18-2124 Bonds; issuance; sources of payment; limitations. - Nebraska Statutes

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Statutes > Nebraska > Chapter18 > 18-2124

18-2124. Bonds; issuance; sources of payment; limitations.An authority shall have power to issue bonds from time to time in its discretion for any of its corporate purposes, including the payment of principal and interest upon any advances for surveys and plans for redevelopment projects. An authority shall also have power to issue refunding bonds for the purpose of paying, retiring, or otherwise refinancing, or in exchange for any or all of the principal or interest upon bonds previously issued by it. An authority may issue such types of bonds as it may determine, including, without limiting the generality of the foregoing, bonds on which the principal and interest are payable: (1) Exclusively from the income, proceeds, and revenue of the redevelopment project financed with proceeds of such bonds; (2) exclusively from the income, proceeds, and revenue of any of its redevelopment projects whether or not they are financed in whole or in part with the proceeds of such bonds; (3) exclusively from its revenue and income, including such tax revenue or receipts as may be herein authorized, including those which may be pledged under section 18-2150, and from such grants and loans as may be received; or (4) from all or part of the income, proceeds and revenue enumerated in subdivisions (1), (2), and (3) of this section; Provided, that any such bonds may be additionally secured by a pledge of any loan, grant, or contributions, or parts thereof, from the federal government or other source, or a mortgage of any redevelopment project or projects of the authority; that the authority shall not have the power to pledge the credit or taxing power of the state or any political subdivision thereof, except such tax receipts as may be authorized under this section or pledged under section 18-2150, or to place any lien or encumbrance on any property owned by the state, county, or city used by the authority. SourceLaws 1951, c. 224, § 10(1), p. 811; R.R.S.1943, § 14-1624; Laws 1961, c. 61, § 13, p. 238; R.R.S.1943, § 19-2624; Laws 1979, LB 158, § 5.

State Codes and Statutes

Statutes > Nebraska > Chapter18 > 18-2124

18-2124. Bonds; issuance; sources of payment; limitations.An authority shall have power to issue bonds from time to time in its discretion for any of its corporate purposes, including the payment of principal and interest upon any advances for surveys and plans for redevelopment projects. An authority shall also have power to issue refunding bonds for the purpose of paying, retiring, or otherwise refinancing, or in exchange for any or all of the principal or interest upon bonds previously issued by it. An authority may issue such types of bonds as it may determine, including, without limiting the generality of the foregoing, bonds on which the principal and interest are payable: (1) Exclusively from the income, proceeds, and revenue of the redevelopment project financed with proceeds of such bonds; (2) exclusively from the income, proceeds, and revenue of any of its redevelopment projects whether or not they are financed in whole or in part with the proceeds of such bonds; (3) exclusively from its revenue and income, including such tax revenue or receipts as may be herein authorized, including those which may be pledged under section 18-2150, and from such grants and loans as may be received; or (4) from all or part of the income, proceeds and revenue enumerated in subdivisions (1), (2), and (3) of this section; Provided, that any such bonds may be additionally secured by a pledge of any loan, grant, or contributions, or parts thereof, from the federal government or other source, or a mortgage of any redevelopment project or projects of the authority; that the authority shall not have the power to pledge the credit or taxing power of the state or any political subdivision thereof, except such tax receipts as may be authorized under this section or pledged under section 18-2150, or to place any lien or encumbrance on any property owned by the state, county, or city used by the authority. SourceLaws 1951, c. 224, § 10(1), p. 811; R.R.S.1943, § 14-1624; Laws 1961, c. 61, § 13, p. 238; R.R.S.1943, § 19-2624; Laws 1979, LB 158, § 5.

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State Codes and Statutes

Statutes > Nebraska > Chapter18 > 18-2124

18-2124. Bonds; issuance; sources of payment; limitations.An authority shall have power to issue bonds from time to time in its discretion for any of its corporate purposes, including the payment of principal and interest upon any advances for surveys and plans for redevelopment projects. An authority shall also have power to issue refunding bonds for the purpose of paying, retiring, or otherwise refinancing, or in exchange for any or all of the principal or interest upon bonds previously issued by it. An authority may issue such types of bonds as it may determine, including, without limiting the generality of the foregoing, bonds on which the principal and interest are payable: (1) Exclusively from the income, proceeds, and revenue of the redevelopment project financed with proceeds of such bonds; (2) exclusively from the income, proceeds, and revenue of any of its redevelopment projects whether or not they are financed in whole or in part with the proceeds of such bonds; (3) exclusively from its revenue and income, including such tax revenue or receipts as may be herein authorized, including those which may be pledged under section 18-2150, and from such grants and loans as may be received; or (4) from all or part of the income, proceeds and revenue enumerated in subdivisions (1), (2), and (3) of this section; Provided, that any such bonds may be additionally secured by a pledge of any loan, grant, or contributions, or parts thereof, from the federal government or other source, or a mortgage of any redevelopment project or projects of the authority; that the authority shall not have the power to pledge the credit or taxing power of the state or any political subdivision thereof, except such tax receipts as may be authorized under this section or pledged under section 18-2150, or to place any lien or encumbrance on any property owned by the state, county, or city used by the authority. SourceLaws 1951, c. 224, § 10(1), p. 811; R.R.S.1943, § 14-1624; Laws 1961, c. 61, § 13, p. 238; R.R.S.1943, § 19-2624; Laws 1979, LB 158, § 5.