58-240. Authority; duties; enumerated.
193 words·~1 min read·
/ne/chapter-58/58-240A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.