81-912. Federal Surplus Property Fund; created; purpose; investment.
142 words·~1 min read·
/ne/chapter-81/81-912A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
There is hereby established in the Department of Correctional Services a revolving fund to be known as the Federal Surplus Property Fund. The Director of Administrative Services, upon receipt of proper vouchers approved by the Department of Correctional Services, shall issue warrants out of the Federal Surplus Property Fund for the purpose of administering the program and for purchasing, packing, handling, and transportation of equipment from the federal government as provided by section 81-914 but never in excess of the amount specifically appropriated.
All receipts for purchasing, packing, handling, and transportation of such equipment shall be remitted to the State Treasurer for credit to the Federal Surplus Property Fund. Any money in the Federal Surplus Property 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.