The League of Nebraska Municipalities is arguing against limits on a type of financing.

Certificates of Participation – or COPs – allow an investor to purchase a share of lease revenues, instead of the bond.

Cities and towns can use those instead of putting a project up for a bond vote.

League executive director Lynn Rex says voters ensure a system of checks and balances on elected officials.

Tim Hruza with the Lincoln Independent Business Association says it is wrong to issue bonds without a majority of community support.

An interim study committee of the legislature heard testimony on the issue.