This text of Nebraska § 66-1839 (Municipal Rate
Negotiations Revolving Loan Fund; created; use; administration; audit; investment;
loan repayment) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
(1)The Municipal Rate Negotiations
Revolving Loan Fund is created. The fund shall be used to make loans to cities
for rate negotiations under section 66-1838 or negotiations or litigation
under section 66-1867 , except
that transfers may be made from the fund to the General Fund at the direction
of the Legislature. Only one loan may be made for each rate filing
made by a jurisdictional utility within the scope of each section. Money in
the Municipal Natural Gas Regulation Revolving Loan Fund that is not necessary
to finance rate proceedings initiated prior to May 31, 2003, shall be transferred
to the Municipal Rate Negotiations Revolving Loan Fund on May 31, 2003, and
repayments of loans or other obligations owing to the Municipal Natural Gas
Regulation Revolving Loan Fund on May 31, 2
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(1) The Municipal Rate Negotiations
Revolving Loan Fund is created. The fund shall be used to make loans to cities
for rate negotiations under section 66-1838 or negotiations or litigation
under section 66-1867 , except
that transfers may be made from the fund to the General Fund at the direction
of the Legislature. Only one loan may be made for each rate filing
made by a jurisdictional utility within the scope of each section. Money in
the Municipal Natural Gas Regulation Revolving Loan Fund that is not necessary
to finance rate proceedings initiated prior to May 31, 2003, shall be transferred
to the Municipal Rate Negotiations Revolving Loan Fund on May 31, 2003, and
repayments of loans or other obligations owing to the Municipal Natural Gas
Regulation Revolving Loan Fund on May 31, 2003, shall be deposited in the
Municipal Rate Negotiations Revolving Loan Fund upon receipt. Any obligations
against or commitments of money from the Municipal Natural Gas Regulation
Revolving Loan Fund on May 31, 2003, shall be obligations or commitments of
the Municipal Rate Negotiations Revolving Loan Fund.
(2) The Municipal Rate Negotiations Revolving Loan Fund shall
be administered by the commission which shall adopt and promulgate rules and
regulations to carry out this section. The rules and regulations shall include:
(a) Loan application procedures and forms; and
(b) Fund-use monitoring and quarterly accounting of fund
use.
(3) Applicants for a loan from the fund shall provide a budget
statement which specifies the proposed use of the loan proceeds. Such proceeds
may only be used for the costs and expenses incurred by the city to analyze
rate filings for the purposes specified in section 66-1838 or 66-1867 . Such
costs and expenses may include the cost of rate consultants and attorneys
and any other necessary costs related to the negotiation process or litigation
under section 66-1867 . Disbursements from the fund shall be audited by the
commission. The affected jurisdictional utility may petition the commission
to initiate a proceeding to determine whether the disbursements from the fund
were expended by the negotiating cities consistent with the requirements of
this section.
(4) The fund shall be audited as part of the regular audit
of the commission's budget, and copies of the audit shall be available to
all cities and any jurisdictional utility. Audits conducted pursuant to this
section are public records.
(5) 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. If the fund balance
exceeds four hundred thousand dollars, the income on the money in the fund
shall be credited to the permanent school fund until the balance of the Municipal
Rate Negotiations Revolving Loan Fund falls below such amount.
(6) A city which receives a loan under this section shall
be responsible to provide for the opportunity for all other cities engaged
in the same negotiations with the same jurisdictional utility to participate
in all negotiations. Such city shall not exclude any other city from the information
or benefits accruing from the use of loan funds.
(7) Upon the conclusion of negotiations, regardless of the
result, the loan shall be repaid by the jurisdictional utility to the commission
within thirty days after the date upon which it is billed by the commission.
The utility shall recover the amount paid on the loan by a special surcharge
on ratepayers who are or will be affected by the rate increase request. These
ratepayers may be billed on their monthly statements for a period not to exceed
twelve months, and the surcharge may be shown as a separate item on the statements
as a charge for rate negotiation expenses.