Chapter 58 — MONEY AND FINANCING
293 sections in this chapter.
Neb. Rev. Stat. § 58-101 Money; denominations; public payments.
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The money of account of this state is the dollar, cent and mill, and all public accounts, and the proceedings of all courts in relation to money, shall be kept and expressed in money of the above denominations.
Neb. Rev. Stat. § 58-102 Money; demand expressed in another denomination; effect.
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The provisions of section 58-101 shall not in any manner affect any demand expressed in money of another denomination; but such demand, in any suit or proceeding affecting the same, shall be reduced to the denominations in that section given.
Neb. Rev. Stat. § 58-103 Cash transactions or wages; method of rounding; applicability; effect.
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(1) Any person selling goods or services in a cash transaction, entering into any transaction that results in a payment or transfer of cash between the parties to the transaction, or paying cash wages to an employee as compensation: (a) Except as provided in subdivision (1)(c) of…
Neb. Rev. Stat. § 58-201 Act, how cited.
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Sections 58-201 to 58-274 shall be known and may be cited as the Nebraska Investment Finance Authority Act.
Neb. Rev. Stat. § 58-202 Cost and availability of financing; legislative findings and declarations.
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(1) The Legislature hereby finds and declares that: (a) The high cost of agricultural loans and the general unavailability of such loans at favorable rates and terms for farmers, particularly beginning farmers, and other agricultural enterprises have resulted in decreased crop, l…
Neb. Rev. Stat. § 58-203 Authority; purpose for creation.
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(1) The problems enumerated in section 58-202 cannot alone be remedied through the operation of private enterprise or individual communities or both but may be alleviated through the creation of a quasi-governmental body to: (a) Encourage the investment of private capital and sti…
Neb. Rev. Stat. § 58-204 Finance and development entities; legislative findings.
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The Legislature finds that the Nebraska Mortgage Finance Fund, the Nebraska Development Finance Fund, and the Agricultural Development Corporation have effectuated their respective public purposes.
Neb. Rev. Stat. § 58-205 Consolidation of various finance and development entities; legislative findings.
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The Legislature further finds that the use of a single staff by the Nebraska Mortgage Finance Fund, the Nebraska Development Finance Fund, and the Agricultural Development Corporation has proven to be very efficient and that it would promote an even more efficient operation of th…
Neb. Rev. Stat. § 58-206 Assistance and expertise; provided by single finance and development entity; legislative findings.
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The Legislature further finds that: (1) In many instances local communities, citizens of the state, and private enterprise lack the knowledge and technical expertise necessary to take advantage of the public purpose financings offered by the Nebraska Mortgage Finance Fund, the Ne…
Neb. Rev. Stat. § 58-207 Definitions, where found.
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For purposes of the Nebraska Investment Finance Authority Act, unless the context otherwise requires, the definitions found in sections 58-207.01 to 58-225 shall be used.
Neb. Rev. Stat. § 58-207.01 Abatement, defined.
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Abatement shall include, but not be limited to, any (1) inspection and testing regarding environmental hazards, (2) maintenance to reduce, lessen, put an end to, diminish, moderate, decrease, control, dispose of, or eliminate environmental hazards, (3) removal or encapsulation of…
Neb. Rev. Stat. § 58-207.02 Accessibility barrier, defined.
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Accessibility barrier shall mean anything which impedes entry into, exit from, or use of any building or facility by all people.
Neb. Rev. Stat. § 58-207.03 Accessibility barrier elimination, defined.
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Accessibility barrier elimination shall include, but not be limited to, inspection for and removal of accessibility barriers, maintenance to reduce, lessen, put an end to, diminish, control, dispose of, or eliminate accessibility barriers, related restoration or replacement of fa…
Neb. Rev. Stat. § 58-208 Agriculture or agricultural enterprise, defined.
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Agriculture or agricultural enterprise shall mean the real and personal property constituting farms and ranches.
Neb. Rev. Stat. § 58-209 Authority, defined.
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Authority shall mean the Nebraska Investment Finance Authority.
Neb. Rev. Stat. § 58-209.01 Blighted area, defined.
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Blighted area has the same meaning as in section 18-2103.
Neb. Rev. Stat. § 58-210 Bond, defined.
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Bond shall mean any bond, note, debenture, interim certificate, bond anticipation note, or other evidence of financial indebtedness.
