reglab/statecodes huggingface dataset:
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-230 - Meetings; when held; virtual conferencing authorized.

58-230.
Meetings; when held; virtual conferencing authorized.
Meetings of the members of the authority shall be held at least once every three months to attend to the business of the authority and may be held at the call of the chairperson or whenever any five members so request. Such meetings shall at all times be subject to the Open Meetings Act, and such meetings may be held by means of virtual conferencing in accordance with subsection (2) of section 84-1411.
Source
Laws 1983, LB 626, § 30;
Laws 1991, LB 253, § 32;
Laws 1996, LB 1322, § 7;
Laws 2004, LB 821, § 14;
Laws 2021, LB83, § 6.
Cross References
Open Meetings Act, see section 84-1407.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-231 - Executive director; powers and duties.

58-231.
Executive director; powers and duties.
The members of the authority shall appoint an executive director who shall be an employee but not a member of the authority and who shall serve at the pleasure of the members and receive compensation fixed by the members. The executive director shall serve as the ex officio secretary of the authority, shall administer, manage, and direct the affairs and activities of the authority in accordance with the policies and under the control and direction of the members, and shall approve all accounts for salaries, allowable expenses of the authority or of any employee or consultant thereof, and expenses incidental to the operation of the authority. The executive director may, to the extent he or she deems it advisable, establish such divisions within the authority as necessary to carry out the public purposes of the authority. He or she shall perform such other duties as may be directed by the members in carrying out the purposes of the Nebraska Investment Finance Authority Act.
Source
Laws 1983, LB 626, § 31;
Laws 1991, LB 253, § 33.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-232 - Executive director; meetings; records; duties.

58-232.
Executive director; meetings; records; duties.
The executive director shall attend the meetings of the members of the authority, keep a record of the proceedings of the authority, and maintain and be custodian of all books, documents, and papers filed with the authority, of the minute book or journal of the authority, and of its official seal. The executive director may cause copies to be made of all minutes and other records and documents of the authority and may give certificates under seal of the authority to the effect that such copies are true copies, and all persons dealing with the authority may rely upon such certificates.
Source
Laws 1983, LB 626, § 32;
Laws 1991, LB 253, § 34.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-234 - Authority; personnel.

58-234.
Authority; personnel.
The authority may employ legal counsel, technical experts, and such other officers, agents, and employees, permanent or temporary, as it deems necessary to carry out the efficient operation of the authority and shall determine qualifications, duties, compensation, and terms of office. The members may delegate to one or more agents or employees of the authority such administrative duties as they deem proper.
Source
Laws 1983, LB 626, § 34;
Laws 1991, LB 253, § 35.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-235 - Authority; member or employee; conflict of interest; disclosure.

58-235.
Authority; member or employee; conflict of interest; disclosure.
Any member or employee of the authority who has, will have, or later acquires any direct or indirect interest in any transaction with the authority shall immediately disclose the nature and extent of such interest in writing to the authority as soon as he or she has knowledge of such interest. Such disclosure shall be entered upon the minutes of the authority. Upon such disclosure such member or employee shall not participate in any action by the authority authorizing such transaction. Actions taken when such member or employee reasonably believed that he or she had no conflict shall not be invalidated because of such conflict. The fact that a member is also an officer or owner of an organization shall not be deemed to be a direct or indirect interest unless (1) such member has an ownership interest of greater than five percent in such organization or (2) the transaction in question does not involve all similar organizations but involves only the authority and such organization.
Source
Laws 1983, LB 626, § 35;
Laws 1991, LB 253, § 36.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-236 - Officer or employee of state; membership on or service to authority; how treated.

58-236.
Officer or employee of state; membership on or service to authority; how treated.
Notwithstanding any other law, no officer or employee of this state shall be deemed to have forfeited or shall forfeit his or her office or employment by reason of acceptance of membership in the authority or of providing services to such authority.
Source
Laws 1983, LB 626, § 36;
Laws 1991, LB 253, § 37.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-237 - Authority; members; executive director; surety bond.

