74-1420 Light-Density Rail Line Assistance Cash Fund; created; use; investment. - Nebraska Statutes

74-1420. Light-Density Rail Line Assistance Cash Fund; created; use; investment.(1) There is hereby created the Light-Density Rail Line Assistance Cash Fund which shall be used by the council to carry out its responsibilities under the Light-Density Rail Line Assistance Act. The fund may be used:(a) To defray the expenses of the council;(b) To purchase shares of stock or otherwise invest to facilitate light-density rail line acquisition or rehabilitation or improvement projects;(c) To purchase and enter into agreements for the operation of a light-density rail line; and(d) To carry out the purposes described in section 74-1415.01.(2) The State Treasurer shall credit to the fund any money (a) appropriated to the fund by the Legislature, (b) donated as gifts, bequests, grants, or other contributions to the fund from public or private sources, and (c) received pursuant to section 74-1415.01. Money made available by any department or agency of the United States may also be credited to the fund if so directed by the Director-State Engineer or may be credited to the revolving fund pursuant to section 74-1420.01. Any money in the Light-Density Rail Line Assistance Cash 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. SourceLaws 1980, LB 507, § 20; Laws 1991, LB 783, § 21; Laws 1994, LB 1066, § 76; Laws 1996, LB 463, § 26. Cross ReferencesNebraska Capital Expansion Act, see section 72-1269.Nebraska State Funds Investment Act, see section 72-1260.