reglab/housing_qa huggingface dataset:
NE Code § 2-4217 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4217 - Investment in, purchase of, or assignment of loans; conditions.

2-4217.  Investment in, purchase of, or assignment of loans; conditions.The corporation may invest in, purchase, or make commitments to invest in or purchase, and take assignments or make commitments to take assignments of, conservation loans made to landowners for the construction or implementation of conservation practices by such landowners. No conservation loans shall be eligible for investment in, purchase, or assignment by the corporation if the conservation loan was made more than three years prior to the date of investment, purchase, or assignment by the corporation. A conservation loan invested in, purchased, or assigned by the corporation under this section may be secured by a mortgage or such other security device as the corporation deems necessary to secure the payment of principal and interest on such conservation loan.The corporation may make, invest in, purchase, or make a commitment to make, invest in, or purchase natural resource development loans to any political subdivision. Such loans may be evidenced by any debt obligation which the political subdivision is authorized to issue in connection with any natural resource development practice and may be secured by such general or special revenue sources as the political subdivision is authorized to pledge or commit.Source   Laws 1981, LB 385, § 17;   Laws 1983, LB 20, § 7;   Laws 1985, LB 387, § 11.
NE Code § 2-4218 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4218 - Loans to lenders; requirements.

2-4218.  Loans to lenders; requirements.Prior to exercising any of the powers authorized in sections 2-4216 and 2-4217 in connection with any conservation loan, the corporation shall require the lender to certify and agree that:(1) Any conservation loan made by the lender to the landowner under section 2-4216, or originated by the lender for sale or assignment to the corporation under section 2-4217, is, or if the same has not been made will at the time of making be, in all respects a prudent investment;(2) The lender will, within a reasonable period of time after receipt of a loan amount or deposit from the corporation under section 2-4216, make conservation loans or purchase mortgages made to secure conservation loans in an aggregate amount equal to the amount of the loan or deposit made by the corporation to the lender or, if such lender has made a commitment to make conservation loans to landowners on the basis of a commitment from the corporation to purchase such conservation loans under section 2-4217, the lender will make such conservation loans and sell the same to the corporation within a reasonable period of time.Source   Laws 1981, LB 385, § 18;   Laws 1983, LB 20, § 8;   Laws 1985, LB 387, § 12.
NE Code § 2-4219 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4219 - Loans; optional requirements.

2-4219.  Loans; optional requirements.Prior to exercising any of the powers conferred by sections 2-4216 and 2-4217, the corporation may:(1) Require that the conservation loan or natural resource development loan involved be insured by an insurer;(2) Require any other type of security that it deems reasonable and necessary and which, in the case of a political subdivision, such political subdivision is authorized by law to grant; and(3) Require appropriate evidence in the form of an opinion of counsel that any natural resource development loan is duly authorized and valid under the statutes governing the powers and procedures of such political subdivision.Source   Laws 1981, LB 385, § 19;   Laws 1983, LB 20, § 9;   Laws 1985, LB 387, § 13.
NE Code § 2-4220 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4220 - Rules and regulations; subject matter.

2-4220.  Rules and regulations; subject matter.Prior to carrying out any of the powers granted under sections 2-4216 and 2-4217, the corporation shall adopt and promulgate rules and regulations governing its activities authorized under the Conservation Corporation Act, including rules and regulations relating to any or all of the following:(1) The number and location of the conservation practices and natural resource development practices, including, to the extent reasonably possible, assurance that the conservation practices or natural resource development practices to be financed by an issue of bonds or series of issues will be adequate, as determined by the corporation, to be financed directly or indirectly by the lenders or by an issue of bonds of the corporation;(2) Rates, fees, charges, and other terms and conditions of making, originating, or servicing conservation loans in order to protect against realization of an excessive financial return or benefit by the originator or servicer;(3) The type and the amount of collateral or security to be provided to assure repayment of conservation loans or natural resource development loans or of deposits made to lenders under section 2-4216;(4) The type of collateral, payment bond, performance bond, or other security to be provided by the lending institutions making conservation loans under section 2-4216 or originating and servicing conservation loans under section 2-4217;(5) The nature and amount of fees to be charged by the corporation to provide for expenses and reserves of the corporation;(6) Standards and requirements for the allocation of available money and the determination of the maturities, terms, conditions, and interest rates for conservation loans or natural resource development loans made, purchased, sold, assigned, or committed;(7) Commitment requirements for conservation practices and financing for landowners by lending institutions involving money provided directly or indirectly by the lender; or(8) Any other matters related to the duties or exercise of the corporation's powers or duties under the Conservation Corporation Act.Source   Laws 1981, LB 385, § 20;   Laws 1983, LB 20, § 10;   Laws 1985, LB 387, § 14.
NE Code § 2-4221 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4221 - Corporation; borrow money; issue bonds; purposes.

