Chapter 58, MONEY AND FINANCING
211 sections in this chapter.
Neb. Rev. Stat. § 58-239 Authority; powers; enumerated.
6.6K chars
The authority is hereby granted all powers necessary or appropriate to carry out and effectuate its public and corporate purposes including: (1) To have perpetual succession as a body politic and corporate and an independent instrumentality exercising essential public functions; …
Neb. Rev. Stat. § 58-239.01 Authority; microenterprises; powers and duties.
1.4K chars
(1) In addition to the powers granted to the authority under section 58-239, the authority may: (a) Guaranty all or part of loans to microenterprises, establish and fund any such fund or account as it deems appropriate, and if it deems appropriate limit its guaranty obligation to…
Neb. Rev. Stat. § 58-239.02 Authority; wastewater treatment and safe drinking water projects; powers and duties.
1.5K chars
(1) In addition to the powers granted to the authority under section 58-239, the authority may: (a) Borrow money and issue bonds for the purpose of financing wastewater treatment and safe drinking water projects; and (b) Make and undertake commitments to deposit the proceeds from…
Neb. Rev. Stat. § 58-239.03 Authority; public safety communication projects; powers.
0.4K chars
In addition to the powers granted under section 58-239, the authority may: (1) Borrow money and issue bonds for the purpose of financing public safety communication projects; and (2) Enter into financing agreements for a public safety communication project with a joint entity cre…
Neb. Rev. Stat. § 58-239.04 Authority; economic-impact projects; powers and duties.
1.3K chars
(1) In addition to the powers granted under section 58-239, the authority may: (a) Borrow money and issue bonds for the purpose of financing economic-impact projects; (b) Enter into and perform interagency and intergovernmental agreements with one or more public agencies in conne…
Neb. Rev. Stat. § 58-239.05 Authority; nonprofit entity or subsidiary; powers and duties.
0.7K chars
(1) In addition to the powers granted under section 58-239, the authority may: (a) Support, establish, operate, manage, invest in, participate in, and own nonprofit entities, nonprofit subsidiaries, or other nonprofit consortia, in each case to further carry out the purposes of t…
Neb. Rev. Stat. § 58-240 Authority; duties; enumerated.
1.2K chars
The authority shall: (1) Invest any funds not needed for immediate disbursement, including any funds held in reserve, in direct and general obligations of or obligations fully and unconditionally guaranteed by the United States, obligations issued by agencies of the United States…
Neb. Rev. Stat. § 58-241 Authority; coordinate activities with state.
0.3K chars
In exercising any powers granted in the Nebraska Investment Finance Authority Act, the authority shall coordinate its activities with the policy, program, and planning efforts of the state, particularly the Governor's Policy Research Office and the Department of Economic Developm…
Neb. Rev. Stat. § 58-242 Authority; agricultural projects; duties.
2.1K chars
Prior to exercising any of the powers authorized by the Nebraska Investment Finance Authority Act regarding agricultural projects as defined in subdivision (2) of section 58-219, the authority shall require: (1) That no loan will be made to any person with a net worth of more tha…
Neb. Rev. Stat. § 58-243 Authority; agricultural projects; powers.
0.5K chars
Prior to exercising any of the powers conferred by the Nebraska Investment Finance Authority Act regarding agricultural projects as defined in subdivision (2) of section 58-219, the authority may, but need not: (1) Require that the loan involved be insured by a loan insurer or be…
Neb. Rev. Stat. § 58-244 Authority; agricultural projects; adopt rules and regulations.
2.3K chars
Prior to exercising any of the powers granted under the Nebraska Investment Finance Authority Act regarding agricultural projects as defined in subdivision (2) of section 58-219, the authority shall adopt rules and regulations governing its activities authorized under the act, in…
Neb. Rev. Stat. § 58-245 Agricultural projects; loan; reports required; contents.
