Chapter 58, MONEY AND FINANCING
211 sections in this chapter.
Neb. Rev. Stat. § 58-807 Eligible institution, defined.
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Eligible institution means a private institution of higher education, a private health care institution, a private cultural institution, or a private social services institution.
Neb. Rev. Stat. § 58-807.01 Private cultural institution, defined.
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Private cultural institution means any private not-for-profit corporation or institution that (1) has a primary purpose of promoting cultural education or development, such as a museum or related visual arts center, performing arts facility, or facility housing, incubating, devel…
Neb. Rev. Stat. § 58-808 Private health care institution, defined.
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Private health care institution means any private not-for-profit corporation or institution that (1) is licensed under the Health Care Facility Licensure Act, (2) is described in section 501(c)(3) of the Internal Revenue Code and is exempt from federal income taxation under secti…
Neb. Rev. Stat. § 58-809 Private institution of higher education, defined.
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Private institution of higher education means a not-for-profit educational institution located within this state which is not owned or controlled by the state or any political subdivision, agency, instrumentality, district, or municipality thereof, which is authorized by law to p…
Neb. Rev. Stat. § 58-810 Private social services institution, defined.
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Private social services institution means any private not-for-profit corporation or institution that (1) provides health, safety, and welfare assistance, including emergency, social, housing, and related support services, to members of the general public in the state, (2) is desc…
Neb. Rev. Stat. § 58-811 Project, defined.
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(1) Project means any property located within the state that may be used or will be useful in connection with the instruction, feeding, recreation, or housing of students, the provision of health care services to members of the general public, the provision of cultural services t…
Neb. Rev. Stat. § 58-812 Property, defined.
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Property means the real estate upon which a project is or will be located, including equipment, machinery, and other similar items necessary or convenient for the operation of the project in the manner for which its use is intended, but not including such items as fuel, supplies,…
Neb. Rev. Stat. § 58-813 Nebraska Educational, Health, Cultural, and Social Services Finance Authority; created.
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There is hereby created a body politic and corporate to be known as the Nebraska Educational, Health, Cultural, and Social Services Finance Authority. The authority is constituted a public instrumentality, and the exercise by the authority of the powers conferred by the Nebraska …
Neb. Rev. Stat. § 58-814 Authority; members; qualifications; appointment; terms; removal.
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(1) The authority shall consist of seven members, to be appointed by the Governor, who shall be residents of the state, not more than four of whom shall be members of the same political party. (2) Of the seven members: (a) At least one shall be a trustee, director, officer, or em…
Neb. Rev. Stat. § 58-815 Authority; officers; executive director; compensation; receive contributions.
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Each year the authority shall elect one of its members as chairperson and another member as vice-chairperson. It may appoint an executive director and assistant executive director, who shall not be members of the authority but who shall serve at the pleasure of the authority. An …
Neb. Rev. Stat. § 58-816 Authority; keep records and accounts; seal; certified copies.
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The executive director, assistant executive director, or any other person designated by resolution of the authority shall keep records and accounts of all proceedings and financial dealings of the authority, shall be custodian of all books, documents, and papers filed with the au…
Neb. Rev. Stat. § 58-817 Authority; quorum; actions; vacancy; effect; meetings.
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Four members of the authority shall constitute a quorum. The affirmative vote of a majority of all of the members of the authority shall be necessary for any action taken by the authority. A vacancy in the membership of the authority shall not impair the right of a quorum to exer…
Neb. Rev. Stat. § 58-818 Authority; officers, members, and employees; surety bond requirements.
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Before the issuance of any bonds under the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act, the chairperson, vice-chairperson, executive director, and assistant executive director, if any, and any other member of the authority authorized by resol…
Neb. Rev. Stat. § 58-819 Authority; members; expenses.
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The members of the authority shall receive no compensation for the performance of their duties as members, but each such member shall be reimbursed for expenses while engaged in the performance of such duties as provided in sections 81-1174 to 81-1177 from any funds legally avail…
Neb. Rev. Stat. § 58-820 Authority member or employee; conflict of interest; abstention.
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Notwithstanding any other law to the contrary, it shall not be or constitute a conflict of interest for a trustee, director, officer, or employee of any educational institution, health care institution, cultural institution, social services institution, financial institution, com…
Neb. Rev. Stat. § 58-821 Authority; purpose.