58-237.
Authority; members; executive director; surety bond.
Before the issuance of any bonds under the Nebraska Investment Finance Authority Act, each member of the authority shall execute a surety bond in the penal sum of twenty-five thousand dollars. The executive director of the authority shall execute a surety bond in the penal sum of fifty thousand dollars. To the extent that any member of the authority or the executive director of the authority is already covered by a bond required by state law, such member or the executive director need not obtain another bond so long as the bond required by state law is in at least the penal sum specified in this section and covers the member's or executive director's activities for the authority. In lieu of such bonds the chairperson of the authority may execute a blanket surety bond covering each member, the executive director, and the employees or other officers of the authority. Each surety bond shall be conditioned upon the faithful performance of the duties of the office of the member or executive director and shall be issued by a surety company authorized to transact business in the state as surety. At all times after the issuance of any surety bonds, each member and executive director shall maintain such surety bonds in full force and effect. All costs of the surety bonds shall be paid by the authority.
Source
Laws 1983, LB 626, § 37;
Laws 1991, LB 253, § 38.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-238 - Authority; members; liability.

58-238.
Authority; members; liability.
Members of the authority shall not be liable to the state, the authority, or any other person as a result of their activities, whether ministerial or discretionary, as authority members, except for willful dishonesty or intentional violations of law. Members of the authority and any person executing bonds or policies of insurance shall not be liable personally thereon or be subject to any personal liability or accountability by reason of the issuance thereof. The authority may purchase liability insurance for members, officers, and employees and may indemnify any authority member to the same extent that a school district may indemnify a school board member pursuant to section 79-516.
Source
Laws 1983, LB 626, § 38;
Laws 1991, LB 253, § 39;
Laws 1996, LB 900, § 1054.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-239.01 - Authority; microenterprises; powers and duties.

58-239.01.
Authority; microenterprises; powers and duties.
(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 money in such fund or account;
(b) Borrow money and issue bonds for the purpose of making guaranties of loans to microenterprises or any program of making such guaranties; and
(c) Enforce any and all rights it may have pursuant to such guaranties.
(2) Prior to exercising any of the powers granted by subsection (1) of this section, the authority shall adopt program eligibility guidelines:
(a) Specifying the type and amount of loans that may be guaranteed and the security or collateral, if any, to be provided by the microenterprise;
(b) Designed to avoid competing with private financial institutions to the extent private financial institutions are making such guaranties on reasonably favorable terms;
(c) Insuring that the public purposes specified in section 58-202, particularly subsection (4) of section 58-202, and subdivision (1)(c) of section 58-203 are effectuated and specifically addressing the effect on the economic and tax base of the state, tax revenue, and employment opportunities; and
(d) Addressing any other matters related to the exercise of the authority's powers under subsection (1) of this section.
Source
Laws 1996, LB 1322, § 9.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-239.02 - Authority; wastewater treatment and safe drinking water projects; powers and duties.

58-239.02.
Authority; wastewater treatment and safe drinking water projects; powers and duties.
(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 the issuance of bonds in the Wastewater Treatment Facilities Construction Loan Fund to be used to make loans for wastewater treatment projects or in such fund or any comparable state fund established with respect to financing safe drinking water facilities to be used to make loans for safe drinking water projects. Loans made through the Wastewater Treatment Facilities Construction Loan Fund for wastewater treatment facilities shall be originated and serviced pursuant to the Wastewater Treatment Facilities Construction Assistance Act. Loans made through a fund for safe drinking water facilities shall be originated and serviced pursuant to the law creating such fund.
(2) Upon the issuance of bonds for aiding the financing of wastewater treatment projects or safe drinking water projects and at the earliest time that bond proceeds become available, the authority shall transfer the proceeds, less the cost of the issuance and financing of such bond issues and the debt service reserve fund, if any, to the Wastewater Treatment Facilities Construction Loan Fund for wastewater treatment projects or to the appropriate state fund established to finance safe drinking water projects for safe drinking water projects.
Source
Laws 1989, LB 311, § 6;
Laws 1996, LB 1322, § 10.
Cross References
Wastewater Treatment Facilities Construction Assistance Act, see section 81-15,147.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-239.03 - Authority; public safety communication projects; powers.

58-239.03.
Authority; public safety communication projects; powers.
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 created pursuant to the Interlocal Cooperation Act or a joint public agency created pursuant to the Joint Public Agency Act.
Source
Laws 2002, LB 1211, § 7.
Cross References
Interlocal Cooperation Act, see section 13-801.
Joint Public Agency Act, see section 13-2501.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-239.04 - Authority; economic-impact projects; powers and duties.