2.0K chars
(1) For each loan made, purchased, sold, assigned, or committed for use in agricultural projects as defined in subdivision (2) of section 58-219 pursuant to the provisions of the Nebraska Investment Finance Authority Act, the authority shall prepare an individual written report w…
Neb. Rev. Stat. § 58-246 Agricultural projects; loan reports; public information; borrower's name omitted.
0.7K chars
The reports required pursuant to section 58-245 shall be public information. No such report shall reveal the name of any individual borrower. The authority shall, following the close of each fiscal year, deliver to the Governor and to the Clerk of the Legislature a set of the ind…
Neb. Rev. Stat. § 58-247 Authority; housing projects; powers.
0.5K chars
Prior to exercising any of the powers conferred by the Nebraska Investment Finance Authority Act regarding housing projects as defined in subdivision (1) of section 58-219, the authority may: (1) Require that the mortgage or mortgage loan involved be insured by a mortgage insurer…
Neb. Rev. Stat. § 58-248 Authority; housing projects; adopt rules and regulations.
2.8K chars
Prior to exercising any of the powers granted under the Nebraska Investment Finance Authority Act regarding housing projects as defined in subdivision (1) of section 58-219, the authority shall adopt rules and regulations governing its activities authorized under the act, includi…
Neb. Rev. Stat. § 58-249 Authority; low-income housing loans; establish funds.
0.6K chars
The purpose of this section is to make loans available for single-family housing to people who due to low income would not otherwise qualify for loans under the normal lending practices of the lender and the authority. In connection with any issuance of bonds in an aggregate prin…
Neb. Rev. Stat. § 58-250 Authority; development projects; adopt rules and regulations.
1.0K chars
Prior to exercising any of the powers granted under the Nebraska Investment Finance Authority Act relating to development projects as defined in subdivisions (3) and (5) of section 58-219, the authority shall adopt rules and regulations governing its activities authorized under s…
Neb. Rev. Stat. § 58-251 Authority; development project; make specific findings.
0.6K chars
Prior to providing financing for a development project as defined by subdivision (3) of section 58-219, the authority shall make specific findings relating to the public purposes to be effectuated thereby, including but not limited to (1) with respect to a project as defined in s…
Neb. Rev. Stat. § 58-252 Authority; borrow money and issue bonds; purposes.
0.6K chars
The authority may borrow money and issue from time to time its bonds in such principal amounts as the authority determines necessary to provide sufficient funds to carry out its purposes which include: (1) Carrying out the additional powers of the Nebraska Investment Finance Auth…
Neb. Rev. Stat. § 58-253 Authority; issue bonds to renew, pay, or refund bonds.
1.0K chars
The authority may issue from time to time bonds to renew or to pay bonds, including the interest on such bonds, and whenever it deems refunding expedient, to refund any bonds by the issuance of new bonds, whether the bonds to be refunded have or have not matured and whether or no…
Neb. Rev. Stat. § 58-254 Authority; bond issuance; general obligation; how paid and secured.
0.5K chars
Unless otherwise expressly provided by the authority, every issue of its bonds shall be general obligations of the authority payable solely out of any revenue or money of the authority, subject only to any agreements with the holders of particular bonds pledging any particular mo…
Neb. Rev. Stat. § 58-255 Authority; bond issuance; state; no obligation; statement.
0.5K chars
No bonds issued by the authority under the Nebraska Investment Finance Authority Act shall constitute a debt, liability, or general obligation of this state or a pledge of the faith and credit of this state but shall be payable solely as provided by section 58-254. Each bond issu…
Neb. Rev. Stat. § 58-256 Bond resolution; contents; sale; manner; declaratory judgment.
2.0K chars
The authority shall authorize the bonds by a resolution. The bonds shall bear such date or dates and shall mature at such time or times as such resolution provides, except that no bond other than bonds issued to finance rental housing projects or residential housing shall mature …
Neb. Rev. Stat. § 58-257 Bond resolution; provisions enumerated.
