10-402. County and city bonds; election; proposition; contents; additional levy.The proposition of the question must be accompanied by a provision to levy a tax annually for the payment of the interest on the bonds. An additional amount shall be levied and collected to pay the principal of such bonds.Source Laws 1869, § 2, p. 92; Laws 1870, § 1, p. 15; R.S.1913, § 406; C.S.1922, § 323; C.S.1929, § 11-402; R.S.1943, § 10-402; Laws 2023, LB92, § 43. Annotations Where proposition submitted provides for levying tax to pay interest but fails to provide levy for principal, bond issue may be enjoined. Cook v. City of Beatrice, 32 Neb. 80, 48 N.W. 828 (1891). Submission of proposition to levy tax is mandatory and must be complied with in issuing bonds. State ex rel. Berry v. Babcock, 21 Neb. 599, 33 N.W. 247 (1887). If proposition submitted does not include provision to levy tax for payment of interest, bonds are void. Hamlin v. Meadville, 6 Neb. 227 (1877).
Nebraska Legal Code