12-507 Debts; power to contract; limitations. - Nebraska Statutes

12-507. Debts; power to contract; limitations.No debts shall be contracted in the anticipation of future receipts except for purchasing, laying out, enclosing and embellishing the grounds and avenues, and erecting buildings, vaults, a chapel, a crematory, a mausoleum and other structures, for which a debt or debts may be contracted, not exceeding eighty-five thousand dollars in the aggregate, to be paid out of future receipts. SourceR.S.1866, c. 25, § 49, p. 207; Laws 1885, c. 22, § 1, p. 182; Laws 1905, c. 39, § 1, p. 275; Laws 1911, c. 27, § 1, p. 177; R.S.1913, § 683; Laws 1917, c. 12, § 1, p. 71; C.S.1922, § 592; Laws 1925, c. 138, § 1, p. 365; C.S.1929, § 13-505; Laws 1941, c. 18, § 1, p. 104; C.S.Supp.,1941, § 13-505; R.S.1943, § 12-507. AnnotationsCemetery association is authorized to incur indebtedness not exceeding eighty-five thousand dollars. Root v. Morning View Cemetery Assn., 174 Neb. 438, 118 N.W.2d 633 (1962).Funds may be appropriated to improvement of avenues leading thereto. Greenwood Cemetery v. City of Wayne, 110 Neb. 300, 193 N.W. 734 (1923).