Nebraska § 85-192 University of
Nebraska at Omaha Cash Fund; University of Nebraska at Omaha Trust Fund; created;
purposes; disbursements; investment

Nebraska Statutes

§ 85-192 — University of Nebraska at Omaha Cash Fund; University of Nebraska at Omaha Trust Fund; created; purposes; disbursements; investment

Nebraska·Ch. 85 State University, State Colleges, and Postsecondary Education

There is hereby
created a University of Nebraska at Omaha Cash Fund which shall consist of
all fees and other money collected from students at the University of Nebraska
at Omaha by authority of the Board of Regents of the University of Nebraska
for university purposes, all receipts from all university activities at the
University of Nebraska at Omaha collected in connection with the operation
of such university, and the money and funds received at the time the University
of Nebraska at Omaha was established. A record shall be kept separating such
money and funds into appropriate and convenient accounts. All money and funds
accruing to the cash fund shall be used for the maintenance
and operation of the University of Nebraska at Omaha and shall at all times
be subject to the orders of the 

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There is hereby
created a University of Nebraska at Omaha Cash Fund which shall consist of
all fees and other money collected from students at the University of Nebraska
at Omaha by authority of the Board of Regents of the University of Nebraska
for university purposes, all receipts from all university activities at the
University of Nebraska at Omaha collected in connection with the operation
of such university, and the money and funds received at the time the University
of Nebraska at Omaha was established. A record shall be kept separating such
money and funds into appropriate and convenient accounts. All money and funds
accruing to the cash fund shall be used for the maintenance
and operation of the University of Nebraska at Omaha and shall at all times
be subject to the orders of the Board of Regents. The fund shall be in the custody of the State Treasurer,
and any money in such 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, except that there may be retained
at the University of Nebraska at Omaha a sum not to exceed two percent of
the fund, which shall be available to make settlement and equitable adjustments
to students entitled thereto, to carry on university activities contributing
to the fund, and to provide for contingencies. No warrant shall
be issued against such fund unless there is money sufficient to pay the same.
There is hereby created a University of Nebraska at Omaha
Trust Fund which shall consist of all property, real or personal, now or hereafter
acquired by or for the municipal University of Omaha by donation or bequest
to it, which property shall be held and applied in the manner and according
with the provisions of the will, deed, or instrument making such donation
or bequest. All future donations or bequests to or for the University of Nebraska
at Omaha shall be a part of such trust fund. Such trust fund shall be held
and managed in such manner as the Board of Regents shall determine. Such holdings
and management shall be in strict accordance with all terms of the donation
or bequest, but in the absence of any investment instructions the funds may
be invested by or at the direction of the Board of Regents in such investments
as are authorized for trustees, guardians, personal representatives, or administrators
under the laws of Nebraska. Any money in such 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.

Nebraska § 85-192 (University of Nebraska at Omaha Cash Fund; University of Nebraska at Omaha Trust Fund; created; purposes; disbursements; investment) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: Laws 1967, c. 620, § 11, p. 2081; Laws 1969, c. 584, § 128, p. 2428; Laws 1985, LB 151, § 2; Laws 1988, LB 802, § 39; Laws 1995, LB 7, § 152; Laws 2011, LB378, § 33. Cross References: Nebraska Capital Expansion Act, see section 72-1269. Nebraska State Funds Investment Act, see section 72-1260.