58-256. Bond resolution; contents; sale; manner; declaratory judgment.

334 words·~2 min read·/ne/chapter-58/58-256

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

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.