58-239.04.
Authority; economic-impact projects; powers and duties.
(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 connection with financing or providing resources for economic-impact projects;
(c) Create, operate, manage, invest in, and own entities or other consortia created for the purpose of facilitating economic-impact projects; and
(d) Provide resources for economic-impact projects, in an amount not to exceed ten million dollars per project, including, but not limited to, making loans or providing equity through investment therein or ownership thereof or through other means or agreements.
(2) The authority may exercise any of the powers authorized by this section only after a public hearing has been held detailing the economic-impact project to be assisted and allowing for input from the public. Notice of the public hearing shall be given at least two weeks in advance of the hearing in a newspaper of general circulation within the county affected by the economic-impact project, which notice shall give a general designation of the project and identify where more detailed plans may be reviewed prior to the hearing.
Source
Laws 2006, LB 693, § 8.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-240 - Authority; duties; enumerated.

58-240.
Authority; duties; enumerated.
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, any obligations of the United States or agencies thereof, obligations of this state, or any obligations or securities which may from time to time be legally purchased by governmental subdivisions of this state pursuant to subsection (1) of section 77-2341, except that any funds pledged to secure a bond issue shall be invested in the manner permitted by the indenture securing such bonds;
(2) Collect fees and charges the authority determines to be reasonable in connection with its loans, advances, insurance, commitments, and servicing;
(3) Cooperate with and exchange services, personnel, and information with any federal, state, or local governmental agency;
(4) Sell, at public or private sale, with or without public bidding, any mortgage or other obligation held by the authority; and
(5) Do any act necessary or convenient to the exercise of the powers granted by the Nebraska Investment Finance Authority Act or reasonably implied from such act.
Source
Laws 1983, LB 626, § 40;
Laws 1989, LB 221, § 3;
Laws 1991, LB 253, § 42.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-241 - Authority; coordinate activities with state.

58-241.
Authority; coordinate activities with state.
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 Development.
Source
Laws 1983, LB 626, § 41.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-242 - Authority; agricultural projects; duties.

58-242.
Authority; agricultural projects; duties.
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 than one million dollars;
(2) That the lender certify and agree that it will use the proceeds of such loan, investment, sale, or assignment within a reasonable period of time to make loans or purchase loans to provide agricultural enterprises or, if such lender has made a commitment to make loans to provide agricultural enterprises on the basis of a commitment from the authority to purchase such loans, such lender will make such loans and sell the same to the authority within a reasonable period of time;
(3) That the lender certify that the borrower is an individual who is actively engaged in or who will become actively engaged in an agricultural enterprise after he or she receives the loan or that the borrower is a firm, partnership, limited liability company, corporation, or other entity with all owners, partners, members, or stockholders thereof being natural persons who are actively engaged in or who will be actively engaged in an agricultural enterprise after the loan is received;
(4) That the aggregate amount of the loan received by a borrower shall not exceed five hundred seventeen thousand seven hundred dollars, as such amount shall be adjusted for inflation in accordance with section 147(c) of the Internal Revenue Code of 1986, as amended. In computing such amount a loan received by an individual shall be aggregated with those loans received by his or her spouse and minor children and a loan received by a firm, partnership, limited liability company, or corporation shall be aggregated with those loans received by each owner, partner, member, or stockholder thereof; and
(5) That the recipient of the loan be identified in the minutes of the authority prior to or at the time of adoption by the authority of the resolution authorizing the issuance of the bonds which will provide for financing of the loan.
Source
Laws 1983, LB 626, § 42;
Laws 1991, LB 253, § 43;
Laws 1993, LB 121, § 356;
Laws 2005, LB 90, § 17;
Laws 2015, LB515, § 1;
Laws 2023, LB562, § 12.
Effective Date: September 2, 2023
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-243 - Authority; agricultural projects; powers.

58-243.
Authority; agricultural projects; powers.
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 guaranteed by a loan guarantor;
(2) Require any type of security that it deems reasonable and necessary; or
(3) Authorize the reservation of funds by lenders in such amount and subject to such conditions as the authority considers reasonable and necessary.
Source
Laws 1983, LB 626, § 43;
Laws 1991, LB 253, § 44.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-244 - Authority; agricultural projects; adopt rules and regulations.

