14-1225 Bridges; state and political subdivisions; competing bridges; limitations upon, for protection of bondholders. - Nebraska Statutes

14-1225. Bridges; state and political subdivisions; competing bridges; limitations upon, for protection of bondholders.Neither the State of Nebraska nor any political subdivision thereof shall limit or restrict the rights and powers granted in sections 14-1201 to 14-1252 to the detriment of owners of outstanding bonds nor shall such state or political subdivision authorize the construction or itself construct any competing bridge within a distance of one mile on either side of the bridge unless and until all of such bonds, together with the interest thereon, have been fully paid and canceled, unless other adequate provisions shall have been made for the protection and guaranty thereof. SourceLaws 1929, c. 176, § 11, p. 621; C.S.1929, § 14-1211; R.S.1943, § 14-1225.