10-126. Bonds; when redeemable; exceptions; call premium, when authorized; procedure for calling; resolution, when required; notice; prepayment.
(1) All bonds of indebtedness, issued after September 7, 1947, by any county, precinct, city, village, school district, drainage district, or irrigation district or any other municipal corporation or governmental subdivision of the state shall be redeemable at the option of the governmental subdivision or municipal corporation issuing such bonds at any time on or after five years from the date of issuance, except that this provision shall not apply to (a) bonds of public power districts, public power and irrigation districts, metropolitan utilities districts, cities of the metropolitan and primary classes, and housing authorities of any city or village, (b) issues of revenue bonds exceeding one million dollars of cities of the first and second classes and of villages, (c) issues of bonds exceeding ten million dollars of any school district of one thousand or more students in membership as provided in the fall school district membership report pursuant to subsection (4) of section 79-528 immediately preceding the issuance of bonds, or (d) bonds issued by the Board of Regents of the University of Nebraska or the Board of Trustees of the Nebraska State Colleges. Bonds of a district created under Chapter 31 or 39 shall in addition, after annexation of the district by any municipality, be redeemable at the option of the annexing municipality at any time after annexation of such district if at the time of redemption at least five years have elapsed from date of issuance. Such condition shall be plainly set forth in all bonds of any governmental subdivision of the state or municipal corporation hereafter issued to which it applies.
(2) The issuer, except districts organized under Chapter 31 or 39, of any such bonds of indebtedness, when the total amount of bonds at par value authorized as a single issue is five hundred thousand dollars or more, may agree to pay a call premium of not to exceed four percent of the par value for the redemption of such bonds. Districts organized under Chapter 31 or 39 may agree to pay a call premium of not to exceed two percent of the par value of such bonds when a single issue is five hundred thousand dollars or more, and bonds of such districts shall have no other bond redemption call or prepayment restrictions except as provided in this section. Bonds listed in subdivisions (1)(a) through (1)(d) of this section may contain such provisions with respect to their redemption as the public power district, public power and irrigation district, metropolitan utilities district, city, village, housing authority, school district, Board of Regents, or Board of Trustees shall provide.
(3) All bonds issued which do not provide a special procedure for calling and prepayments shall be called by a resolution passed by the governing body of the obligor, which resolution shall designate the bond or bonds to be prepaid by stating the date of the bonds, the purpose for which the bonds were issued, the bond numbers of the bonds so called, and the date set for prepayment. The issuer of any bonds which are required by this section to be issued subject to an option of redemption shall, at least thirty days prior to the date set for prepayment of such bonds, send notice by mail of the call to each holder of the called bonds as shown in its records. A true copy of the resolution shall be filed by the obligor with the paying agent on or before the call date.
(4) If the obligor deposits sufficient funds with the paying agent to pay the called bonds and accrued interest to date of call in full on or before the call date, the bonds shall cease to be a liability of the obligor, otherwise the call shall be revoked, and the bonds continue in effect the same as though no call had been made.
Source
Structure Nebraska Revised Statutes
10-102 - Remittances; how made; expenses.
10-103 - Payment; cancellation and return; duty of state agent.
10-105 - Donations to railroad corporations; conditions; noncompliance; effect.
10-106 - County bonds; registration; procedure; certified statement; record.
10-107 - County bonds; statement of county indebtedness; duties of county clerk; compensation.
10-110 - County bonds; retirement; taxes; levy and collection; duties of county clerk.
10-111 - County bonds; retirement; interest; payment; sinking fund; investment; conditions.
10-112 - County bonds; retirement; payment out of state; procedure.
10-113 - County treasurer; liability for bond funds.
10-114 - County bonds; payment; cancellation at maturity; procedure; expenses.
10-115 - Statement of business transacted; duties of county treasurer and county clerk.
10-120 - Precinct refunding bonds; sale authorized; use of proceeds.
10-123 - Precinct, township, or school district bonds; duty of local boards.