58-244.
Authority; agricultural projects; adopt rules and regulations.
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, including rules and regulations relating to any or all of the following:
(1) Procedures for the submission of requests or invitations and proposals for making loans to lenders and the investment in, purchase, assignment, and sale of loans;
(2) The reinvestment by lenders of the proceeds or an equivalent amount from any loan to lenders or the investment in or purchase by the authority or the assignment or sale of loans to the authority in loans to provide for financing agricultural enterprises;
(3) The number and location of agricultural projects and other characteristics of agricultural enterprises, including, to the extent reasonably possible, assurance that the agricultural enterprises to be financed by an issue of bonds or series of issues will improve employment conditions or otherwise enhance the welfare of persons in the agricultural sector, as determined by the authority, to be financed directly or indirectly by the authority pursuant to the act;
(4) Rates, fees, charges, and other terms and conditions of originating or servicing loans in order to protect against realization of an excessive financial return or benefit by the originator or servicer;
(5) The type and amount of collateral or security to be provided to insure repayment of loans made by the authority;
(6) The type of collateral, payment bonds, performance bonds, or other security to be provided for any construction loans made by a lender;
(7) The nature and amount of fees to be charged by the authority to provide for expenses and reserves of the authority;
(8) Standards and requirements for the allocation of available money among lenders and the determination of the maturities, terms, conditions, and interest rates for loans made, purchased, sold, assigned, or committed pursuant to the act;
(9) Commitment requirements for agricultural financing by lenders involving money provided directly or indirectly by the authority; and
(10) Any other matters related to the duties or exercise of the authority's powers or duties under the act.
Source
Laws 1983, LB 626, § 44;
Laws 1991, LB 253, § 45.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-245 - Agricultural projects; loan; reports required; contents.

58-245.
Agricultural projects; loan; reports required; contents.
(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 which includes the following information:
(a) The name and description of the lender;
(b) The name of the loan guarantor or loan insurer, when applicable;
(c) The amount and purpose of the loan;
(d) A description of the agricultural enterprise for which the loan is to be used, including the county in which the enterprise is located;
(e) The rate of interest applicable to the loan and the current interest rate in the conventional farm credit market for that locality;
(f) The maturity date of the loan;
(g) All conditions attaching to the loan;
(h) The amount and description of fees associated with servicing and processing the loan;
(i) Whether the borrower is an individual farmer, a farm partnership, a farm limited liability company, a farm corporation, or another farm entity;
(j) The age of the borrower or, if the borrower is a farm partnership, a farm limited liability company, a farm corporation, or another farm entity, the ages of all of the owners, partners, or stockholders; and
(k) A statement of the gross farm sales, total assets, total liabilities, and net worth of each borrower.
(2) The authority shall also prepare, following the close of each fiscal year, a report which summarizes the individual loan reports required by subsection (1) of this section setting forth the following information regarding loans made during the immediately preceding fiscal year:
(a) The number of loans;
(b) The average principal amount of such loans;
(c) The average interest rate savings with respect to such loans;
(d) The average age of the borrowers;
(e) The average net worth of the borrowers; and
(f) A comparison of the items listed in subdivisions (a) through (e) of this subsection to the information included in the summary report for the prior year.
Source
Laws 1983, LB 626, § 45;
Laws 1991, LB 253, § 46;
Laws 1993, LB 121, § 357.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-246 - Agricultural projects; loan reports; public information; borrower's name omitted.

58-246.
Agricultural projects; loan reports; public information; borrower's name omitted.
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 individual reporting forms from the preceding year together with the report required pursuant to subsection (2) of section 58-245. The reporting forms and the report submitted to the Clerk of the Legislature shall be submitted electronically. Any member of the Legislature shall receive an electronic copy of such reports by making a request to the chairperson of the authority.
Source
Laws 1983, LB 626, § 46;
Laws 1991, LB 253, § 47;
Laws 2012, LB782, § 85.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-247 - Authority; housing projects; powers.

