Chapter 72, PUBLIC LANDS, BUILDINGS, AND FUNDS
330 sections in this chapter.
Neb. Rev. Stat. § 72-1001 Nebraska Capital Construction Fund; created; use; investment.
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The Nebraska Capital Construction Fund is created. The fund shall consist of revenue and transfers credited to the fund as authorized by law. Money shall be appropriated from the fund to state agencies for making payments on projects as determined by the Legislature, including, b…
Neb. Rev. Stat. § 72-101 Sale or lease; how validated.
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In cases in which contracts for the sale or lease of lands owned by the state have been duly signed, executed and delivered to the purchaser or purchasers or lessees named in such contracts, by the proper state officers, the omission on the part of the proper officers to have fir…
Neb. Rev. Stat. § 72-102 Public land; confirmed to the state; where recorded.
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Whenever any communication shall be received by the Governor, or by any of the departments of the state government, from the Secretary of the Interior, when or whereby any lands or selection thereof shall be confirmed or certified to this state under or by virtue of any grant or …
Neb. Rev. Stat. § 72-103 Public land; confirmation; record; fee.
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It shall be the duty of the several county clerks to whom any such copy shall be presented to record it in the books in which land patents are or may be recorded, and in the order in which such copy may be received. The clerks shall be entitled to the same fees for recording such…
Neb. Rev. Stat. § 72-104 Public land; record of confirmation; receipt as evidence.
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Each such copy, the record thereof, or a transcript of such record, certified under the hand and seal of the county clerk in whose office the same shall be recorded, shall be received in all courts and places whatever as evidence of each and every fact and thing therein stated, a…
Neb. Rev. Stat. § 72-105 Shelterbelts; cooperation with federal government.
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The Board of Educational Lands and Funds may enter into cooperative agreements with the officers and agents of the United States of America for the improvement by the United States of state educational and other lands, not under the control of the Board of Educational Lands and F…
Neb. Rev. Stat. § 72-106 Shelterbelts; agreements; contents; recording.
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Every such agreement shall describe particularly the land to be covered by the shelterbelt, and shall be recorded in the county where such land is situated; and, thereafter, all leases, sales, and other disposition of such land shall be subject to such agreement.
Neb. Rev. Stat. § 72-107 Shelterbelts; no expenditures authorized.
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Sections 72-105 to 72-107 shall not be construed to authorize the Board of Educational Lands and Funds to spend any funds which may be under its jurisdiction, nor to incur indebtedness, under the above-mentioned agreements.
Neb. Rev. Stat. § 72-108 Conveyances of real estate; custody after recording; exception.
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All deeds or other instruments conveying any interest in lands to the State of Nebraska, or to any board, department, or commission thereof, shall be carefully deposited in the office of the Board of Educational Lands and Funds for safekeeping after they have been duly recorded i…
Neb. Rev. Stat. § 72-1237 Nebraska Investment Council; created; members; appointment; term; vacancy; immunity.
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(1) The Nebraska Investment Council is created. For purposes of the Nebraska State Funds Investment Act, council means the Nebraska Investment Council. The council shall consist of five members, appointed by the Governor with the approval of the Legislature. The State Treasurer a…
Neb. Rev. Stat. § 72-1238 Nebraska Investment Council; members; qualifications.
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(1) Prior to July 1, 2005, the appointed members of the council shall have at least ten years of experience in the financial affairs of a public or private organization or have at least five years of experience in the field of investment management or analysis. For members appoin…
Neb. Rev. Stat. § 72-1239 Nebraska Investment Council; purpose; members; meetings; compensation; expenses.
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The purpose of the council is to formulate and establish such policies as it may deem necessary and proper which shall govern the methods, practices, and procedures followed by the state investment officer for the investment or reinvestment of state funds and funds described in s…
Neb. Rev. Stat. § 72-1239.01 Council; duties and responsibilities.
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(1)(a) The appointed members of the council shall have the responsibility for the investment management of the assets of the retirement systems administered by the Public Employees Retirement Board as provided in section 84-1503, the assets of the Nebraska educational savings pla…
Neb. Rev. Stat. § 72-1240 State investment officer; appointment; qualifications; salary; removal.
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The council shall appoint a state investment officer. The appointment shall be subject to the approval of the Governor and a majority of the Legislature. The state investment officer shall be a person well qualified by training to administer and invest the money available for inv…
Neb. Rev. Stat. § 72-1241 State investment officer; deputy; duties; bond or insurance.
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The state investment officer shall devote his or her entire time and attention to the duties of his or her office. The state investment officer shall not engage in any other occupation or profession or hold any other public office, appointive or elective. If for any reason the st…
Neb. Rev. Stat. § 72-1242 State investment officer; personnel; employ; approval of Governor; employees; duties; exempted from State Personnel System; when.
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The state investment officer shall employ qualified personnel as may be required to carry out the duties and responsibilities required under the Nebraska State Funds Investment Act. Such employees shall be deemed state employees and covered by the State Personnel System pursuant …
Neb. Rev. Stat. § 72-1243 State investment officer; investment and reinvestment of funds; duties; Nebraska Investment Council; analysis required; annual report; contents.
