85-1731 Authority; make loans; issue bonds; conditions. - Nebraska Statutes

85-1731. Authority; make loans; issue bonds; conditions.The authority may make loans to a private institution of higher education and refund or reimburse outstanding obligations, mortgages, or advances, including advances from an endowment or any similar fund, issued, made, or given by such private institution of higher education, whether before or after August 30, 1981, for the cost of a project, including the power to issue bonds and make loans to a private institution of higher education to refinance indebtedness incurred or to reimburse advances made for projects undertaken prior thereto whenever the authority finds that such financing is in the public interest, and either: (1) Alleviates a financial hardship upon the private institution of higher education, (2) results in a lesser cost of education, or (3) enables the private institution of higher education to offer greater security for a loan or loans to finance a new project or projects or to effect savings in interest costs or more favorable amortization terms. SourceLaws 1981, LB 321, § 31; R.S.1943, (1994), § 79-2931; Laws 1995, LB 5, § 31.