This bill amends section 10-126 of the Reissue Revised Statutes of Nebraska, which governs the redemption of certain bonds issued by various governmental subdivisions and municipal corporations in the state. The amendments introduce new provisions that allow for the redemption of bonds sold by counties to an underwriting firm through a competitive sale, as well as the method of sale described in section 10-145. Additionally, the bill clarifies that bonds issued by districts created under Chapters 31 or 39 can be redeemed by the annexing municipality after five years from the date of issuance, provided the district has been annexed.

Furthermore, the bill modifies the conditions under which bonds may be called for redemption. It allows the governing body of the obligor to pass a resolution or ordinance to call bonds, which may include conditions related to the issuance of refunding bonds. The previous requirement for a specific procedure for calling and prepayments has been changed to allow for more flexibility. The original section 10-126 is repealed, consolidating the updated provisions into the amended statute.

Statutes affected:
Introduced: 10-126