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Neb. Rev. Stat. § 70-1103

Public power districts; no impairment of obligation to bondholders; municipal operation; books and records; revenue

Laws 1963, c. 398, § 4, p. 1271.

Nothing contained in sections 70-650.01 and 70-1101 to 70-1106 shall in any manner be construed so as to impair the obligations of the public power district to the holders of its outstanding bonds. The municipalities shall properly operate and maintain such system according to the obligations of the district to its bondholders. The municipalities shall maintain and keep separate books and records of the operations of the property of the district in the same manner as such books and records were kept by the district and shall account and pay to the district the same revenue from the property it acquires which the district would have received from the property it transfers to the city if the district had remained the operator of such property.

Official source: Nebraska Legislature. Reproduced from public-domain Nebraska statutes; confirm against the official source for the current text. Not legal advice.