39-2907. Infrastructure Development Investment Program Fund; created; use; investment.
195 words·~1 min read·
/ne/chapter-39/39-2907A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)The Infrastructure Development Investment Program Fund is created. The commission shall administer the fund. The fund shall consist of any:
(a)Transfer authorized by the Legislature;
(b)Federal money, including, but not limited to, any loan, grant, or cooperative agreement proceeds;
(c)State or local grant;
(d)Contribution, donation, endowment, or grant from any public or private source;
(e)Repayment, interest, or fee, or other income generated by investment program assistance;
(f)Bond proceeds or other financing proceeds; and
(g)Lawful source that is approved by the commission.
(2)Money in the fund may be used by the commission for any purpose that is described in section 39-2908 .
(3)Any money in the fund available for investment shall be invested by the state investment officer pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act.
(4)All repayments of money provided from the fund and all investment earnings from money in the fund shall be credited to the fund.
(5)It is the intent of the Legislature that all money in the fund shall be appropriated each fiscal year for the purposes that are described in section 39-2908 .