Nebraska Statutes 39-2219. Bonds; interest; exempt from taxation
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It is hereby found, determined, and declared that there exists a need for the construction of highways in this state requiring the issuance of bonds by the commission acting for and on behalf of the state, all as more fully provided in the Nebraska Highway Bond Act, that the creation of the commission and the carrying out of its purpose are in all respects for the benefit of the people of this state and for the improvement of their health, welfare, and prosperity and constitute a public purpose, and that such bonds, the interest thereon, and the income therefrom shall at all times be exempt from taxation by this state or any political subdivision of this state.
Source
- Laws 1969, c. 309, § 19, p. 1113;
- Laws 1988, LB 632, § 13.
Terms Used In Nebraska Statutes 39-2219
- Highway: means the entire width between the boundary limits of any street, road, avenue, boulevard, or way which is publicly maintained when any part thereof is open to the use of the public for purposes of vehicular travel. See Nebraska Statutes 39-101
- 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