85-1415 Capital construction projects proposed by Board of Regents of the University of Nebraska, Board of Trustees of the Nebraska State Colleges, and certain nonprofit corporations; review; commissi - Nebraska Statutes

85-1415. Capital construction projects proposed by Board of Regents of the University of Nebraska, Board of Trustees of the Nebraska State Colleges, and certain nonprofit corporations; review; commission; duties; approval by Legislature.(1) Consistent with the authority granted to the Legislature pursuant to Article XIII, section 1, of the Constitution of Nebraska, the commission shall review all capital construction projects proposed by the Board of Regents of the University of Nebraska and the Board of Trustees of the Nebraska State Colleges pursuant to sections 85-404 and 85-408 and by any nonprofit corporation created by the Board of Regents of the University of Nebraska or the Board of Trustees of the Nebraska State Colleges when (a) state general funds, (b) funds received by the University of Nebraska or any state college for the purposes of reimbursing overhead costs and expenses in connection with any federal or other grant or contract, (c) tuition, or (d) the state's operating investment pool investment income constitute all or any part of the funds used for the repayment of all or any part of the bonds of such nonprofit corporation. Such boards shall submit all such projects, including applicable financing plans, to the commission for review.(2) Within sixty days from the date of submission of a proposed project, the commission shall take action by recommending that the Legislature or the Executive Board of the Legislative Council either approve or disapprove the project. Following such action by the commission, each such proposed project together with the commission's recommendation of approval or disapproval shall be submitted by the board concerned to the Legislature or to the Executive Board of the Legislative Council. The Legislature or, if the Legislature is not in session, the Executive Board of the Legislative Council shall thereafter take action to approve or disapprove the proposed project. SourceLaws 1991, LB 663, § 18; Laws 1992, LB 976, § 1; Laws 1994, LB 683, § 21; Laws 2004, LB 1071, § 1.