10-503. Sale; price; duties of county board; vote.It shall be the duty of the county board of any county issuing bonds under the provisions of sections 10-501 to 10-509 to ascertain the highest price at which said bonds can be negotiated and to embrace in the proposition submitted to the qualified electors under said sections the minimum price at which said bonds shall be sold. If by the issuance of the proposed bonds, the rate of interest on the said indebtedness will be reduced, and the amount of the indebtedness will not be increased, a majority of the votes cast shall be sufficient to adopt the proposition.Source Laws 1879, § 134, p. 388; Laws 1883, c. 28, § 1, p. 192; R.S.1913, § 418; C.S.1922, § 335; C.S.1929, § 11-503; R.S.1943, § 10-503; Laws 1983, LB 421, § 13. Annotations Constitutionality of 1883 amendment sustained permitting issuance of refunding bonds by majority vote. State ex rel. Douglas County v. Cornell, 54 Neb. 72, 74 N.W. 432 (1898).
Nebraska Legal Code