Nebraska Statutes 46-1,126. Bonds issued to discharge judgments or procure surrender of bonds, notes, and warrants; rights of creditors not consenting
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Any contractual obligation entered into by a district in pursuance of sections 46-1,114 to 46-1,126 shall not impair the rights of any creditor of the district who does not consent thereto by accepting the bonds issued in pursuance of said sections, and in case the district shall default in the payment of any debt owing to any such creditor the rights and remedies of such creditor shall be the same as though the contractual obligations hereby authorized had not been entered into.
Terms Used In Nebraska Statutes 46-1,126
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.