State Codes and Statutes

Statutes > Nebraska > Chapter23 > 23-3508

23-3508. County board; bonds; elections; purpose; terms; levy; limitation.(1) The county board in counties in this state in which such facility or facilities have been established as provided in section 23-3501 may, by a majority vote of the board, issue and sell bonds of the county in such sums as the county board may deem advisable to defray the cost of improvements or additions thereto and equipment. Such bonds shall not exceed the amount authorized for improvements, additions, or equipment in section 23-3504.(2) The county board may also, either on its own initiative or upon the recommendation of the board of trustees, from time to time submit to the electors of such county at a general election or at a special election called for that purpose the question of the issuance of the bonds of such county to defray the cost of improvements or additions to such facility or facilities or equipment therefor in an amount either within or exceeding the limitation of fifty percent of the current replacement cost of such existing facility or facilities and equipment. If approved by the vote of a majority of the electors voting on such proposition, the county board shall issue and sell such bonds. The county board, if it deems it best, may combine in one question to the voters the proposition of authorizing such improvements, additions, or equipment in excess of the limitation prescribed, as provided in section 23-3504, and the issuance of bonds under this section.(3) Such bonds shall (a) be payable in not to exceed twenty years from the date of issuance, (b) bear interest payable annually or semiannually, and (c) contain an option to the county to pay all or any part thereof at any time after five years from the date of issuance. When such bonds have been issued under this section or section 23-3501, the county board shall cause to be levied and collected annually a tax upon all of the taxable property of such county sufficient to pay the interest and principal of the bonds as the same become due and payable.(4) In addition to the issuance of bonds therefor, the county board may also place operating income from the operation of such facility which is not needed for current operations into a special reserve fund to be used to defray the cost of such improvements or additions and equipment. Income placed in such fund may be withdrawn and used for operating expenses with the approval of the county board. SourceLaws 1945, c. 44, § 8, p. 210; Laws 1949, c. 38, § 2, p. 131; Laws 1963, c. 114, § 8, p. 451; Laws 1967, c. 121, § 8, p. 390; Laws 1969, c. 157, § 1, p. 729; Laws 1969, c. 51, § 83, p. 327; Laws 1978, LB 560, § 1; Laws 1991, LB 798, § 2; R.S.Supp.,1991, § 23-343.07. AnnotationsTwo alternative methods of defraying the cost of improvements or additions are provided. Armstrong v. Board of Supervisors of Kearney County, 153 Neb. 858, 46 N.W.2d 602 (1951).

State Codes and Statutes

Statutes > Nebraska > Chapter23 > 23-3508

23-3508. County board; bonds; elections; purpose; terms; levy; limitation.(1) The county board in counties in this state in which such facility or facilities have been established as provided in section 23-3501 may, by a majority vote of the board, issue and sell bonds of the county in such sums as the county board may deem advisable to defray the cost of improvements or additions thereto and equipment. Such bonds shall not exceed the amount authorized for improvements, additions, or equipment in section 23-3504.(2) The county board may also, either on its own initiative or upon the recommendation of the board of trustees, from time to time submit to the electors of such county at a general election or at a special election called for that purpose the question of the issuance of the bonds of such county to defray the cost of improvements or additions to such facility or facilities or equipment therefor in an amount either within or exceeding the limitation of fifty percent of the current replacement cost of such existing facility or facilities and equipment. If approved by the vote of a majority of the electors voting on such proposition, the county board shall issue and sell such bonds. The county board, if it deems it best, may combine in one question to the voters the proposition of authorizing such improvements, additions, or equipment in excess of the limitation prescribed, as provided in section 23-3504, and the issuance of bonds under this section.(3) Such bonds shall (a) be payable in not to exceed twenty years from the date of issuance, (b) bear interest payable annually or semiannually, and (c) contain an option to the county to pay all or any part thereof at any time after five years from the date of issuance. When such bonds have been issued under this section or section 23-3501, the county board shall cause to be levied and collected annually a tax upon all of the taxable property of such county sufficient to pay the interest and principal of the bonds as the same become due and payable.(4) In addition to the issuance of bonds therefor, the county board may also place operating income from the operation of such facility which is not needed for current operations into a special reserve fund to be used to defray the cost of such improvements or additions and equipment. Income placed in such fund may be withdrawn and used for operating expenses with the approval of the county board. SourceLaws 1945, c. 44, § 8, p. 210; Laws 1949, c. 38, § 2, p. 131; Laws 1963, c. 114, § 8, p. 451; Laws 1967, c. 121, § 8, p. 390; Laws 1969, c. 157, § 1, p. 729; Laws 1969, c. 51, § 83, p. 327; Laws 1978, LB 560, § 1; Laws 1991, LB 798, § 2; R.S.Supp.,1991, § 23-343.07. AnnotationsTwo alternative methods of defraying the cost of improvements or additions are provided. Armstrong v. Board of Supervisors of Kearney County, 153 Neb. 858, 46 N.W.2d 602 (1951).

State Codes and Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter23 > 23-3508

23-3508. County board; bonds; elections; purpose; terms; levy; limitation.(1) The county board in counties in this state in which such facility or facilities have been established as provided in section 23-3501 may, by a majority vote of the board, issue and sell bonds of the county in such sums as the county board may deem advisable to defray the cost of improvements or additions thereto and equipment. Such bonds shall not exceed the amount authorized for improvements, additions, or equipment in section 23-3504.(2) The county board may also, either on its own initiative or upon the recommendation of the board of trustees, from time to time submit to the electors of such county at a general election or at a special election called for that purpose the question of the issuance of the bonds of such county to defray the cost of improvements or additions to such facility or facilities or equipment therefor in an amount either within or exceeding the limitation of fifty percent of the current replacement cost of such existing facility or facilities and equipment. If approved by the vote of a majority of the electors voting on such proposition, the county board shall issue and sell such bonds. The county board, if it deems it best, may combine in one question to the voters the proposition of authorizing such improvements, additions, or equipment in excess of the limitation prescribed, as provided in section 23-3504, and the issuance of bonds under this section.(3) Such bonds shall (a) be payable in not to exceed twenty years from the date of issuance, (b) bear interest payable annually or semiannually, and (c) contain an option to the county to pay all or any part thereof at any time after five years from the date of issuance. When such bonds have been issued under this section or section 23-3501, the county board shall cause to be levied and collected annually a tax upon all of the taxable property of such county sufficient to pay the interest and principal of the bonds as the same become due and payable.(4) In addition to the issuance of bonds therefor, the county board may also place operating income from the operation of such facility which is not needed for current operations into a special reserve fund to be used to defray the cost of such improvements or additions and equipment. Income placed in such fund may be withdrawn and used for operating expenses with the approval of the county board. SourceLaws 1945, c. 44, § 8, p. 210; Laws 1949, c. 38, § 2, p. 131; Laws 1963, c. 114, § 8, p. 451; Laws 1967, c. 121, § 8, p. 390; Laws 1969, c. 157, § 1, p. 729; Laws 1969, c. 51, § 83, p. 327; Laws 1978, LB 560, § 1; Laws 1991, LB 798, § 2; R.S.Supp.,1991, § 23-343.07. AnnotationsTwo alternative methods of defraying the cost of improvements or additions are provided. Armstrong v. Board of Supervisors of Kearney County, 153 Neb. 858, 46 N.W.2d 602 (1951).