 | Nebraska Laws Pertaining to
|
More Than One and Less Than All Classes | |
| §§ 19-1301 to 1304 | |
Statute: 19-1301
Sinking funds; gifts; authority to receive; real estate;
management.
All cities of the first and second class, and
all villages, are hereby empowered to receive money or property
by donation, bequest, gift, devise or otherwise for the benefit
of any one or more of the public purposes for which sinking funds
are established by the provisions of sections 19-1301 to 19-1304,
as stipulated by the donor. The title to the money or property
so donated shall vest in the local governing bodies of said
cities or villages, or in their successors in office, who shall
become the owners thereof in trust to the uses of said sinking
fund or funds; PROVIDED, if the donation be real estate, said
local governing bodies may manage the same as in the case of real
estate donated to their respective municipalities for municipal
library purposes under the provisions of sections 51-215 and
51-216.
Source:
Laws 1939, c. 12, § 1, p. 80; C.S.Supp.,1941, § 19-1301.
Statute: 19-1302
Sinking funds; purposes; tax to establish; amount of levy; when
authorized.
The local governing body of any city of the
first or second class or any village, subject to all the
limitations set forth in sections 19-1301 to 19-1304, shall have
the power to levy a tax of not to exceed ten and five-tenths
cents on each one hundred dollars in any one year upon the
taxable value of all the taxable property within such
municipality for a term of not to exceed ten years, in addition
to the amount of tax which may be annually levied for the
purposes of the adopted budget statement of such municipality,
for the purpose of establishing a sinking fund for the
construction, purchase, improvement, extension, original
equipment, or repair, not including maintenance, of any one or
more of the following public improvements, including acquisition
of any land incident to the making thereof: Municipal library;
municipal auditorium or community house for social or
recreational purposes; city or village hall; municipal public
library, auditorium, or community house in a single building;
municipal swimming pool and appurtenances thereto; municipal
jail; municipal building to house equipment or personnel of a
fire department, together with firefighting equipment or
apparatus; municipal park; municipal cemetery; municipal medical
clinic building, together with furnishings and equipment; or
municipal hospital. No such city or village shall be authorized
to levy the tax or to establish the sinking fund as provided in
this section if, having bonded indebtedness, such city or village
has been in default in the payment of interest thereon or
principal thereof for a period of ten years prior to the date of
the passage of the resolution providing for the submission of the
proposition for establishment of the sinking fund as required in
section 19-1303.
Source:
Laws 1939, c. 12, § 2, p. 80; C.S.Supp.,1941, § 19-1302;
R.S.1943, § 19-1302; Laws 1953, c. 287, § 35, p. 951;
Laws 1961, c. 59, § 1, p. 217; Laws 1967, c. 95, § 1, p. 292;
Laws 1969, c. 145, § 26, p. 669; Laws 1979, LB 187, § 80;
Laws 1992, LB 719A, § 80.
19-1303
Sinking fund; resolution to establish; contents; election; laws governing.
Before any sinking fund or funds shall be established or before any annual tax shall be levied for planned municipal improvement mentioned in section 19-1302, by any such city or village, its local governing body shall declare its purpose by resolution to submit to the qualified electors of the city or village at the next general municipal election the proposition to provide such city or village with the specific municipal improvement planned for consummation under sections 19-1301 to 19-1304. Such resolution of submission shall, among other things, set forth a clear description of the improvement planned, the estimated cost according to the prevailing costs, the amount of annual levy over a definite period of years, not exceeding ten years, required to provide such cost, and the specific name or designation for the sinking fund sought to be established to carry out the planned improvement, together with a statement of the proposition for placement upon the ballot at such election. Notice of the submission of the proposition, together with a copy of the official ballot containing the same, shall be published in its entirety three successive weeks before the day of the election in a legal newspaper published in the municipality or, if no legal newspaper is published therein, in some legal newspaper published in the county in which such city or village is located and of general circulation. If no legal newspaper is published in the county, such notice shall be published in some legal newspaper of general circulation in the county in which the municipality is located. No such sinking fund shall be established unless the same shall have been authorized by a majority or more of the legal votes of such city or village cast for or against the proposition. If less than a majority of the legal votes favor the establishment of the sinking fund, the planned improvement shall not be made, no annual tax shall be levied therefor, and no sinking fund or sinking funds shall be established in connection therewith, but such resolution of submission shall immediately be repealed. If the proposition shall carry at such election in the manner prescribed in this section, the local governing body and its successors in office shall proceed to do all things authorized under such resolution of submission but never inconsistent with sections 19-1301 to 19-1304. Provisions of the statutes of this state relating to election of officers, voting places, election apparatus and blanks, preparation and form of ballots, information to voters, delivery of ballots, conduct of elections, manner of voting, counting of votes, records and certificates of elections, and recounts of votes, so far as applicable, shall apply to voting on the proposition under this section.
Source:
Laws 1939, c. 12, § 3, p. 81; C.S.Supp.,1941, § 19-1303; R.S.1943, § 19-1303;
Laws 1961, c. 59, § 2, p. 217; Laws 1986, LB 960, § 14.
Annotations:
This section does not apply to creating a sinking fund for payment of interest
and principal of bonds. Talbott v. City of Lyons, 171 Neb. 186, 105 N.W.2d 918
(1960).
19-1304
Sinking funds; investments authorized; limitation upon use.
All funds received by municipal treasurers, by donation or by tax levy, as hereinbefore provided, shall, as they accumulate, be immediately invested by said treasurer, with the written approval of the local governing body, in the manner provided in section 77-2341. Whenever investments of aid sinking fund or funds are made, as aforesaid, the nature and character of the same shall be reported to the local governing body, and said investment report shall be made a matter of record by the municipal clerk in the proceedings of such local governing body. The sinking fund, or sinking funds, accumulated under the provisions of sections 19-1301 to 19-1304, shall constitute a special fund, or funds, for the purpose or purposes for which the same was authorized and shall not be used for any other purpose unless authorized by sixty percent of the qualified electors of said municipality voting at a general election favoring such change in the use of said sinking fund or sinking funds; PROVIDED, that the question of the change in the use of said sinking fund or sinking funds, when it shall fail to carry, shall not be resubmitted in substance for a period of one year from and after the date of said election.
Source:
Laws 1939, c. 12, § 4, p. 82; C.S.Supp.,1941, § 19-1304.
