For purposes of the Nebraska Governmental
Unit Credit Facility Act:
(1)Authorizing statute
means any statute which authorizes the issuance of bonds by a governmental
unit;
(2)Bank means any federally chartered or state-chartered bank, savings and loan
association, building and loan association, insurance company, or any other
public or private agency which insures or guarantees the indebtedness of other
persons or governmental units;
(3)Bond means any bond, note, interim certificate,
evidence of bond ownership, bond anticipation note, warrant, or other evidence
of indebtedness issued under any authorizing statute;
(4)Credit facility means any agreement
or other instrument providing for a guarantee or other contractual arrangement
providing direct or indirect assurance for payment of pr
Free access — add to your briefcase to read the full text and ask questions with AI
For purposes of the Nebraska Governmental
Unit Credit Facility Act:
(1) Authorizing statute
means any statute which authorizes the issuance of bonds by a governmental
unit;
(2)
Bank means any federally chartered or state-chartered bank, savings and loan
association, building and loan association, insurance company, or any other
public or private agency which insures or guarantees the indebtedness of other
persons or governmental units;
(3) Bond means any bond, note, interim certificate,
evidence of bond ownership, bond anticipation note, warrant, or other evidence
of indebtedness issued under any authorizing statute;
(4) Credit facility means any agreement
or other instrument providing for a guarantee or other contractual arrangement
providing direct or indirect assurance for payment of principal or interest
or both principal and interest on any bond issued by a governmental unit,
including, but not limited to, any letter of credit, contract of guarantee,
contract of insurance, standby purchase contract, or any other contract for
purchase or other agreement as to assurance of payment;
(5) Governmental unit
means any county, school district, city, village, public power district, public
power and irrigation district, sanitary and improvement district, educational
service unit, community college area, natural resources district, airport
authority, fire protection district, hospital district, hospital authority,
housing authority, joint entity created under the Interlocal Cooperation Act,
joint public agency created under the Joint Public Agency Act, instrumentality,
or any other district, authority, or political subdivision of the State of
Nebraska;
(6)
Measure means any ordinance, resolution, or other enactment by a governmental
unit, or any amendment or supplement to any such ordinance, resolution, or
other enactment authorizing the issuance of bonds or authorizing an indenture
with respect to bonds pursuant to an authorizing statute;
(7) Terms and conditions
means the terms and conditions of a credit facility, which may include, but
are not limited to, (a) representations and warranties; (b) payment of fees
and expenses; (c) reimbursement of amounts advanced and payment of interest
on amounts advanced; (d) holding harmless for additional taxes or increased
costs payable by the credit facility provider; (e) remarketing or resale of
purchased bonds; (f) indemnification for liabilities incurred by a credit
facility provider; (g) affirmative and negative covenants relating to bonds
for which assurance is provided; (h) provisions relating to defaults and remedies
upon default; and (i) such other provisions as may be determined by the governing
body of a governmental unit to be either customary or appropriate in obtaining
a credit facility; and
(8)
United States governmental enterprise means any agency or instrumentality
of the United States Government. For all purposes of the Nebraska Governmental
Unit Credit Facility Act, the term United States governmental enterprise shall
be conclusively construed as including, but not limited to, any of the Federal
Home Loan Banks, the Federal National Mortgage Association, and the Federal
Home Loan Mortgage Corporation.