Neb. Rev. Stat. § 58-210.01 Environmental hazard, defined.
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Environmental hazard shall mean any contamination of the air, water, or land surface or subsurface caused by any substance adversely affecting human health or safety, if such substance has been declared hazardous by a federal or state statute, rule, or regulation.
Neb. Rev. Stat. § 58-210.02 Economic-impact project, defined.
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(1) Economic-impact project means: (a) Any of the following, whether or not in existence, financed in whole or in part through the use of the federal new markets tax credit described in section 45D of the Internal Revenue Code, and located in a low-income community designated pur…
Neb. Rev. Stat. § 58-211 Financing agreement, defined.
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Financing agreement shall mean any contractual obligation between the authority and another entity with respect to the financing which shall include without limitation refinancing of a project or projects and shall include without limitation a lease agreement, loan agreement, sal…
Neb. Rev. Stat. § 58-211.01 First-time homebuyer, defined.
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First-time homebuyer shall mean a low-income or moderate-income person who has had no present ownership interest in his or her principal residence at any time during the three-year period ending on the date a mortgage loan financed by the authority is received.
Neb. Rev. Stat. § 58-212 Hospital or nursing home, defined.
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Hospital or nursing home shall mean (1) any private nonprofit hospital, nonprofit nursing home, corporation, association, or institution, (2) any public hospital, public nursing home, or institution authorized by law to provide or operate health facilities in this state, and (3) …
Neb. Rev. Stat. § 58-213 Insurer, defined.
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Insurer shall mean (1) an agency, department, administration, or instrumentality, corporate or otherwise, of or in the United States Department of Housing and Urban Development, the Farmers Home Administration of the United States Department of Agriculture, or the United States D…
Neb. Rev. Stat. § 58-214 Lender, defined.
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Lender shall mean (1) any federally chartered or state-chartered bank, federal land bank, production credit association, bank for cooperatives, savings and loan association, building and loan association, or small business investment company, (2) the Wastewater Treatment Faciliti…
Neb. Rev. Stat. § 58-215 Loan, defined.
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Loan shall mean any lending arrangement pursuant to a financing agreement.
Neb. Rev. Stat. § 58-216 Low-income or moderate-income person, defined.
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Low-income or moderate-income person shall mean any person irrespective of race, religion, creed, national origin, sex, or military or veteran status determined by the authority to be eligible for such assistance as is made available by the Nebraska Investment Finance Authority A…
Neb. Rev. Stat. § 58-216.01 Microenterprise, defined.
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Microenterprise shall mean any business, whether new or existing, with less than ten employees, less than twenty-five thousand dollars of net assets, and less than one hundred thousand dollars of annual sales.
Neb. Rev. Stat. § 58-217 Mortgage, defined.
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Mortgage shall mean a mortgage deed, deed of trust, or other instrument securing a mortgage loan and constituting a lien on real property held in fee simple or on a leasehold under a lease having a remaining term at the time such mortgage is acquired of not less than the term for…
Neb. Rev. Stat. § 58-218 Mortgage loan, defined.
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Mortgage loan shall mean an interest-bearing obligation which may be secured by a mortgage or such other security as the authority deems appropriate.
Neb. Rev. Stat. § 58-219 Project, defined.
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Project shall mean one or more of the following: (1)(a) Rental housing; (b) Residential housing; and (c) Residential energy conservation devices; (2) Agriculture or agricultural enterprise; (3) Any land, building, or other improvement, any real or personal property, or any equipm…
Neb. Rev. Stat. § 58-219.01 Public agency, defined.
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Public agency means any: (1) County, city, or village; school, drainage, tax, improvement, or other district; local or regional housing agency; department, division, or political subdivision of this state or another state; housing agency or housing trust of this state or another …
Neb. Rev. Stat. § 58-220 Rental housing, defined.
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Rental housing shall mean a specific work or improvement within this state undertaken primarily to provide rental dwelling accommodations for low-income or moderate-income persons, which work or improvement shall include the acquisition, construction, reconstruction, or rehabilit…
Neb. Rev. Stat. § 58-221 Residential energy conservation device, defined.
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Residential energy conservation device shall mean any prudent means of reducing the demands for conventional fuels or increasing the supply or efficiency of these fuels in residential housing and shall include, but not be limited to: (1) Caulking and weather stripping of doors an…
Neb. Rev. Stat. § 58-222 Residential housing, defined.