2.4K chars
Any resolution authorizing the issuance of bonds may contain provisions, which provisions shall be a part of the contract or contracts with the holders of such bonds, as to: (1) Pledging all or any part of the revenue of the authority to secure the payment of the bonds, subject t…
Neb. Rev. Stat. § 58-258 Authority; pledge; effect; lien; recording; not required.
0.6K chars
Any pledge made by the authority shall be valid and binding from the time when the pledge is made. The revenue, money, or properties so pledged and thereafter received by the authority shall immediately be subject to the lien of such pledge without any physical delivery thereof o…
Neb. Rev. Stat. § 58-259 Authority; purchase bonds of authority; canceled; price.
0.4K chars
Subject to such agreements with bondholders as then exist, the authority may, out of any funds available therefor, purchase bonds of the authority which shall thereupon be canceled at any reasonable price which, if the bonds are then redeemable, shall not exceed the redemption pr…
Neb. Rev. Stat. § 58-260 Bonds; secured by trust indenture; contents; expenses; how treated.
1.2K chars
The bonds 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 the authority and a corporate trustee which may be any financial institution having the power of a trust company or any trust company w…
Neb. Rev. Stat. § 58-261 Bonds; negotiable instruments.
0.2K chars
The bonds are hereby made negotiable instruments, whether or not in the form of negotiable instruments, subject only to provisions of the bonds relating to registration.
Neb. Rev. Stat. § 58-262 Bonds; signatures of prior members or officers; validity.
0.3K chars
In the event that any of the members or officers of the authority cease to be members or officers of the authority prior to the delivery of any bonds or coupons signed by them, their signatures or facsimiles thereof shall nevertheless be valid and sufficient for all purposes as i…
Neb. Rev. Stat. § 58-263 Authority; establish funds.
0.1K chars
The authority may create and establish any funds as may be necessary or desirable for its purposes.
Neb. Rev. Stat. § 58-264 Authority; money; deposits; secured; expenditures.
0.7K chars
All money of the authority, except as otherwise authorized or provided in the Nebraska Investment Finance Authority Act, shall be deposited as soon as practical in a separate account or accounts in banks or trust companies organized under the laws of this state or in national ban…
Neb. Rev. Stat. § 58-265 Authority; bondholders; contract; purposes; money; how secured.
0.6K chars
Notwithstanding the provisions of section 58-264, the authority may contract with the holders of any of its bonds as to the custody, collection, securing, investment, and payment of any money of the authority and of any money held in trust or otherwise for the payment of bonds an…
Neb. Rev. Stat. § 58-266 Bondholders; pledge; agreement of the state.
0.7K chars
The state hereby pledges to and agrees with the holder of any bonds issued under the Nebraska Investment Finance Authority Act that the state will not limit or alter the rights vested in the authority to fulfill the terms of any agreements made with the holders of the bonds or in…
Neb. Rev. Stat. § 58-267 Authority; expenses; how paid; liability of state or political subdivision; prohibited.
0.3K chars
All expenses incurred by the authority in carrying out the Nebraska Investment Finance Authority Act shall be payable solely from funds provided under such act, and nothing in such act shall be construed to authorize the authority to incur indebtedness or liability on behalf of o…
Neb. Rev. Stat. § 58-268 Authority; property; public; exempt from taxation; when; dissolution; assets; how distributed.
1.1K chars
All property acquired or held by the authority to carry out the purposes of the Nebraska Investment Finance Authority Act is declared to be public property. The property to the extent such property is used for a public purpose, all the income from such property, bonds issued unde…
Neb. Rev. Stat. § 58-269 Bonds; legal investments; for whom; considered securities.
1.2K chars
The bonds issued by and under the authority of the Nebraska Investment Finance Authority Act by the authority are declared to be legal investments in which all public officers or public bodies of this state, its political subdivisions, all municipalities and municipal subdivision…
Neb. Rev. Stat. § 58-270 Authority; reports; contents; audit; issuance of bonds; notices.
3.0K chars
(1) The authority shall, following the close of each fiscal year, submit a report of its activities for the preceding year to the Governor and the Clerk of the Legislature. The report submitted to the Clerk of the Legislature shall be submitted electronically. Each member of the …
Neb. Rev. Stat. § 58-271 Act, how construed.