10-124 - Precinct, township, or school district bonds; duty of county clerk; record; contents; fee.
10-127 - Replacement bond; issuance authorized; when.
10-128 - Replacement bond; issuance; procedure.
10-129 - Replacement bond; issuance; notice.
10-130 - Replacement bond; blank bond; printing authorized.
10-131 - Bonds of municipal corporation or political subdivision; signatures.
10-132 - Bonds of municipal corporation or political subdivision; seal.
10-135 - Fully registered bonds; issuance authorized.
10-136 - Fully registered bonds; issuer; registrar; powers and duties.
10-137 - Bond anticipation notes; issuance authorized; conditions.
10-138 - Refunding warrants; issuance authorized; conditions.
10-139 - County treasurer or other officer holding funds; duties.
10-140 - Issuance of bonds; recording requirements.
10-141 - Registrar's records; available for inspection; when.
10-142 - Refunding bonds; issuance; conditions; application of proceeds.
10-143 - Sections, how construed.
10-144 - Bonds issued by agency or political subdivision; registration not required.
10-145 - Political subdivision; Internet auction system; authorized.
10-301 - Power and duty of political subdivisions.
10-302 - Conditions; procedure.
10-303 - Coupon bonds; issuance; conditions; limitations.
10-304 - Coupon bonds; terms; rate of interest; tax levy.
10-305 - Coupon bonds; record; duty of local board.
10-401 - County and city bonds; issuance; conditions; limitations.
10-402 - County and city bonds; election; proposition; contents.
10-403 - County and city bonds; proposition; rate of interest.
10-404 - County and city bonds; publication required; resubmission limited.
10-405 - County and city bonds; payment; tax levy.
10-408 - Courthouse bonds; election; procedure.
10-501 - Issuance; conditions; limitations.
10-503 - Sale; price; duties of county board; vote.
10-504 - Sale; proceeds; disposition; exchange.
10-505 - Payment; notice to holders; cancellation; form.
10-506 - Record; contents; duty of county treasurer.
10-508 - County board; adopt rules and regulations.
10-509 - Prohibited acts; penalty.
10-606 - City of the second class and village; issuance; limitations; election; notice.
10-609 - Precinct refunding bonds; issuance; condition.
10-610 - Precinct refunding bonds; terms; recitals; remedies.
10-611 - Precinct refunding bonds; payable to bearer; delivery; sale; price.
10-612 - Precinct refunding bonds; payment; tax levy.
10-616 - Refunding bonds; issuance by annexing city or village.
10-617 - Refunding bonds; construction of sections.
10-701 - Issuance; purposes; power of district officers.
10-703 - Issuance; election; resolution of board; petition; form; content; exception.
10-703.01 - Issuance; election; notice; counting of ballots; canvass of vote.
10-705 - Terms; rate of interest.
10-707 - Issuance; statement; contents; certification.
10-711 - Tax levy; sinking fund; exception; funds; distribution.
10-712 - School district, defined.
10-713 - Sinking fund; investment; requirements; interest earned; how credited.
10-714 - Payment out of state; procedure.
10-715 - Sinking fund; liability of county treasurer; unexpended balance; disposition.
10-716 - Payment; duty of county treasurer; expenses; record; duty of county clerk.
10-717 - Refunding bonds; authorized; limitation.
10-718 - Refunding bonds; required statement.
10-719 - Refunding bonds; election not required; payment; tax levy.
10-801 - Issuance; purposes; limit; election required; power of county board.
10-802 - Issuance; terms; election; notice; vote.
10-804 - Election; proposition; contents; payment; tax levy.
10-805 - Election; proposition; contents; sinking fund; creation; use.
10-807 - Misrepresentations for aid; penalty.
10-1102 - Applicability of act.
10-1106 - Enforcement; determination of default.
10-1202 - Legislative findings.
10-1204 - Credit facility; authorized; approval; terms and conditions.
10-1205 - Credit facility or related agreement; payments authorized.
10-1206 - Act; construction with other law or home rule charters.