Neb. Rev. Stat. § 15-271
This is the official text of Neb. Rev. Stat. § 15-271, part of Nebraska’s Rev. Stat — part of the compiled statutory law of Nebraska, published by the state as "Rev. Stat." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
View Statute 15-271
Official statutory text
(1) In order to pay the cost required by any purchase, construction, lease, or condemnation of property and equipping of offstreet motor vehicle parking facilities, or the enlargement of presently owned offstreet motor vehicle parking facilities, a city of the primary class may issue revenue bonds to provide the funds for such improvements, except that any such city may not issue revenue bonds under sections 15-269 to 15-276 to acquire any privately owned parking garage or privately owned commercial parking lot having space for the parking of two hundred or more motor vehicles.
(2) Any ordinance authorizing such revenue bonds may contain such covenants and provisions to protect and safeguard the security of the holders of such bonds as shall be deemed necessary to assure the prompt payment of the principal thereof and the interest thereon.
(3) Such revenue bonds shall not be sold at discounts exceeding five percent, and such bonds shall not bear interest in excess of the rate of interest specified in section 45-104.01 , as such rate may from time to time be adjusted by the Legislature. Such bonds shall be issued for such terms as the ordinance authorizing them shall prescribe but shall not mature later than fifty years after the date of issuance thereof.
(4) Any such revenue bonds which may be issued shall not be included in computing the maximum amount of bonds which the issuing city of the primary class may be authorized to issue under its charter or any statute of this state. If any city has installed or installs onstreet parking meters, it may pledge all or any part of the revenue of such parking meters, not previously pledged, as security for the bonds authorized by this section.
Laws 1967, c. 51, § 3, p. 186;
Laws 1980, LB 933, § 6;
Laws 1981, LB 167, § 7;
Laws 2020, LB1003, § 81.
(2) Any ordinance authorizing such revenue bonds may contain such covenants and provisions to protect and safeguard the security of the holders of such bonds as shall be deemed necessary to assure the prompt payment of the principal thereof and the interest thereon.
(3) Such revenue bonds shall not be sold at discounts exceeding five percent, and such bonds shall not bear interest in excess of the rate of interest specified in section 45-104.01 , as such rate may from time to time be adjusted by the Legislature. Such bonds shall be issued for such terms as the ordinance authorizing them shall prescribe but shall not mature later than fifty years after the date of issuance thereof.
(4) Any such revenue bonds which may be issued shall not be included in computing the maximum amount of bonds which the issuing city of the primary class may be authorized to issue under its charter or any statute of this state. If any city has installed or installs onstreet parking meters, it may pledge all or any part of the revenue of such parking meters, not previously pledged, as security for the bonds authorized by this section.
Laws 1967, c. 51, § 3, p. 186;
Laws 1980, LB 933, § 6;
Laws 1981, LB 167, § 7;
Laws 2020, LB1003, § 81.
Status: in_force · Read it on the official government site
Need a lawyer in Nebraska?
Find a Nebraska lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.