§ 72-240.26 — Board of Educational Lands and Funds; Nebraska Investment Council; annual report; contents

Nebraska § 72-240.26

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

Text

The
Board of Educational Lands and Funds and the Nebraska Investment Council shall
jointly report annually to the Clerk of the Legislature, and such report shall
contain anticipated future actions by the board as well as actions already
taken. The report submitted
to the Clerk of the Legislature shall be submitted electronically. The
board's portion of the report shall include (1) with reference to each tract
of land sold pursuant to section 72-201.01 : (a) The legal description; (b)
the unique characteristics of the land being sold; (c) the appraised value;
(d) the sale price; (e) the amount of funds received in the calendar year
covered by the report from the sale; (f) the disposition of the funds; (g)
the total number of acres of any unsold educational lands remaining under
the general management and control of the board by county; (h) the total appraised
value of unsold land; and (i) the percentage of the investment portfolio remaining
in real estate, including all nonagricultural real estate and (2) the corresponding
information for any land that has been acquired or traded. The council's portion
of the report shall include a cost-benefit analysis which considers the land
being sold versus the anticipated investment potential of proceeds resulting
from the sale. The cost-benefit analysis model used shall be consistent with
the standards of the investment industry at the time of the proposed sale.
Each member of the Legislature shall receive an
electronic copy of such report by making a request for it to the
chairperson of the board.

Legislative History

Source: Laws 1974, LB 894, § 6; Laws 1979, LB 322, § 31; Laws 1996, LB 1205, § 2; Laws 2000, LB 1010, § 2; Laws 2012, LB782, § 129.