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(1) Except as otherwise specifically provided by law, the state investment officer shall direct the investment and reinvestment of money in all state funds not currently needed and all funds described in section 83-133 and order the purchase, sale, or exchange of securities for s…
Neb. Rev. Stat. § 72-1244 State Treasurer; boards, commissions, departments, and agencies; money to invest; notify state investment officer; conditions.
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The State Treasurer shall notify the state investment officer as to the amount of money in the General Fund and the funds of any board, commission, department, agency, or official charged with the control of any other state fund not currently needed and available for investment. …
Neb. Rev. Stat. § 72-1246 State investment officer; investments; duties.
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The state investment officer shall invest in investments of the nature which individuals of prudence, discretion, and intelligence acquire or retain in dealing with the property of another, and if the state investment officer has special skills or is named on the basis of represe…
Neb. Rev. Stat. § 72-1246.01 Student loans; purchase.
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The Nebraska Investment Council, out of funds available to it, upon the application of any qualified lending agent as defined under the Federal Higher Education Act of 1965, may purchase all student loans which are federally guaranteed, as to principal and interest, and made to N…
Neb. Rev. Stat. § 72-1246.02 Student loans; sale; resale; conditions.
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The Nebraska Investment Council may hold such loans or offer them for sale or resale on such terms and conditions as shall be negotiated with purchasers. Conditions of such sale or resale may be, but shall not be limited to, amounts to be retained for service, degree of servicing…
Neb. Rev. Stat. § 72-1246.03 Student loans; Nebraska State Colleges; service loans; security.
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The Nebraska Investment Council may negotiate with the Board of Trustees of the Nebraska State Colleges for the servicing of such loans which may be purchased by the council, retained in its investment portfolio or resold as provided in section 72-1246.02. The council may require…
Neb. Rev. Stat. § 72-1246.04 Student loans; purchasing, selling, servicing; approval.
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The Nebraska Investment Council shall obtain the approval of the United States Department of Education before purchasing, selling, or servicing loans pursuant to sections 72-1246.01 to 72-1246.03.
Neb. Rev. Stat. § 72-1246.05 Student loans; priority; liquidation of investments; prior investments, how treated; interest.
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The Nebraska Investment Council may give priority to the investments authorized by section 72-1246.01 and shall liquidate other investments if necessary to meet the demand for such loans; Provided, that any investments made prior to May 24, 1971, may be retained in kind, notwiths…
Neb. Rev. Stat. § 72-1248 Income from investments; disbursement.
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Interest, premium, and other income received from investments pursuant to sections 72-1244 and 72-1267 shall be credited to the fund from which the investment was made except as otherwise provided by law.
Neb. Rev. Stat. § 72-1249 Expenses; costs; how paid.
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(1) Any expenses with respect to the purchase, sale, or exchange of any security shall be charged to the fund or funds on behalf of which such purchase, sale, or exchange was made. All other expenses of the state investment officer shall be paid out of appropriations for the offi…
Neb. Rev. Stat. § 72-1249.02 State Investment Officer's Cash Fund; created; allocation of charges to funds managed; costs; how paid.
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The State Investment Officer's Cash Fund is created. A pro rata share of the budget appropriated for the council shall be charged to the income of each fund managed, and such charges shall be transferred to the State Investment Officer's Cash Fund. The allocation of charges may b…
Neb. Rev. Stat. § 72-1250 Securities in custody of State Treasurer; held in name of nominee; registered nominee; selection.
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All securities purchased or held shall be in the custody of the State Treasurer who may deposit with a fiscal agent in any financial institution, approved by the Nebraska Investment Council, such securities as he shall consider advisable to be held in safekeeping by such agent fo…
Neb. Rev. Stat. § 72-1250.01 Cash funds deposited with fiscal agent; constitute investment made by state investment officer.
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Whenever cash funds belonging to the State of Nebraska shall be deposited with any fiscal agent authorized by section 72-1250, the holding thereof shall be and constitute an investment made pursuant to direction of the state investment officer for purposes of subdivision (7) of s…
Neb. Rev. Stat. § 72-1251 State Treasurer; interest, premium, income, and principal; collect.
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The State Treasurer shall collect the interest, premium or other income on and the principal of such securities in his custody as the same become due and payable.
Neb. Rev. Stat. § 72-1252 State investment officer; earned income; notice.
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The available money from the General Fund and each board, commission, department, agency, or official charged with the control of any other state funds shall be invested by the state investment officer. On a monthly basis the state investment officer shall notify the Department o…
Neb. Rev. Stat. § 72-1254 State investment officer; operations; report; contents; public inspection.
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The state investment officer shall report no later than fifteen days after the close of each month to the Governor, the State Treasurer, the Auditor of Public Accounts, the Department of Administrative Services, and the members of the council on the operations for the pooled acco…
Neb. Rev. Stat. § 72-1255 Investment transactions; Auditor of Public Accounts; postaudits; report.
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The Auditor of Public Accounts shall conduct, at such time as he or she determines necessary, postaudits of the investment transactions provided for in the Nebraska State Funds Investment Act and shall submit annually a report of his or her findings to the Governor and the state …
Neb. Rev. Stat. § 72-1257 Default; proceedings.
