72-2216. Capitol Preservation, Restoration, and Enhancement Endowment Fund; created; use; investment.
191 words·~1 min read·
/ne/chapter-72/72-2216A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)The Capitol Preservation, Restoration, and Enhancement Endowment Fund is created. The commission shall administer the fund. The fund shall consist of money transferred to the fund by the Legislature and bequests, donations, gifts, grants, or other money received from any federal or state agency or public or private source for the preservation, restoration, and enhancement of the State Capitol and capitol grounds. Any money accepted by the state for credit to the fund that is subject to conditions shall be held in trust and used subject to such conditions. 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.
(2)The State Treasurer shall transfer money from the Capitol Preservation, Restoration, and Enhancement Endowment Fund to the Capitol Restoration Cash Fund in amounts and at times as directed by the commission. Money transferred from the Capitol Preservation, Restoration, and Enhancement Endowment Fund in any year shall not exceed four percent of the total balance in the fund as the balance existed on January 1 of the most recent odd-numbered year.