58-247.
Authority; housing projects; powers.
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;
(2) Require any type of security that it deems reasonable and necessary; or
(3) Authorize the reservation of funds by mortgage lenders in such amount and subject to such conditions as the authority considers reasonable and necessary under the act.
Source
Laws 1983, LB 626, § 47;
Laws 1991, LB 253, § 48.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-248 - Authority; housing projects; adopt rules and regulations.

58-248.
Authority; housing projects; adopt rules and regulations.
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, including rules and regulations relating to any or all of the following:
(1) Procedures for the submission of requests or invitations and proposals for making loans to mortgage lenders and the investment in, purchase, assignment, and sale of mortgages or mortgage loans;
(2) The reinvestment by mortgage lenders of the proceeds or an equivalent amount from any loan to mortgage lenders or the investment in or purchase by the authority or the assignment or sale of mortgages or mortgage loans to the authority in mortgages or mortgage loans to provide residential housing for low-income or moderate-income persons, particularly first-time homebuyers;
(3) The number of dwelling units, location of the units, and other characteristics of residential housing, including, to the extent reasonably possible, assurance that the residential housing to be financed by an issue of bonds or series of issues will be an adequate mixture of low-income and moderate-income residential housing benefiting particularly first-time homebuyers, as determined by the authority, to be financed directly or indirectly by the authority pursuant to the act;
(4) Rates, fees, charges, and other terms and conditions of originating or servicing loans, mortgages, or mortgage loans in order to protect against realization of an excessive financial return or benefit by the originator or servicer;
(5) The type and amount of collateral or security to be provided to assure repayment of loans made by the authority;
(6) The type of collateral, payment bonds, performance bonds, or other security to be provided for any mortgage loans made by a mortgage lender for construction loans;
(7) The nature and amount of fees to be charged by the authority to provide for expenses and reserves of the authority;
(8) Standards and requirements for the allocation of available money among mortgage lenders and the determination of the maturities, terms, conditions, and interest rates for loans, mortgages, or mortgage loans made, purchased, sold, assigned, or committed pursuant to the act;
(9) Commitment requirements for residential housing financing for low-income and moderate-income persons by mortgage lenders involving money provided directly or indirectly by the authority;
(10) The procedures, standards, commitment requirements, and other matters necessary to offer an effective residential energy conservation loan program; or
(11) Any other matters related to the duties or exercise of the authority's powers or duties under the act.
Source
Laws 1983, LB 626, § 48;
Laws 1991, LB 253, § 49.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-249 - Authority; low-income housing loans; establish funds.

58-249.
Authority; low-income housing loans; establish funds.
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 principal amount of fifty million dollars or more for purposes of financing residential housing, the authority shall establish within such bond issue a fund of at least one million dollars to finance mortgages for low-income persons at an interest rate below the interest rate which otherwise applies to mortgages financed from such bond issue.
Source
Laws 1983, LB 626, § 49;
Laws 1991, LB 253, § 50.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-250 - Authority; development projects; adopt rules and regulations.

58-250.
Authority; development projects; adopt rules and regulations.
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 such act, including rules and regulations relating to any or all of the following:
(1) The type and amount of collateral or security to be provided to insure repayment of loans made by the authority;
(2) The type of collateral, payment bonds, performance bonds, or other security to be provided for any mortgage or loan made for projects;
(3) The nature and amount of fees to be charged by the authority to provide for expenses and reserves of the authority;
(4) Standards and requirements for determination of the maturities, terms, conditions, and interest rates for loans or mortgages made, purchased, sold, assigned, or committed; and
(5) Any other matters related to the duties or exercise of the authority's powers or duties under the act.
Source
Laws 1983, LB 626, § 50;
Laws 1989, LB 706, § 8;
Laws 1991, LB 253, § 51.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-251 - Authority; development project; make specific findings.

58-251.
Authority; development project; make specific findings.
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 subdivision (3)(a), (3)(b), or (3)(c) of section 58-219, the project's effect on the economic base, the tax base, tax revenue, and employment opportunities, and (2) with respect to a project as defined in subdivision (3)(d) of section 58-219, the project's effect on the provision, including the continued provision, of health care, child care, and related services.
Source
Laws 1983, LB 626, § 51;
Laws 2022, LB707, § 41.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-252 - Authority; borrow money and issue bonds; purposes.