2-4221.  Corporation; borrow money; issue bonds; purposes.The corporation shall have the power to borrow money and to issue from time to time its bonds in such principal amounts as the corporation determines shall be necessary to provide sufficient funds to carry out its purposes as provided in sections 2-4201 to 2-4246, including:(1) To carry out the powers provided in sections 2-4216 and 2-4217;(2) The payment of interest on bonds of the corporation;(3) The establishment of reserves to secure the bonds; and(4) All other expenditures of the corporation incident to or necessary and convenient to carrying out its purposes and powers.Source   Laws 1981, LB 385, § 21;   Laws 1983, LB 20, § 11.
NE Code § 2-4222 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4222 - Bond issuance; pay or refund bonds.

2-4222.  Bond issuance; pay or refund bonds.The corporation shall have the power to issue from time to time bonds to pay bonds, including the interest thereon and, whenever it deems refunding expedient, to refund any bonds by the issuance of new bonds used partly to refund outstanding bonds and partly for any other of its corporate purposes. The refunding bonds may be sold and the proceeds applied to the purchase, redemption, or payment of the bonds to be refunded, or exchanged for the bonds to be refunded. The proceeds from the bonds may also be used for capitalized interest, legal and consulting fees, and issuance expenses.Source  Laws 1981, LB 385, § 22.
NE Code § 2-4223 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4223 - Bond issuance; general obligation; how paid and secured.

2-4223.  Bond issuance; general obligation; how paid and secured.Except as may otherwise be expressly provided by the corporation, every issue of its bonds shall be a general obligation of the corporation payable solely out of any revenue or money of the corporation, subject only to any agreements with the holders of particular bonds pledging any particular money or revenue. The bonds may be additionally secured by a pledge of any grant or contribution from the federal government, state or local government, or any corporation, association, institution, or person or a pledge of any money, income, or revenue of the corporation from any source.Source  Laws 1981, LB 385, § 23.
NE Code § 2-4224 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4224 - Bond issuance; not obligation of state; statement required.

2-4224.  Bond issuance; not obligation of state; statement required.No bonds issued by the corporation under sections 2-4201 to 2-4246 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 2-4223. Each bond issued under sections 2-4201 to 2-4246 shall contain on the face thereof a statement that neither the faith and credit nor the taxing power of this state is pledged to the payment of the principal of or the interest on such bond.Source  Laws 1981, LB 385, § 24.
NE Code § 2-4225 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4225 - Acceptance of money; when.

2-4225.  Acceptance of money; when.The corporation shall have the authority to accept money from any county or any natural resources district, and any other funds, including private funds, solely for the purpose of reducing the interest on conservation loans or in specific geographic areas wherein lies a designated critical need for conservation practices.Source   Laws 1981, LB 385, § 25;   Laws 1983, LB 20, § 12.
NE Code § 2-4226 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4226 - Bonds; authorized; resolution; contents; sale; manner.

2-4226.  Bonds; authorized; resolution; contents; sale; manner.The bonds shall be authorized by resolution of the corporation, shall bear such date or dates, and shall mature at such time or times as such resolution may provide, except that no bond shall mature more than fifty years from the date of its issue, as the resolution shall provide. The bonds shall bear interest at such rates, or rate, be in such denominations, be in such form, either coupon or registered, carry such registration privileges, be executed in such manner, be payable in such medium of payment, at such place or places, and be subject to such terms of redemption, including redemption prior to maturity, as such resolution may provide. Section 10-126 shall not apply to bonds issued by the corporation. Bonds of the corporation may be sold by the corporation at public or private sale and at such price or prices as the corporation shall determine. Such bonds shall be executed in the name and on behalf of the corporation and signed by the manual or facsimile signatures of the chairperson and secretary-treasurer with the seal of the corporation affixed thereto. Coupons attached to the bonds may bear facsimile or lithographic signatures of the chairperson and secretary-treasurer of the corporation.Source   Laws 1981, LB 385, § 26;   Laws 1985, LB 387, § 15.
NE Code § 2-4227 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4227 - Bond issuance; resolution; provisions; part of contract with bond holders.