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In the event of default in the payment of principal of, or interest on, any investment made by the state investment officer, the State Treasurer may institute the proper proceedings to collect such matured principal or interest, and may, with the approval of the state investment …
Neb. Rev. Stat. § 72-1258 Investment of state funds; boards, commissions, departments, agencies, officials; powers and duties.
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Except as otherwise provided in sections 72-1244 and 72-1267, each board, commission, department, agency, or official that previously was charged with the investment of state funds shall continue in all other respects as provided by law and shall continue to have all other powers…
Neb. Rev. Stat. § 72-1259 State investment officer; political subdivisions; assistance; fee.
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The state investment officer may provide assistance and furnish advice regarding the investment of money to any political subdivision of the State of Nebraska whenever such advice is requested by a political subdivision. In connection with the rendering of such service, the state…
Neb. Rev. Stat. § 72-1260 Act, how cited.
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Sections 72-1237 to 72-1260 shall be known and may be cited as the Nebraska State Funds Investment Act.
Neb. Rev. Stat. § 72-1261 Declaration of intent.
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It is hereby declared that the lending of money is an activity which affects the economic conditions of the State of Nebraska, that Nebraska is a state short of sufficient capital to properly serve the needs of the state, especially the agricultural credit requirements and housin…
Neb. Rev. Stat. § 72-1262 Terms, defined.
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For purposes of the Nebraska Capital Expansion Act, unless the context otherwise requires: (1) Bank means a state-chartered or federally chartered bank which has a main chartered office in this state, any branch thereof in this state, or any branch in this state of a state-charte…
Neb. Rev. Stat. § 72-1263 State investment officer; time deposit open account; conditions.
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Except as provided in section 72-1264, the state investment officer shall, out of funds available for investment, initially cause to be offered to all banks, capital stock financial institutions, and qualifying mutual financial institutions in this state a time deposit open accou…
Neb. Rev. Stat. § 72-1264 Funds; when offered; time deposit open account; state investment officer; powers.
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Funds shall be offered for deposit as they become available. The time of such deposit shall be known as an investment date. The state investment officer may make prudent interim investments. If the funds available for investment are less than the amount required for banks, capita…
Neb. Rev. Stat. § 72-1265 State investment officer; deposits; fix interest rate and term; legislative intent.
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The state investment officer shall fix the rate of interest to be paid on deposits and the term of deposits to be offered on the first day of each month. The rate per annum for each period shall be equal to the interest rate paid for other qualified investments of equal term avai…
Neb. Rev. Stat. § 72-1266 Nebraska Investment Council; adopt rules and regulations.
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The Nebraska Investment Council shall adopt and promulgate rules and regulations to establish procedures for the distribution of funds to banks, capital stock financial institutions, and qualifying mutual financial institutions.
Neb. Rev. Stat. § 72-1267 State investment officer; combine and pool investable funds; when; prorate interest.
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For purposes of investment under the Nebraska Capital Expansion Act, the state investment officer shall combine and pool all investable funds of all state agencies subject to his or her investment powers except when doing so would violate a fiduciary obligation of the state. The …
Neb. Rev. Stat. § 72-1268 Depositories; eligibility for funds; bond or bond alternatives.
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(1) Notwithstanding any other provision of law, every bank, capital stock financial institution, and qualifying mutual financial institution shall be eligible for the maximum investment provided for in section 72-1263. The bank, capital stock financial institution, or qualifying …
Neb. Rev. Stat. § 72-1268.01 Funds deposited; bond; requirements.
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For the security of funds deposited under the Nebraska Capital Expansion Act, the state investment officer shall require all such depositories to give bond for the safekeeping of payments of such deposits. The officers of the bank, capital stock financial institution, or qualifyi…
Neb. Rev. Stat. § 72-1268.02 Bond; form.
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The bond referred to in section 72-1268.01 shall be in substance as follows: Know all Persons by these Presents, That we .......... as principals, and .......... as sureties, are held and firmly bound unto the State of Nebraska, in the just and full sum of .......... Dollars, for…
Neb. Rev. Stat. § 72-1268.03 State investment officer; limitation on deposits.
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The state investment officer shall not have on deposit in any bank, capital stock financial institution, or qualifying mutual financial institution giving a guaranty bond more than the amount insured or guaranteed by the Federal Deposit Insurance Corporation plus the maximum amou…
Neb. Rev. Stat. § 72-1268.04 Depository; bond alternatives; requirements.
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In lieu of the bond required by section 72-1268.01, any bank, capital stock financial institution, or qualifying mutual financial institution making application to become a depository under the Nebraska Capital Expansion Act may give security as provided in the Public Funds Depos…
Neb. Rev. Stat. § 72-1268.07 Subsidiary bank of out-of-state bank holding company; filing required; deposit of public funds; restriction; applicability and construction of section.
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(1) Each subsidiary bank of an out-of-state bank holding company shall file with the state investment officer a copy of the public section of the subsidiary bank's most current written evaluation issued pursuant to the terms of section 807 of the Community Reinvestment Act of 197…