Nebraska Statutes 71-15,115. Housing agency; obligations; issuance and sale
(1) Obligations of a housing agency shall be authorized by a resolution adopted by a vote of a majority of the board of commissioners.
Terms Used In Nebraska Statutes 71-15,115
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
(2) The obligations of an agency, including bonds, notes, and other evidences of indebtedness, may be issued in one or more series and shall bear such dates, mature at such times, bear interest at such fixed or variable rate or rates, be in such denominations, be in such form, carry such conversion or registration privileges, have such rank or priority, be executed in such manner, be payable in such medium of payments and at such places, and be subject to such terms of redemption, with or without premium, as such resolution, its trust indenture, or mortgage may provide.
(3) The obligations of an agency, including bonds, notes, and other evidences of indebtedness, may be sold at public or private negotiated sale, without any public advertisement, at par, or at any discount or premium, as the resolution authorizing them provides. A housing agency issuing obligations may enter into such agreements and arrangements with third parties for the marketing of its obligations as it shall deem appropriate.