Nebraska Revised Statute 39-2216

Chapter 39 Section 2216

39-2216.

Legislature; holders of bonds; pledges not to repeal, diminish, or apply funds for other uses.

The Legislature hereby irrevocably pledges and agrees with the holders of the bonds issued under the Nebraska Highway Bond Act that so long as such bonds remain outstanding and unpaid it shall not repeal, diminish, or apply to any other purposes the motor vehicle fuel taxes, diesel fuel taxes, compressed fuel taxes, and alternative fuel fees related to highway use, motor vehicle registration fees, and such other highway-user taxes which may be imposed by state law and allocated to the fund or bond fund, as the case may be, if to do so would result in fifty percent of the amount deposited in the fund or bond fund in each year being less than the amount equal to the maximum annual principal and interest requirements of such bonds.

Source

  • Laws 1969, c. 309, § 16, p. 1112;
  • Laws 1988, LB 632, § 11;
  • Laws 1994, LB 1160, § 51;
  • Laws 1995, LB 182, § 24;
  • Laws 2011, LB289, § 5.