Nebraska § 31-371 - Refunding bonds; issuance; power of board; limitation; interest; term.
Full text of Nebraska Revised Statutes of Nebraska § 31-371 — Refunding bonds; issuance; power of board; limitation; interest; term., with citation guidance and answers to common questions.
§ 31-371. Refunding bonds; issuance; power of board; limitation; interest; term.
The board of supervisors of any drainage district in the State of Nebraska organized under and by virtue of the provisions of sections 31-301 to 31-369, and any amendments thereto, which has issued, or may hereafter issue valid interest-bearing bonds under the provisions of said sections, and which bonds are now or may hereafter be outstanding and unpaid, may take up and pay off any such bonds whenever the same can be brought about by lawful means, by the issue and sale or the issue and exchange therefor of the refunding bonds of such drainage district; but bonds so to be issued shall not exceed the amount lawfully owing and unpaid upon the bond or bonds so sought to be taken up and paid. Bonds so issued shall not bear interest greater in rate or amount per annum than the bonds so sought to be taken up and paid, and shall be made to run for not more than twenty years from date of issuance.
Source: official Nebraska text · Last verified 2026-08-27
Frequently Asked Questions About Nebraska § 31-371
What does Revised Statutes of Nebraska § 31-371 cover?
Section 31-371 ("Refunding bonds; issuance; power of board; limitation; interest; term.") is part of the Revised Statutes of Nebraska, the codified statutory law of Nebraska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nebraska § 31-371?
A common citation format is "Revised Statutes of Nebraska § 31-371" (Nebraska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nebraska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nebraska official source linked on this page or consult a licensed Nebraska attorney.
How does Nebraska § 31-371 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nebraska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nebraska.