VIII-8. Funding indebtedness; warrants.

The Legislature at its first session shall provide by law for the funding of all outstanding warrants, and other indebtedness of the state, at a rate of interest not exceeding eight per cent per annum.

Source:Neb. Const. art. IX, sec. 8 (1875); Transferred by Constitutional Convention, 1919-1920, art. VIII, sec. 8.

Annotations

The sole object of this section is to provide for the payment of existing state debts, the execution of which exhausts the power conferred by this section. State ex rel. Omaha National Bank v. McBride, 6 Neb. 506 (1877).