United States — Nebraska
§ 10-130. Replacement bond; blank bond; printing authorized.
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Issuing bodies described in section 10-127 may print blank bonds or other evidences of indebtedness for future replacement needs after April 30, 1971.
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United States — Nebraska
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Issuing bodies described in section 10-127 may print blank bonds or other evidences of indebtedness for future replacement needs after April 30, 1971.
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If a bond or similar debt instrument is signed by more than one officer, one signature must be handwritten; the other signatures may be facsimile. Facsimile signatures are also allowed on related interest coupons.
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When certain public officers must seal a bond or evidence of indebtedness, a printed facsimile of the seal may be used instead.
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Certain local public entities may pay fiscal and consultant fees for issuing and selling bonds or similar debt, using bond-sale proceeds or other available funds; that payment is not treated as a discount on the sale price.
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This provision defines key bond-finance terms used in sections 10-134 to 10-141.
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An authorized issuer may issue bonds as fully registered bonds, and those bonds may be executed with facsimile signatures and bear a facsimile seal.
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The issuer must appoint a registrar and paying agents for each issue of fully registered bonds, and the registrar must handle ownership records and transfers as determined and accepted. The issuer can also allow book-entry ownership and set a record payment date.
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An issuer may use bond anticipation notes to temporarily finance certain improvement costs, except for sanitary and improvement districts.
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Eligible issuers may issue refunding warrants to pay and redeem outstanding warrants, except sanitary and improvement districts.
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A county treasurer or other officer holding an issuer’s funds must transfer the requested funds to the issuer or paying agent.
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The issuer must keep a record of certain bond issuance information and file it with the Auditor of Public Accounts within 60 days after initial issuance and delivery of all fully registered bonds.
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Bond ownership records kept by a registrar are not public records and may be inspected only under a court order, a qualifying subpoena, or the governing bond ordinance.
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Certain Nebraska public issuers may issue refunding bonds to replace outstanding interest-bearing bonds and may set the redemption terms.
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Sections 10-134 to 10-142 are an additional and complete method for doing the authorized acts, and they control if inconsistent with other laws or home rule charters.
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Bonds issued after May 8, 2001, by a state agency or political subdivision must not be registered in the office of the Auditor of Public Accounts.
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A political subdivision may sell authorized bonds through an Internet auction system if its governing body allows it.
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If a bond or interest coupon is presented for payment but the paying fund lacks enough money, the paying agent must register it, record details, and return it; it cannot be presented or registered before maturity.
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Certain local government units are authorized and required to compromise their indebtedness according to the procedure stated later in the law.
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If the board is satisfied that the local entity cannot pay its debt and one-third of resident freeholders petition for compromise, the listed local boards must negotiate with the debt owners or holders.
United States — Nebraska
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Local governing bodies must issue coupon bonds and deliver them to holders of the indebtedness when the stated conditions are met, but only within stated debt limits and exceptions.