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The purpose of the authority shall be to assist eligible institutions in the acquisition, construction, improvement, equipment, renovation, financing, and refinancing of projects and to administer and operate the Nebraska Health Education Assistance Loan Program as provided in se…
Neb. Rev. Stat. § 58-822 Authority; perpetual succession; bylaws.
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The authority shall have perpetual succession as a body politic and corporate and may adopt bylaws for the regulation of its affairs and the conduct of its business.
Neb. Rev. Stat. § 58-823 Authority; adopt seal.
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The authority may adopt an official seal and alter the same at its pleasure.
Neb. Rev. Stat. § 58-824 Authority; office; location.
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The authority may maintain an office at such place or places within Nebraska as it may designate.
Neb. Rev. Stat. § 58-825 Authority; sue and be sued.
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The authority may sue and be sued in its own name.
Neb. Rev. Stat. § 58-826 Authority; powers over project.
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The authority may determine the location and character of any project to be financed or refinanced under the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act and acquire, construct, reconstruct, improve, equip, remodel, renovate, replace, maintain…
Neb. Rev. Stat. § 58-827 Authority; issuance of bonds authorized.
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The authority may issue bonds of the authority for any of its corporate purposes and fund or refund the same pursuant to the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act.
Neb. Rev. Stat. § 58-828 Authority; charge for services.
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The authority may charge and collect rates, rents, fees, and other charges for the use of and for the services furnished or to be furnished by a project or any portion thereof and contract with any person, partnership, limited liability company, association, or corporation or oth…
Neb. Rev. Stat. § 58-829 Authority; rules and regulations for use of project; designate agent.
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The authority may establish rules and regulations for the use of a project or any portion thereof and designate an eligible institution as its agent to establish rules and regulations for the use of a project undertaken by such eligible institution.
Neb. Rev. Stat. § 58-830 Authority; personnel.
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The authority may employ consulting engineers, architects, attorneys, accountants, trustees, construction and finance experts, superintendents, managers, and such other employees and agents as may be necessary in its judgment, and fix their compensation.
Neb. Rev. Stat. § 58-831 Authority; receive loans, grants, and contributions.
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The authority may receive and accept from any source loans or grants for or in aid of the acquisition, construction, improvement, equipment, or renovation of a project or any portion thereof, and receive and accept from any source loans, grants, aid, or contributions of money, pr…
Neb. Rev. Stat. § 58-832 Authority; mortgage of certain property.
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The authority may mortgage all or any portion of any project or any other facilities conveyed to the authority for such purpose and the site or sites thereof, whether presently owned or subsequently acquired, for the benefit of the holders of the bonds of the authority issued to …
Neb. Rev. Stat. § 58-833 Authority; loans authorized; limitation.
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The authority may make loans to any eligible institution for the cost of any project or in anticipation of the receipt of tuition or other revenue by the eligible institution in accordance with an agreement between the authority and such eligible institution, except that (1) no s…
Neb. Rev. Stat. § 58-834 Authority; issue bonds; make loans; conditions.
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The authority may issue bonds and make loans to an eligible institution and refund or reimburse outstanding obligations, mortgages, or advances, including advances from an endowment or any similar fund, issued, made, or given by such eligible institution for the cost of a project…
Neb. Rev. Stat. § 58-835 Authority; administrative costs; apportionment.
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The authority may charge to and equitably apportion among participating eligible institutions its administrative costs and expenses incurred in the exercise of the powers and duties conferred by the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act…
Neb. Rev. Stat. § 58-836 Authority; general powers; joint projects.
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The authority may do all things necessary or convenient to carry out the purposes of the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act. In carrying out the purposes of the act, the authority may undertake a project for two or more eligible inst…
Neb. Rev. Stat. § 58-837 Authority; combine and substitute projects; bonds; additional series.
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Notwithstanding any other provision contained in the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act, the authority may combine for financing purposes, with the consent of all of the eligible institutions which are involved, the project or projec…
Neb. Rev. Stat. § 58-838 Expenses; how paid; liability; limitation.
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All expenses incurred in carrying out the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act shall be payable solely from funds provided under the act, and no liability or obligation shall be incurred by the authority beyond the extent to which mone…
Neb. Rev. Stat. § 58-839 Authority; acquisition of property.
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The authority is authorized and empowered, directly or by and through an eligible institution, as its agent, to acquire by purchase, gift, or devise, such lands, structures, property, real or personal, rights, rights-of-way, franchises, easements, and other interests in lands, an…
Neb. Rev. Stat. § 58-840 Authority; financing obligations completed; convey title to eligible institution.