58-252.
Authority; borrow money and issue bonds; purposes.
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 Authority Act;
(2) The payment of interest on bonds issued under the act;
(3) The establishment of reserves to secure the bonds in an amount not to exceed twenty-five percent of the aggregate principal amount of the particular issue of bonds; and
(4) All other expenditures of the authority incident to and necessary and convenient to carry out its purposes and powers.
Source
Laws 1983, LB 626, § 52;
Laws 1991, LB 253, § 52.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-253 - Authority; issue bonds to renew, pay, or refund bonds.

58-253.
Authority; issue bonds to renew, pay, or refund bonds.
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 not the project as originally financed with the bonds would at the time of the refunding qualify as a project, and may issue bonds 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.
Bonds originally issued by any municipality, county, hospital authority, housing authority, or other political subdivision may be subject to refunding pursuant to this section if the original issuer and beneficiary of the bonds request the authority to issue refunding bonds and the bonds to be refunded financed a project which would at the time of refunding qualify as a project.
Source
Laws 1983, LB 626, § 53;
Laws 1991, LB 253, § 53;
Laws 1992, LB 1257, § 71.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-254 - Authority; bond issuance; general obligation; how paid and secured.

58-254.
Authority; bond issuance; general obligation; how paid and secured.
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 money or revenue. The bonds may be additionally secured by a pledge of any grant or contribution from the federal government or any corporation, association, institution, or person or a pledge of any money, income, or revenue of the authority from any source.
Source
Laws 1983, LB 626, § 54;
Laws 1991, LB 253, § 54.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-255 - Authority; bond issuance; state; no obligation; statement.

58-255.
Authority; bond issuance; state; no obligation; statement.
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 issued under the act shall contain on the face of such bond 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 1983, LB 626, § 55;
Laws 1991, LB 253, § 55.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-256 - Bond resolution; contents; sale; manner; declaratory judgment.

58-256.
Bond resolution; contents; sale; manner; declaratory judgment.
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 more than thirty years from the date of its issue as the resolution provides. In no case shall any bond mature more than fifty years from the date of issue. The bonds shall bear interest at such rate or rates, including variations of such rates, 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 provides, except that facsimile signatures of all members of the authority shall be sufficient only if the resolution requires that the trustee for such bond issue manually authenticate each bond and the resolution permits the use of facsimile signatures. The resolution authorizing the bonds may provide that the bonds contain a recital that they are issued under the Nebraska Investment Finance Authority Act, and such recital shall be deemed conclusive evidence of the validity of the bonds and the regularity of the issuance. The provisions of section 10-126 shall not apply to bonds issued by the authority. Bonds of the authority may be sold by the authority at a public or private sale and at such price or prices as the authority shall determine.
The authority may bring an action for declaratory judgment to determine the validity of any issuance or proposed issuance of its bonds under the act and the legality and validity of all proceedings previously taken or proposed in a resolution of the authority to be taken for the authorization, issuance, sale, and delivery of such bonds and for the payment of the principal of and interest on such bonds.
Source
Laws 1983, LB 626, § 56;
Laws 1984, LB 372, § 11;
Laws 1991, LB 253, § 56.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-257 - Bond resolution; provisions enumerated.

58-257.
Bond resolution; provisions enumerated.
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 to such agreements with bondholders as then exist;
(2) Pledging all or any part of the assets of the authority, including financing agreements, mortgages, and obligations securing the same, to secure the payment of the bonds, subject to such agreements with bondholders as then exist;
(3) The use and disposition of the gross income from financing agreements, mortgages, or loans owned by the authority and payment of the principal of mortgages or loans owned by the authority;
(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 must consent thereto, and the manner in which the consent may be given;
(8) Limitations on the amount of money to be expended by the authority for operating expenses of the authority;
(9) Vesting in a trustee or trustees such property, rights, powers, and duties in trust as the authority may determine and limiting or abrogating the right of bondholders to appoint a trustee or limiting the rights, powers, and duties of the trustees;
(10) Defining the acts or omissions to act which shall constitute a default and the obligations or duties of the authority 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, except that the rights and remedies shall not be inconsistent with the general laws of this state and other provisions of the Nebraska Investment Finance Authority Act; and
(11) Any other matter of like or different character which in any manner affects the security or protection of the holders of the bonds.
Source
Laws 1983, LB 626, § 57;
Laws 1991, LB 253, § 57.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-258 - Authority; pledge; effect; lien; recording; not required.

