Nebraska Statutes 70-507. Sale, lease, or transfer; statement and report; certification; filing
Such statement and report shall be certified and sworn to as correct by the presiding officer of the governing body of such municipality or public electric light and power district, as the case may be, and shall also have thereto attached the certificate and oath of the presiding officer, or other duly authorized executive officer of the purchaser, under the seal of the purchaser, if a corporation, that the purchaser of the utility has examined the statement and report, has investigated the facts therein set forth, believes the statement and report to be true and correct, and that the proposed purchase of the utility has been made with reference to and in reliance upon the facts, situation and circumstances set forth in the statement and report. The filing of the instruments, the statement and report, certified as herein required, is hereby made a condition precedent to the validity of any such sale, lease or transfer.
Terms Used In Nebraska Statutes 70-507
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
- Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
- Sworn: shall include affirmed in all cases in which an affirmation may be substituted for an oath. See Nebraska Statutes 49-801