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When the principal of and interest on bonds of the authority issued to finance the cost of a particular project or projects for an eligible institution, including any refunding bonds issued to refund and refinance such bonds, have been fully paid and retired or when adequate prov…
Neb. Rev. Stat. § 58-841 Authority; bonds; issuance; form; proceeds; how used; replacement; liability; liability insurance; indemnification.
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The authority is hereby authorized to provide by resolution, at one time or from time to time, for the issuance of bonds for the purpose of (1) paying, refinancing, or reimbursing all or any part of the cost of a project, (2) administering and operating the Nebraska Health Educat…
Neb. Rev. Stat. § 58-842 Bond issuance; resolution; provisions enumerated.
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Any resolution or resolutions authorizing any bonds or any issue of bonds and any trust indenture securing any bonds or any issue of bonds may contain provisions, which shall be a part of the contract with the holders of the bonds to be authorized, as to (1) pledging or assigning…
Neb. Rev. Stat. § 58-843 Bonds; secured by trust indenture; contents; expenses; how treated.
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In the discretion of the authority any bonds issued under the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act may be secured by a trust indenture, which trust indenture may be in the form of a bond resolution or similar contract, by and between t…
Neb. Rev. Stat. § 58-844 Bonds issued to purchase securities of eligible institution; provisions applicable.
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In addition to any other methods of financing authorized in the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act, the authority may finance the cost of a project or program, refund outstanding indebtedness, or reimburse advances from an endowment …
Neb. Rev. Stat. § 58-845 Bonds issued to acquire federally guaranteed securities; provisions applicable.
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Notwithstanding any other provision of the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act to the contrary, the authority may finance the cost of a project or program, refund outstanding indebtedness, or reimburse advances from any endowment or a…
Neb. Rev. Stat. § 58-846 Refunding bonds; issuance authorized; provisions applicable.
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The authority is hereby authorized to provide by resolution for the issuance of refunding bonds for the purpose of refunding any bonds then outstanding which have been issued by it under the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act, includ…
Neb. Rev. Stat. § 58-847 Bond issuance; state or political subdivision; no obligation; statement; expenses.
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Bonds issued pursuant to the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act shall not be deemed to constitute a debt of the state or of any political subdivision thereof or a pledge of the faith and credit of the state or of any such political s…
Neb. Rev. Stat. § 58-848 Authority; rents or loan payments; use.
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Except for projects financed or refinanced pursuant to sections 58-844 and 58-845, the authority shall fix, revise, charge, and collect rents or loan payments for the use of or payment for each project and contract with any eligible institution in respect thereof. Each lease or l…
Neb. Rev. Stat. § 58-849 Money received by authority; deemed trust funds; investment.
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All money received by the authority, whether as proceeds from the sale of bonds, from revenue, or otherwise, shall be deemed to be trust funds to be held and applied solely as provided in the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act but, p…
Neb. Rev. Stat. § 58-850 Bondholders and trustee; enforcement of rights.
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Any holder of bonds or of any of the coupons appertaining thereto issued under the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act and the trustee under any trust indenture, except to the extent the rights given in the act may be restricted by th…
Neb. Rev. Stat. § 58-851 Act, how construed.
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The Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act, being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect the purposes thereof.
Neb. Rev. Stat. § 58-852 Authority; journal; public records.
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All final actions of the authority shall be recorded in a journal, and the journal and all instruments and documents relating thereto shall be kept on file at the office of the authority and shall be open to the inspection of the public at all reasonable times.
Neb. Rev. Stat. § 58-853 Authority; public purpose; exemptions from taxation.
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The exercise of the powers granted by the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act shall be in all respects for the benefit of the people of the state, for the increase of their commerce, welfare, and prosperity, for the fostering, encoura…
Neb. Rev. Stat. § 58-854 Bondholders; pledge; agreement of the state.
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The State of Nebraska does hereby pledge to and agree with the holders of any obligations issued under the Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act and with those parties who may enter into contracts with the authority pursuant to the act …
Neb. Rev. Stat. § 58-855 Act; supplemental to other laws.
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The Nebraska Educational, Health, Cultural, and Social Services Finance Authority Act shall be deemed to provide a complete, additional, and alternative method for doing the things authorized in the act and shall be regarded as supplemental and additional to powers conferred by o…