Statute 12 1001

12-1001. Power to borrow money; issuance of bonds.Any municipality maintaining and operating a cemetery either within or without its corporate limits shall have the power to borrow money and pledge the property and credit of the municipality upon its municipal bonds or otherwise for the purpose of enlarging or improving such cemetery in an amount not to exceed five percent of the taxable valuation of the property in such municipality. No such bonds shall be issued until they have been authorized by a majority vote of the electors of the municipality voting on the proposition of their issuance at a general municipal election or at a special municipal election called for the submission of such proposition.Source Laws 1957, c. 19, § 1(1), p. 150; Laws 1971, LB 534, § 8; Laws 1992, LB 719A, § 28.