2-4227.  Bond issuance; resolution; provisions; part of contract with bond holders.Any resolution authorizing the issuance of bonds may contain provisions, which 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 corporation to secure the payment of the bonds, subject to such agreements with bondholders as may then exist;(2) Pledging all or any part of the assets of the corporation, including conservation loans or natural resource development loans, to secure the principal of and the interest on such bonds, subject to such agreement with bondholders as may then exist;(3) The use and disposition of the gross income from conservation loans or natural resource development loans owned by the corporation and payment of the principal of conservation loans or natural resource development loans owned by the corporation;(4) The setting aside of reserves or sinking funds and the regulation and disposition thereof;(5) Limitations on the purposes to which the proceeds from the sale of bonds may be applied and pledging the proceeds to secure the payment of the bonds;(6) Limitations on the issuance of additional bonds, the terms upon which additional bonds may be issued and secured, and the refunding of outstanding or other bonds;(7) The procedure, if any, by which the terms of any contract with bondholders may be amended or abrogated, the amount of bonds the holders of which may consent thereto, and the manner in which the consent may be given;(8) Limitations on the amount of money to be expended by the corporation for operating expenses of the corporation;(9) Vesting in a trustee or trustees such property, rights, powers, and duties in trust as the corporation may determine, and limiting or abrogating the right of bondholders to appoint a trustee or limiting the rights, powers, and duties of the trustee;(10) Defining the acts or omissions to act which shall constitute a default and the obligations or duties of the corporation to the holders of the bonds, and providing for the rights and remedies of the holders of the bonds in the event of default, including as a matter of right the appointment of a receiver; but the rights and remedies shall not be inconsistent with the general laws of this state and other provisions of the Conservation Corporation Act; and(11) Any other matter, of like or different character, which in any way affects the security or protection of the holders of the bonds.Source   Laws 1981, LB 385, § 27;   Laws 1983, LB 20, § 13;   Laws 1985, LB 387, § 16.
NE Code § 2-4228 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4228 - Pledge; effect; lien; recording not required.

2-4228.  Pledge; effect; lien; recording not required.Any pledge made by the corporation 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 corporation shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against the corporation, irrespective of whether the parties have notice thereof. Neither the resolution nor any other instrument by which a pledge is created need be recorded.Source  Laws 1981, LB 385, § 28.
NE Code § 2-4229 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4229 - Corporation; purchase bonds of corporation; canceled; price.

2-4229.  Corporation; purchase bonds of corporation; canceled; price.The corporation, subject to such agreements with bondholders as may then exist, shall have power out of any funds available therefor to purchase bonds of the corporation, which shall thereupon be canceled, at any reasonable price which, if the bonds are then redeemable, shall not exceed the redemption price then applicable plus accrued interest to the next interest payment thereon.Source  Laws 1981, LB 385, § 29.
NE Code § 2-4230 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4230 - Bonds; secured by trust indenture; expenses; how treated.

2-4230.  Bonds; secured by trust indenture; expenses; how treated.The bonds may be secured by a trust indenture by and between the corporation and a corporate trustee which may be any bank having the power of a trust company or any trust company within or without the state. Such trust indenture may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including covenants setting forth the duties of the corporation in relation to the exercise of its powers and the custody, safekeeping, and application of all money. The corporation may provide by the trust indenture for the payment of the proceeds of the bonds and revenue to the trustee under the trust indenture or other depository, and for the method of disbursement thereof, with such safeguards and restrictions as the corporation may determine. All expenses incurred in carrying out the trust indenture may be treated as a part of the operating expenses of the corporation. If the bond shall be secured by a trust indenture, the bondholders shall have no authority to appoint a separate trustee to represent them.Source  Laws 1981, LB 385, § 30.
NE Code § 2-4231 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4231 - Bonds; negotiable instruments.

2-4231.  Bonds; negotiable instruments.Whether or not the bonds are in the form and character of negotiable instruments, such bonds are hereby made negotiable instruments, subject only to provisions of the bonds relating to registration.Source  Laws 1981, LB 385, § 31.
NE Code § 2-4232 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4232 - Bonds; signatures of prior officers or members; validity.

2-4232.  Bonds; signatures of prior officers or members; validity.In the event that any of the officers or members of the board of directors shall cease to be members or officers of the corporation 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, the same as if such members or officers had remained in office until such delivery.Source  Laws 1981, LB 385, § 32.
NE Code § 2-4233 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4233 - Person executing bonds; not subject to personal liability.

2-4233.  Person executing bonds; not subject to personal liability.Neither the members of the board of directors of the corporation nor any other person executing the bonds issued under the Conservation Corporation Act shall be subject to personal liability or accountability by reason of the issuance thereof.Source   Laws 1981, LB 385, § 33;   Laws 1985, LB 387, § 17.
NE Code § 2-4234 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4234 - Capital reserve fund; creation; expenditures.

