Bill > LB126

This bill modifies Nebraska state law regarding the redemption of bonds issued by various governmental subdivisions, making several key changes to existing provisions. The bill updates section 10-126 to add an exception for county bonds sold through a competitive underwriting process, allowing them more flexibility in redemption terms. It also modifies the language around bond call procedures, giving governing bodies more discretion in how they can call (redeem) bonds, including the ability to condition redemption on future refinancing or fund availability. The bill removes some prescriptive details about bond call notices, such as specific mailing requirements and resolution filing procedures, potentially simplifying the administrative process. Additionally, it maintains existing provisions that allow certain types of bonds (like those from public power districts or large school districts) to have their own unique redemption terms. The changes appear aimed at providing governmental entities more operational flexibility in managing their bond portfolios, while maintaining core protections for bondholders. The bill ultimately repeals the original version of section 10-126, replacing it entirely with the new, modified language.

Military Affairs and Security

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=58036