Chapter 58, MONEY AND FINANCING
211 sections in this chapter.
Neb. Rev. Stat. § 58-510 Pledge of taxes; authorized.
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In the proceedings for the issuance of bonds, the making of loans or advances of money, or the incurring of any indebtedness, whether funded, refunded, assumed, or otherwise, by a contracting public body to finance or refinance, in whole or in part, a redevelopment project, the p…
Neb. Rev. Stat. § 58-511 Penal bond; required.
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Any company entering into a project agreement for the undertaking of a redevelopment project pursuant to the Nebraska Redevelopment Act which contains the provision outlined in section 58-507 shall be required before commencing work to execute, in addition to all bonds that may b…
Neb. Rev. Stat. § 58-512 Powers supplemental; act, how construed.
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The powers conferred by the Nebraska Redevelopment Act shall be in addition and supplemental to the powers conferred by any other law and shall be independent of and in addition to any other provision of the laws of the state with reference to the matters covered thereby and shal…
Neb. Rev. Stat. § 58-513 Contracting public body; powers.
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The contracting public body shall have all the powers necessary or convenient to carry out and effectuate the purposes and provisions of the Nebraska Redevelopment Act, including, but not limited to, the following powers: (1) All authority, powers, and duties which such contracti…
Neb. Rev. Stat. § 58-514 Bonds; issuance.
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The contracting public body may issue bonds from time to time for any of its corporate purposes as specified in a project agreement or with respect to the acquisition, rehabilitation, or redevelopment of property in a designated blighted and substandard area or as otherwise permi…
Neb. Rev. Stat. § 58-515 Bonds; liability; how paid; notes.
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The contracting public body, the members of the governing body of the contracting public body, and any person executing the bonds shall not be liable personally on the bonds by reason of the issuance of the bonds. The bonds and other obligations of the contracting public body, an…
Neb. Rev. Stat. § 58-516 Bonds; how issued.
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Bonds of a contracting public body shall be authorized by resolution of its governing body and may be issued in one or more series and shall bear such date or dates, be payable upon demand or mature at such time or times, bear interest at such rate or rates, be in such denominati…
Neb. Rev. Stat. § 58-517 Bonds; how sold.
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The bonds may be sold by the contracting public body in such manner and for such price as the contracting public body determines, at a discount, at par, or at a premium, at private negotiated sale or at public sale after notice published prior to such sale in a legal newspaper ha…
Neb. Rev. Stat. § 58-518 Bonds; signatures; negotiability.
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In case any of the members or officers of the contracting public body whose signatures appear on any bonds shall cease to be such members or officers before the delivery of such bonds, such signatures shall, nevertheless, be valid and sufficient for all purposes, as if such membe…
Neb. Rev. Stat. § 58-519 Bonds; presumption of validity.
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In any suit, action, or proceedings involving the validity or enforceability of any bond of a contracting public body or the security therefor brought after the lapse of thirty days after the bonds are issued, any such bond reciting in substance that it has been issued by the con…
Neb. Rev. Stat. § 58-520 Bonds; leases; contracting public body; powers.
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In connection with the issuance of bonds or the incurring of obligations under leases and in order to secure the payment of such bonds or obligations, the contracting public body, in addition to its other powers, may: (1) Pledge all or any part of its gross or net rents, fees, or…
Neb. Rev. Stat. § 58-521 Default; contracting public body; powers.
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The contracting public body may by resolution, trust indenture, mortgage, lease, or other contract confer upon any obligee holding or representing a specified amount in bonds, the right to, in addition to all rights that may otherwise be conferred, upon the happening of an event …
Neb. Rev. Stat. § 58-522 Obligee; rights.
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An obligee of a contracting public body shall have the right in addition to all other rights which may be conferred upon such obligee, subject only to any contractual restrictions binding upon such obligee: (1) By mandamus, suit, action, or proceeding at law or in equity to compe…
Neb. Rev. Stat. § 58-523 Bonds; authorized investment.
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All public officers, municipal corporations, political subdivisions, and public bodies; all banks, trust companies, bankers, savings banks, financial institutions, building and loan associations, savings and loan associations, investment companies, and other persons carrying on a…
Neb. Rev. Stat. § 58-524 Bond validation proceeding; appeal.
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(1) Any contracting public body may determine its authority to incur indebtedness and to apply or pledge the ad valorem taxes, all as provided in the Nebraska Redevelopment Act, and the legality of all proceedings in connection therewith. For this purpose a petition may be filed …
Neb. Rev. Stat. § 58-525 Bonds or certificates; validation.