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Residential housing shall mean a specific work or improvement within this state undertaken primarily to provide owner-occupied dwelling accommodations for low-income and moderate-income persons, which work or improvement shall include the acquisition, construction, reconstruction…
Neb. Rev. Stat. § 58-223 Residential energy conservation loan program, defined.
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Residential energy conservation loan program shall mean a system by which loans and mortgage loans for residential energy conservation devices are made to low-income and moderate-income persons pursuant to the Nebraska Investment Finance Authority Act.
Neb. Rev. Stat. § 58-223.01 School, defined.
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School shall mean (1) any school board or school district and (2) any private for-profit or not-for-profit institution, the primary purpose of which is to provide educational instruction if such institution is available for attendance by members of the general public.
Neb. Rev. Stat. § 58-224 State, defined.
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State shall mean the State of Nebraska.
Neb. Rev. Stat. § 58-225 Utility, defined.
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Utility shall mean an entity which provides electricity or natural gas to retail customers in the state.
Neb. Rev. Stat. § 58-226 Nebraska Investment Finance Authority; created; members; qualifications.
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(1) There is hereby created a body politic and corporate, not a state agency, but an independent instrumentality exercising essential public functions, to be known as the Nebraska Investment Finance Authority. The authority shall have the powers and duties set forth in the Nebras…
Neb. Rev. Stat. § 58-227 Authority; public members; terms; vacancies; removal.
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Of the six public members first appointed to the authority, three shall be appointed to terms of office expiring on January 15, 1985, and the remaining three to terms of office expiring on January 15, 1987. All subsequent appointments shall be for terms of four years. Vacancies i…
Neb. Rev. Stat. § 58-228 Authority; chairperson; officers; expenses.
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The Director of Economic Development shall be the chairperson of the authority. The members shall elect from among the membership a vice-chairperson and such other officers as they may determine. Members shall receive no compensation for their services but shall be reimbursed for…
Neb. Rev. Stat. § 58-229 Authority; quorum; vacancy; effect.
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The powers of the authority shall be vested in the members. Five members of the authority shall constitute a quorum. The affirmative vote of at least five members shall be necessary for any action to be taken by the authority. No vacancy in the membership of the authority shall i…
Neb. Rev. Stat. § 58-230 Meetings; when held; virtual conferencing authorized.
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Meetings of the members of the authority shall be held at least once every three months to attend to the business of the authority and may be held at the call of the chairperson or whenever any five members so request. Such meetings shall at all times be subject to the Open Meeti…
Neb. Rev. Stat. § 58-231 Executive director; powers and duties.
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The members of the authority shall appoint an executive director who shall be an employee but not a member of the authority and who shall serve at the pleasure of the members and receive compensation fixed by the members. The executive director shall serve as the ex officio secre…
Neb. Rev. Stat. § 58-232 Executive director; meetings; records; duties.
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The executive director shall attend the meetings of the members of the authority, keep a record of the proceedings of the authority, and maintain and be custodian of all books, documents, and papers filed with the authority, of the minute book or journal of the authority, and of …
Repealed. Laws 1991, LB 253, § 69.
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[Repealed or reserved.]
Neb. Rev. Stat. § 58-234 Authority; personnel.
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The authority may employ legal counsel, technical experts, and such other officers, agents, and employees, permanent or temporary, as it deems necessary to carry out the efficient operation of the authority and shall determine qualifications, duties, compensation, and terms of of…
Neb. Rev. Stat. § 58-235 Authority; member or employee; conflict of interest; disclosure.
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Any member or employee of the authority who has, will have, or later acquires any direct or indirect interest in any transaction with the authority shall immediately disclose the nature and extent of such interest in writing to the authority as soon as he or she has knowledge of …
Neb. Rev. Stat. § 58-236 Officer or employee of state; membership on or service to authority; how treated.
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Notwithstanding any other law, no officer or employee of this state shall be deemed to have forfeited or shall forfeit his or her office or employment by reason of acceptance of membership in the authority or of providing services to such authority.
Neb. Rev. Stat. § 58-237 Authority; members; executive director; surety bond.
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Before the issuance of any bonds under the Nebraska Investment Finance Authority Act, each member of the authority shall execute a surety bond in the penal sum of twenty-five thousand dollars. The executive director of the authority shall execute a surety bond in the penal sum of…