Nebraska Statutes 85-410. Campus buildings and facilities; revenue bonds; issuance; public purpose; exempt from taxation
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In exercising the powers granted it under sections 85-401 to 85-411, and in issuing revenue bonds as provided in sections 85-403 to 85-411, the board exercising such powers or issuing the bonds shall constitute and be and is hereby created as a public corporation organized for educational purposes and is declared to be a governmental subdivision and instrumentality of the State of Nebraska, and all bonds issued under the authority of sections 85-403 to 85-411, together with interest thereon, shall be wholly exempt from taxation.
Source
- Laws 1955, c. 352, § 8, p. 1077;
- Laws 1969, c. 845, § 3, p. 3185.
Terms Used In Nebraska Statutes 85-410
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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