Nebraska § 79-1844 Authority; charge rents; lease facilities

Nebraska Statutes

§ 79-1844 — Authority; charge rents; lease facilities

Nebraska § 79-1844

Ch. 79Schools

This text of Nebraska § 79-1844 (Authority; charge rents; lease facilities) 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.

Bluebook

Neb. Rev. Stat. § 79-1844 (2026).

Text

Except for projects financed pursuant to section  79-1841 , the authority shall fix, revise, charge, and collect rents for the use of each project and contract with any elementary or secondary school in respect thereof. Each lease entered into by the authority with an elementary or secondary school shall provide that the rents payable by the elementary or secondary school shall be sufficient at all times (1) to pay its share of the administrative costs and expenses of the authority, (2) to pay the authority's cost, if any, of maintaining, repairing, and operating the project and each and every portion thereof, (3) to pay the principal of, the premium, if any, and the interest on outstanding bonds of the authority issued with respect to such project as the same shall become due and payable,

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Except for projects financed pursuant to section 79-1841 , the authority shall fix, revise, charge, and collect rents for the use of each project and contract with any elementary or secondary school in respect thereof. Each lease entered into by the authority with an elementary or secondary school shall provide that the rents payable by the elementary or secondary school shall be sufficient at all times (1) to pay its share of the administrative costs and expenses of the authority, (2) to pay the authority's cost, if any, of maintaining, repairing, and operating the project and each and every portion thereof, (3) to pay the principal of, the premium, if any, and the interest on outstanding bonds of the authority issued with respect to such project as the same shall become due and payable, and (4) to create and maintain reserves which may be provided for in the bond resolution or trust agreement relating to such bonds of the authority.
With respect to projects financed pursuant to section 79-1841 , the authority shall require the elementary or secondary school involved to enter into agreements obligating such school to make payments sufficient to accomplish the purposes described in this section.