Change provisions relating to redemption of bonds of political subdivisions

LB 126 modifies Nebraska's rules for redeeming local government bonds. It allows counties, cities, school districts, and other local entities to redeem bonds after five years from issuance (instead of requiring specific redemption terms), with exceptions for public power districts, large revenue bonds, university bonds, and certain districts. The bill also adjusts call premiums: most entities may pay up to 4% of par value for early redemption, while Chapter 31/39 districts may pay up to 2%. These changes apply to bonds issued after September 7, 1947, affecting how local governments manage debt repayment.