58-258.
Authority; pledge; effect; lien; recording; not required.
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 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 authority, 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 1983, LB 626, § 58.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-259 - Authority; purchase bonds of authority; canceled; price.

58-259.
Authority; purchase bonds of authority; canceled; price.
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 price then applicable plus accrued interest to the next interest payment on such bonds.
Source
Laws 1983, LB 626, § 59;
Laws 1991, LB 253, § 58.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-260 - Bonds; secured by trust indenture; contents; expenses; how treated.

58-260.
Bonds; secured by trust indenture; contents; expenses; how treated.
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 within or outside 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 authority in relation to the exercise of its powers and the custody, safekeeping, and application of all money. The authority may provide by the trust indenture for the payment of the proceeds of the bonds and the revenue to the trustee under the trust indenture or other depository and for the method of disbursement of such proceeds, with such safeguards and restrictions as the authority may determine. All expenses incurred in carrying out the trust indenture may be treated as a part of the operating expenses of the authority. If the bonds are secured by a trust indenture, the bondholders shall have no authority to appoint a separate trustee to represent them.
Source
Laws 1983, LB 626, § 60;
Laws 1991, LB 253, § 59.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-261 - Bonds; negotiable instruments.

58-261.
Bonds; negotiable instruments.
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.
Source
Laws 1983, LB 626, § 61;
Laws 1991, LB 253, § 60.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-262 - Bonds; signatures of prior members or officers; validity.

58-262.
Bonds; signatures of prior members or officers; validity.
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 if such members or officers had remained in office until such delivery.
Source
Laws 1983, LB 626, § 62;
Laws 1991, LB 253, § 61.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-264 - Authority; money; deposits; secured; expenditures.

58-264.
Authority; money; deposits; secured; expenditures.
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 banking associations. The money in such accounts shall be paid out on checks signed by the executive director or other officers or employees of the authority as the authority authorizes. All deposits of money shall, if required by the authority, be secured in such a manner as the authority determines to be prudent, and all banks or trust companies may give security for the deposits.
Source
Laws 1983, LB 626, § 64;
Laws 1991, LB 253, § 62.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-265 - Authority; bondholders; contract; purposes; money; how secured.

58-265.
Authority; bondholders; contract; purposes; money; how secured.
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 and may 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 authority, and all banks and trust companies may give security for the deposits.
Source
Laws 1983, LB 626, § 65;
Laws 1991, LB 253, § 63.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-266 - Bondholders; pledge; agreement of the state.

58-266.
Bondholders; pledge; agreement of the state.
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 any way impair the rights or remedies of the holders until the bonds, together with the interest on such bonds, with interest on any unpaid installments of interest, and with all costs and expenses in connection with any action or proceeding by or on behalf of the holders, are fully met and discharged. The authority may include this pledge and agreement of the state in any agreement with the holders of the bonds.
Source
Laws 1983, LB 626, § 66;
Laws 1991, LB 253, § 64.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-267 - Authority; expenses; how paid; liability of state or political subdivision; prohibited.

58-267.
Authority; expenses; how paid; liability of state or political subdivision; prohibited.
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 or payable by this state or any political subdivision of this state.
Source
Laws 1983, LB 626, § 67.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-268 - Authority; property; public; exempt from taxation; when; dissolution; assets; how distributed.

58-268.
Authority; property; public; exempt from taxation; when; dissolution; assets; how distributed.
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 under such act, interest payable on such bonds, and income derived from such bonds shall at all times be exempt from all taxes imposed by the state or any county, city, or other political subdivision of the state. The authority may, in the resolution authorizing the issuance of any series of bonds, elect to have the income on such bonds be subject to personal income taxation imposed by the state. If the authority is dissolved, the ownership of any assets remaining after all indebtedness and other obligations of the authority have been discharged shall pass to the state. Notwithstanding that title to a project may be in the authority, such project shall be subject to taxation to the same extent, in the same manner, and under the same procedures as privately owned property in similar circumstances if such project is leased to or held by private interests.
Source
Laws 1983, LB 626, § 68;
Laws 1991, LB 253, § 65;
Laws 2001, LB 173, § 18.