58-250. Authority; development projects; adopt rules and regulations.

166 words·~1 min read·/ne/chapter-58/58-250

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

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.