Nebraska Statutes 18-2483. Bondholders; pledge; agreement of the state
The State of Nebraska does hereby pledge to and agree with the holders of any bonds and with those parties who may enter into contracts with any agency or municipality under sections 18-2401 to 18-2485 that the state will not alter, impair, or limit the rights thereby vested until the bonds, together with applicable interest, are fully met and discharged and such contracts are fully performed. Nothing contained in sections 18-2401 to 18-2485 shall preclude such alteration, impairment, or limitation if and when adequate provisions shall be made by law for the protection of the holders of the bonds or persons entering into contracts with any agency or municipality. Each agency and municipality is authorized to include this pledge and undertaking for the state in such bonds or contracts.
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Terms Used In Nebraska Statutes 18-2483
- Agency: shall mean any of the public corporations created pursuant to sections 18-2401 to 18-2485. See 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 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
- 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