Nebraska Statutes 79-1808. Project, defined
(1) Project means any property located within the state, constructed or acquired before, on, or after September 13, 1997, that may be used or will be useful in connection with the instruction, feeding, recreation, or housing of students, the conducting of research, administration, or other work of an elementary or secondary school, or any combination of the foregoing. Project includes, but is not limited to, an academic facility, administrative facility, assembly hall, athletic facility, auditorium, campus, communication facility, exhibition hall, housing for faculty and other staff, instructional facility, laboratory, library, maintenance facility, museum, offices, parking area, physical educational facility, recreational facility, research facility, stadium, storage facility, student facility, student health facility, student housing, theatre, or utility facility.
Terms Used In Nebraska Statutes 79-1808
- Amortization: Paying off a loan by regular installments.
- Authority: means the Nebraska Elementary and Secondary School Finance Authority created by the Nebraska Elementary and Secondary School Finance Authority Act or any board, body, commission, department, or office succeeding to the principal functions thereof or to whom the powers conferred upon such authority by the act are given by law. See Nebraska Statutes 79-1804
- Elementary or secondary school: means a not-for-profit educational institution located within this state which is not owned or controlled by the state or any political subdivision, agency, instrumentality, district, or municipality thereof, which is authorized by law to provide a program of education which:
(1) Is for any or all of the grades kindergarten through twelfth grade. See Nebraska Statutes 79-1807
- Project: means any property located within the state, constructed or acquired before, on, or after September 13, 1997, that may be used or will be useful in connection with the instruction, feeding, recreation, or housing of students, the conducting of research, administration, or other work of an elementary or secondary school, or any combination of the foregoing. See Nebraska Statutes 79-1808
- Project also means and: includes the refunding or refinancing of outstanding obligations, mortgages, or advances, including advances from an endowment or similar fund, originally issued, made, or given by such elementary or secondary school to finance the cost of a project or projects whenever the authority finds that such refunding or refinancing is in the public interest and either:
(a) Alleviates a financial hardship upon the elementary or secondary school. See Nebraska Statutes 79-1808
- Property: means the real estate upon which a project is or will be located, including equipment, machinery, and other similar items necessary or convenient for the operation of the project in the manner for which its use is intended, but not including such items as fuel, supplies, or other items that are customarily deemed to result in a current operation charge. See Nebraska Statutes 79-1809
- School: means a school under the jurisdiction of a school board authorized by Nebraska Statutes 79-101
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
(2) Project also means and includes the refunding or refinancing of outstanding obligations, mortgages, or advances, including advances from an endowment or similar fund, originally issued, made, or given by such elementary or secondary school to finance the cost of a project or projects whenever the authority finds that such refunding or refinancing is in the public interest and either:
(a) Alleviates a financial hardship upon the elementary or secondary school;
(b) Results in a lesser cost of education to its students; or
(c) Enables the elementary or secondary school to offer greater security for the financing of a new project or projects or to effect savings in interest costs or more favorable amortization terms.