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(1) Bonds or certificates, when validated under section 58-524, shall have stamped or written on the bond or certificate, by the proper officers of such contracting public body issuing them, a statement in substantially the following form: "This bond is one of a series of bonds w…
Neb. Rev. Stat. § 58-526 Public body or taxing body; supplemental powers.
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In addition to any other provisions governing any public body or taxing body set forth in the Nebraska Redevelopment Act, for the purpose of aiding and cooperating in the planning, undertaking, or carrying out of a redevelopment project located within the area in which it is auth…
Neb. Rev. Stat. § 58-527 Sale, conveyance, lease, or agreement; how made.
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Any sale, conveyance, lease, or agreement provided for in section 58-526 may be made by a public body or taxing body without appraisal, public notice, advertisement, or public bidding.
Neb. Rev. Stat. § 58-528 Contracting public body; estimate of expenses; appropriations; bonds authorized.
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A contracting public body may, at such time as it may deem necessary, file with the governing body or governing bodies to which it relates an estimate of the amounts necessary to be appropriated by the governing body or governing bodies to defray the expense of the contracting pu…
Neb. Rev. Stat. § 58-529 School districts; additional expenses; appropriations.
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Any school district impacted by a project approved under the Nebraska Redevelopment Act, the Invest Nebraska Act, or the Quality Jobs Act may file with the governing body an estimate of the amount of additional expenses of the school district as a result of the project which is i…
Neb. Rev. Stat. § 58-530 Presumption of compliance.
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Any instrument executed by a contracting public body and purporting to convey any right, title, or interest in any property under the Nebraska Redevelopment Act shall be conclusive evidence of compliance with the provisions of the act insofar as title or other interest of any bon…
Neb. Rev. Stat. § 58-531 Act; how construed.
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The Nebraska Redevelopment Act shall be full authority for the creation of or to act as a contracting public body by a city or cities and for the exercise of the powers of the act granted to a city or cities and to such contracting public bodies, and no action, proceeding, or ele…
Neb. Rev. Stat. § 58-532 Act; when operative.
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The Nebraska Redevelopment Act becomes operative on February 1, 1995, and shall apply to all area applications and project applications filed on or after such date.
Neb. Rev. Stat. § 58-533 Filing of applications; limitation.
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There shall be no area applications or project applications filed on or after February 1, 2000, without further authorization of the Legislature, except that all area applications, all project applications, and all project agreements pending, approved, or entered into before such…
Neb. Rev. Stat. § 58-610 Act, how cited.
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Sections 58-610 to 58-619 shall be known and be cited as the Nebraska Uniform Prudent Management of Institutional Funds Act.
Neb. Rev. Stat. § 58-611 Definitions.
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For purposes of the Nebraska Uniform Prudent Management of Institutional Funds Act: (1) Charitable purpose means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or any other purpose the achievement…
Neb. Rev. Stat. § 58-612 Standard of conduct in managing and investing institutional fund.
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(a) Subject to the intent of a donor expressed in a gift instrument, an institution, in managing and investing an institutional fund, shall consider the charitable purposes of the institution and the purposes of the institutional fund. (b) In addition to complying with the duty o…
Neb. Rev. Stat. § 58-613 Appropriation for expenditure or accumulation of endowment fund; rules of construction.
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(a) Subject to the intent of a donor expressed in the gift instrument, an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for the uses, benefits, purposes, and duration for which the endowment fund is…
Neb. Rev. Stat. § 58-614 Delegation of management and investment functions.
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(a) Subject to any specific limitation set forth in a gift instrument or in law other than the Nebraska Uniform Prudent Management of Institutional Funds Act, an institution may delegate to an external agent the management and investment of an institutional fund to the extent tha…
Neb. Rev. Stat. § 58-615 Release or modification of restrictions on management, investment, or purpose.
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(a) If the donor consents in a record, an institution may release or modify, in whole or in part, a restriction contained in a gift instrument on the management, investment, or purpose of an institutional fund. A release or modification may not allow a fund to be used for a purpo…
Neb. Rev. Stat. § 58-616 Reviewing compliance.
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Compliance with the Nebraska Uniform Prudent Management of Institutional Funds Act is determined in light of the facts and circumstances existing at the time a decision is made or action is taken, and not by hindsight.
Neb. Rev. Stat. § 58-617 Application to existing institutional funds.
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The Nebraska Uniform Prudent Management of Institutional Funds Act applies to institutional funds existing on or established after September 1, 2007. As applied to institutional funds existing on September 1, 2007, the act governs only decisions made or actions taken on or after …
Neb. Rev. Stat. § 58-618 Relation to Electronic Signatures in Global and National Commerce Act.
