(1) Neither the members of an agency‘s board nor any person executing the bonds shall be liable personally on such bonds by reason of the issuance thereof.

Terms Used In Nebraska Statutes 18-2466

  • Agency: shall mean any of the public corporations created pursuant to sections 18-2401 to 18-2485. See Nebraska Statutes 18-2405
  • Board: shall mean the board of directors of an agency. See Nebraska Statutes 18-2406
  • 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 Chapter 70, article 6, and incorporated under the laws of this state for the sole purpose of providing wholesale electric energy to a single municipality which is incorporated under the laws of this state, or (3) any agency primarily comprised of municipalities. See Nebraska Statutes 18-2410
  • 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 bonds shall not be a debt of any municipality or of this state and neither this state nor any municipality shall be liable thereon. Bonds shall be payable only out of any funds or properties of the issuing agency. Such limitations shall be plainly stated upon the face of the bonds.