the commission nor any person executing the bonds shall be liable thereon. Such bonds shall not be a general obligation or debt of the state, and they shall contain on the face thereof a statement to such effect. Such bonds, and the transfer of and the income from any such bonds, shall be exempt from all taxation and assessments in this state. In the resolution authorizing the bonds, the commission may waive the exemption from federal income taxation for interest on the bonds.
Terms Used In Nebraska Statutes 39-2213.01
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: shall include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
- 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