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The Nebraska Uniform Prudent Management of Institutional Funds Act modifies, limits, and supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. 7001 et seq., as the act existed on September 1, 2007, but does not modify, limit, or supersede section 101…
Neb. Rev. Stat. § 58-619 Uniformity of application and construction.
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In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.
Neb. Rev. Stat. § 58-701 Act, how cited.
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Sections 58-701 to 58-713 shall be known and may be cited as the Nebraska Affordable Housing Act.
Neb. Rev. Stat. § 58-702 Legislative findings.
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The Legislature finds that current economic conditions, lack of available affordable housing, federal housing policies that have placed an increasing burden on the state, and declining resources at all levels of government adversely affect the ability of Nebraska's citizens to ob…
Neb. Rev. Stat. § 58-703 Affordable Housing Trust Fund; created; use.
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(1) The Affordable Housing Trust Fund is created. The fund shall receive money pursuant to section 76-903 and may include appropriations from the Legislature, transfers authorized by the Legislature, grants, private contributions, repayment of loans, and funds from all other sour…
Neb. Rev. Stat. § 58-705 Department of Economic Development; Affordable Housing Trust Fund; duties.
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The Department of Economic Development shall use the Affordable Housing Trust Fund to finance loans, grants, subsidies, credit enhancements, and other financial assistance for community affordable housing projects and for expenses of the department as appropriated by the Legislat…
Neb. Rev. Stat. § 58-706 Affordable Housing Trust Fund; eligible activities.
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The following activities are eligible for assistance from the Affordable Housing Trust Fund: (1) New construction, rehabilitation, or acquisition of housing to assist low-income and very low-income families; (2) Matching funds for new construction, rehabilitation, or acquisition …
Neb. Rev. Stat. § 58-707 Assistance; qualified recipients.
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Organizations which may receive assistance under the Nebraska Affordable Housing Act are governmental subdivisions, local housing authorities, community action agencies, community-based or neighborhood-based or reservation-based nonprofit organizations, and for-profit entities wo…
Neb. Rev. Stat. § 58-708 Department of Economic Development; selection of projects to receive assistance; disbursements; duties; schedule of uses of funds; annual reporting requirements; recapture funds; when.
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(1) During each calendar year in which funds are available from the Affordable Housing Trust Fund for use by the Department of Economic Development, the department shall make its best efforts to allocate not less than thirty percent of such funds to each congressional district. T…
Neb. Rev. Stat. § 58-709 Rules and regulations.
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The Department of Economic Development, in consultation with the Nebraska Investment Finance Authority, shall adopt and promulgate rules and regulations to carry out the Nebraska Affordable Housing Act. The department shall monitor programs to see that only qualified individuals …
Neb. Rev. Stat. § 58-711 Information on status of Affordable Housing Trust Fund; report; contents.
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(1) The Department of Economic Development shall submit, as part of the department's annual status report under section 81-1201.11, the following information regarding the Affordable Housing Trust Fund: (a) The applications funded during the previous calendar year; (b) the applic…
Neb. Rev. Stat. § 58-713 Department of Economic Development; contract with agent.
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(1) The Department of Economic Development may contract with a statewide public or private nonprofit organization or a state instrumentality which shall serve as agent for the department to help carry out the purposes and requirements of the Nebraska Affordable Housing Act. (2) I…
Neb. Rev. Stat. § 58-801 Act, how cited.
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Sections 58-801 to 58-866 shall be known and may be cited as the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act.
Neb. Rev. Stat. § 58-802 Legislative findings.
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The Legislature finds and declares that: (1) For the benefit of the people of the State of Nebraska, the increase of their commerce, welfare, and prosperity, and the fostering, protection, and improvement of their health and living conditions, it is essential that this and future…
Neb. Rev. Stat. § 58-803 Definitions, where found.
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For purposes of the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act, unless the context otherwise requires, the definitions found in sections 58-804 to 58-812 shall apply.
Neb. Rev. Stat. § 58-804 Authority, defined.
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Authority means the Nebraska Educational, Health, Cultural, and Social Services Finance Authority created by the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act or any board, body, commission, department, or office succeeding to the principal fun…
Neb. Rev. Stat. § 58-805 Bonds, defined.
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Bonds means bonds, notes, or other obligations of the authority issued under the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act, including refunding bonds, notwithstanding that the same may be secured by the full faith and credit of an eligible …
Neb. Rev. Stat. § 58-806 Cost, defined.
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Cost as applied to a project or any portion thereof financed under the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act means all or any part of the cost of acquisition, construction, improvement, equipment, and renovation of all land, buildings, …