§ 72-202 — School funds; investments

Nebraska § 72-202

• Jurisdiction: Nebraska
• Ch. 72: Public Lands, Buildings, and Funds

Text

The Board of Educational Lands and Funds shall notify the state investment officer of the funds derived from the sale of school lands. Any such funds and the interest therefrom shall be invested by the state investment officer pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act. The state investment officer shall manage the funds as follows: (1) When necessary to pay a premium for bonds for such funds, the amount of the premium shall be amortized over the term of the bonds from the interest received on such bonds; and (2) when bonds for such funds are purchased at a discount, the amount of the discount shall be used to purchase additional bonds.

Legislative History

Source: Laws 1899, c. 69, § 2, p. 301; Laws 1909, c. 129, § 1, p. 473; R.S.1913, § 5846; Laws 1917, c. 113, § 1, p. 285; C.S.1922, § 5182; C.S.1929, § 72-202; Laws 1931, c. 119, § 1, p. 349; Laws 1933, c. 141, § 1, p. 551; Laws 1937, c. 159, § 1, p. 622; C.S.Supp.,1941, § 72-202; R.S.1943, § 72-202; Laws 1951, c. 235, § 1, p. 840; Laws 1959, c. 263, § 11, p. 943; Laws 1969, c. 584, § 76, p. 2392; Laws 1971, LB 52, § 1; Laws 1983, LB 238, § 1; Laws 1995, LB 7, § 83; Laws 1999, LB 779, § 13. Cross References: For other investment provisions, see sections 77-2204 and 77-2205. Nebraska Capital Expansion Act, see section 72-1269. Nebraska State Funds Investment Act, see section 72-1260. Permanent Endowment Fund, see section 85-123. State colleges, endowment fund, see section 85-317.