1.1K chars
Neither the Nebraska Investment Finance Authority Act nor anything contained in such act is or shall be construed as a restriction or limitation upon any powers which the authority might otherwise have under any other law of this state, and such act is cumulative to such powers. …
Neb. Rev. Stat. § 58-272 Authority; successor to certain entities; transfer of property, funds, and obligations to authority; actions by predecessor entities; how treated.
1.8K chars
The authority shall be the successor to the Nebraska Mortgage Finance Fund, the Agricultural Development Corporation, and the Nebraska Development Finance Fund. All properties, rights in land, buildings, records, and equipment and any funds, money, revenue, receipts, or assets of…
Neb. Rev. Stat. § 58-273 Building housing for individuals with disabilities; authority; duties; collaboration required.
0.6K chars
(1) For purposes of this section, Olmstead Plan means the comprehensive strategic plan for providing services to individuals with disabilities that was developed in accordance with section 81-6,122. (2) In order to help fulfill one of the goals of the Olmstead Plan, the authority…
Neb. Rev. Stat. § 58-274 Authority; administration of grant or loan program; requirements.
1.5K chars
(1) For purposes of this section, public funds has the same meaning as in section 81-11,106. (2) If the authority administers any grant or loan program involving public funds pursuant to an agreement with a state agency, the following requirements shall apply: (a) The authority s…
Neb. Rev. Stat. § 58-501 Act, how cited.
0.1K chars
Sections 58-501 to 58-533 shall be known and may be cited as the Nebraska Redevelopment Act.
Neb. Rev. Stat. § 58-502 Legislative findings.
1.5K chars
The Legislature finds and declares the following facts and purposes of the Nebraska Redevelopment Act: (1) It is the policy of this state to make revisions in its statutory structure if this will encourage both new and existing businesses to relocate to and expand in Nebraska and…
Neb. Rev. Stat. § 58-503 Terms, defined.
9.6K chars
For purposes of the Nebraska Redevelopment Act, the following definitions apply: (1) Any term not otherwise defined has the same meaning as used in the Interlocal Cooperation Act; (2) Area application means the area application in section 58-504; (3) Area of operation means and i…
Neb. Rev. Stat. § 58-504 Designated blighted and substandard area; application; hearing; approval.
4.9K chars
(1) Any city or joint entity may apply to the state to designate an area as a designated blighted and substandard area under the Nebraska Redevelopment Act. Such area may extend up to ten miles outside of the area of operation of an applying city of the metropolitan or primary cl…
Neb. Rev. Stat. § 58-505 Redevelopment project; application; hearing; approval.
7.9K chars
(1) A company may file a project application with the city or joint entity that filed the area application for the designated blighted and substandard area to undertake and complete a redevelopment project in such designated area and to obtain tax increment financing under the Ne…
Neb. Rev. Stat. § 58-506 Act; how construed.
0.2K chars
The Nebraska Redevelopment Act shall be construed in accordance with the authority granted by Article VIII, section 12, of the Constitution of Nebraska.
Neb. Rev. Stat. § 58-507 Property taxes; how divided.
1.7K chars
The project agreement shall contain a provision that all property taxes levied on the assessed valuation of the real property or personal property, or both, in the project area of the redevelopment project by or for the benefit of all taxing bodies shall be divided, for a period …
Neb. Rev. Stat. § 58-508 Redevelopment project valuation; county assessor; duties.
0.9K chars
Commencing on the effective date of the project agreement, the county assessor, or county clerk if he or she is ex officio county assessor, of the county or counties in which the redevelopment project is located, shall transmit to the contracting public body and to the county tre…
Neb. Rev. Stat. § 58-509 Property taxes; how treated.
0.9K chars
In each year after the determination of a redevelopment project valuation as outlined in section 58-508, the county assessor and the county board of equalization of each affected county shall include no more than the redevelopment project valuation of the taxable real property an…