77-2338. Sinking funds of school district; investment in warrants; limitation; direction to treasurer.

The school board of any school district in this state is authorized to direct the legal custodian of any of its sinking funds to invest such sinking funds in the warrants of such school district in like manner as hereinbefore provided for. The investment of such school district sinking fund under this section shall be limited to the warrants of its own issue. Upon such direction of the school board, the custodian of such sinking funds shall proceed to take up the warrants of such school district as herein provided for.

Source:Laws 1895, c. 68, § 4, p. 243; R.S.1913, § 6673; C.S.1922, § 6204; C.S.1929, § 77-2521; R.S.1943, § 77-2338.

Annotations

Interest received by county treasurer from depository banks on sinking funds for payment of bonds of school district must be credited to the general fund of the county. School District No. 22 of Harlan County v. Harlan County, 127 Neb. 4, 254 N.W. 701 (1934).