85-427. Student housing or student activity facilities; financing; Board of Trustees of the Nebraska State Colleges; powers.

329 words·~1 min read·/ne/chapter-85/85-427

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

(1)The Board of Trustees of the Nebraska State Colleges may enter into long-term leases, lease-purchase agreements, or financing contracts with any person, firm, governmental entity, or corporation to finance or refinance student housing or student activity facilities for use by the state colleges. The board of trustees may also convey, lease, or lease back all or any part of its student housing or student activity facilities and the land on which any such facility is situated to such person, firm, governmental entity, or corporation as the board of trustees may contract with to facilitate the long-term payment of the cost of such facilities. Any such long-term lease, lease-purchase agreement, or financing contract may include payments over multiple years from any source legally available to the board of trustees exclusive of state tax funds, may include student housing or student activity facilities on property owned by the Board of Trustees of the Nebraska State Colleges or on property owned by any other person, firm, governmental entity, or corporation, and shall include such other terms and provisions as may be determined necessary or appropriate by, or at the direction of, the board of trustees. Any such financing for a new student housing project shall be subject to the receipt of project approval from the Coordinating Commission for Postsecondary Education as required by subsection

(10)of section 85-1414 , as long as state tax funds are not being used for the project.

(2)The authority provided in this section shall be deemed to provide a complete method for the measures and actions authorized in this section and shall be regarded as supplemental and additional to powers conferred by other laws. The board of trustees, employing the authority set forth in this section, shall not be required to comply with the requirements of any other law applicable to entering into long-term contracts, pledging revenue, the financing and approval of facilities under the control of the board of trustees, and other related matters.