2-4234.  Capital reserve fund; creation; expenditures.The corporation may, if it deems the same desirable, create and establish a capital reserve fund for an issue of bonds or more than one issue of bonds. The corporation may create and establish one or more than one capital reserve fund. The capital reserve fund may be created and established from:(1) Any proceeds of the sale of bonds, to the extent provided in the resolution of the corporation authorizing the issuance of such bonds;(2) Money directed by the corporation to be transferred to such capital reserve fund; and(3) Any other money which may be made available to the corporation for such fund from any other source or sources.All money held in any capital reserve fund shall be used, as required, solely for the payment of the principal of bonds or of the sinking fund payments with respect to the bonds, the purchase or redemption of bonds, the payment of the interest on the bonds, or the payment of any redemption premium required to be paid when the bonds are redeemed prior to maturity.Source  Laws 1981, LB 385, § 34.
NE Code § 2-4235 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4235 - Capital reserve fund; withdrawals; when; income or interest earned; use.

2-4235.  Capital reserve fund; withdrawals; when; income or interest earned; use.Money in any capital reserve fund, if such fund is created, shall not be withdrawn therefrom at any time in an amount that would reduce the level of money in such fund to less than the applicable capital reserve fund requirement, as such requirement is defined in the trust indenture creating the same, except for the purposes of paying the principal and the redemption price of or interest on the bonds and the sinking fund payment with respect to the bonds, as the same become due, and for the payment of which other money of the corporation is not available. Any income or interest earned by the investment of money held in any such capital reserve fund may be transferred by the corporation to other funds or accounts of the corporation to the extent that the transfer does not reduce the amount of such capital reserve fund to below the capital reserve fund requirement applicable thereto.Source   Laws 1981, LB 385, § 35;   Laws 1983, LB 20, § 14.
NE Code § 2-4236 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4236 - Bond issuance; capital reserve fund; applicability.

2-4236.  Bond issuance; capital reserve fund; applicability.The corporation may provide by resolution that it shall not issue bonds under a resolution at any time if upon issuance the amount in the capital reserve fund which will secure the bonds shall be less than the applicable capital reserve fund requirement, unless the corporation at the time of issuance of the bonds shall deposit in such capital reserve fund from the proceeds of the bonds to be issued, or other sources, an amount which, together with the amount then in such capital reserve fund, shall not be less than the applicable capital reserve fund requirement.Source  Laws 1981, LB 385, § 36.
NE Code § 2-4237 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4237 - Capital reserve fund; value; how computed.

2-4237.  Capital reserve fund; value; how computed.In computing the amount of the capital reserve fund for the purposes of sections 2-4201 to 2-4246, securities in which all or a portion of the fund shall be invested shall be valued at a par, cost, or by such other method of valuation as the corporation may provide by resolution.Source  Laws 1981, LB 385, § 37.
NE Code § 2-4238 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4238 - Creation of other funds.

2-4238.  Creation of other funds.The corporation may also create and establish any other funds as may be necessary or desirable for its purposes.Source  Laws 1981, LB 385, § 38.
NE Code § 2-4239 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4239 - Money; deposits; secured; expenditures.

2-4239.  Money; deposits; secured; expenditures.All money of the corporation, except as otherwise authorized or provided in sections 2-4201 to 2-4246, 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 the national banking associations. The money in such accounts shall be paid out on checks signed by the administrator or other officers or employees of the corporation as the corporation shall authorize. All deposits of money shall, if required by the corporation, be secured in such a manner as the corporation determines to be prudent, and all banks or trust companies are authorized to give security for the deposits.Source  Laws 1981, LB 385, § 39.
NE Code § 2-4240 (2021)
2021 Nebraska Revised Statutes|Chapter 2 - Agriculture|2-4240 - Contract with bondholders; purposes; money; how secured.

2-4240.  Contract with bondholders; purposes; money; how secured.Notwithstanding the provisions of section 2-4239, the corporation shall have the power to contract with the holders of any of its bonds as to the custody, collection, security, investment, and payment of any money of the corporation and of any money held in trust or otherwise for the payment of bonds, and to carry out such contract. Money held in trust or otherwise for the payment of bonds or in any way to secure bonds and deposits of money may be secured in the same manner as money of the corporation, and all banks and trust companies are authorized to give security for the deposits.Source  Laws 1981, LB 385, § 40.