§ 85-408 — Dormitories; housing facilities; other facilities; rates, fees, or charges; pledge for payment of bonds; surplus; approval by Legislature

The boards are authorized and directed
to establish and maintain such schedule of rates, fees, or charges for the
use of the facilities afforded by the buildings constructed or acquired under
sections 85-401 to 85-411 and other facilities controlled by such board, the
revenue of which in whole or in part is pledged to the holder of the bonds,
which shall be in an amount at least sufficient on the amortization plan to
pay the operating and maintenance charges thereof and the principal and interest
representing the indebtedness against the income and revenue therefrom and
may be sufficient in amount to provide for such bond reserve, replacement,
and surplus funds as the boards in their discretion shall determine. The amounts
in such funds shall be expended for such purposes in connection with the facilities
as the boards shall determine, and any amount in any surplus or replacement
fund and any amounts received through the sale, condemnation, or destruction
of any facilities may be used to construct, repair, or replace any of the
types of facilities described in section 85-403 . Any amounts in such funds
are specifically appropriated to the purposes of such funds and shall at all
times be subject to the orders of the boards accordingly.
Before any single expenditure in excess of five hundred thousand
dollars is made from any such surplus or replacement fund, the board concerned
shall first submit such proposed expenditure to and secure the approval or disapproval of the Legislature
or, if the Legislature is not in session, of the Executive Board of the Legislative
Council.

Legislative History

Source: Laws 1955, c. 352, § 6, p. 1077; Laws 1969, c. 853, § 1, p. 3208; Laws 1986, LB 912, § 2; Laws 1991, LB 663, § 88; Laws 1994, LB 683, § 6; Laws 1999, LB 816, § 1; Laws 2006, LB 196, § 1; Laws 2014, LB546, § 2.