85-1,115 Lied Center for Performing Arts; Board of Regents; powers. - Nebraska Statutes

85-1,115. Lied Center for Performing Arts; Board of Regents; powers.In order to accomplish the construction of the Lied Center for Performing Arts, the Board of Regents of the University of Nebraska may enter into contracts with any person, firm, corporation, or foundation providing for the implementation of such project of the university and providing for the long-term payment of the cost of such project. In no case shall any such contract run for a period longer than twenty years or exceed twenty million dollars, exclusive of administrative costs, credit enhancement costs, financing costs, and reserves dedicated to secure payment of contracts. The Board of Regents shall not pledge the credit of the State of Nebraska for the payment of any sum owing on account of such contract, except that there may be pledged for the payment of any such contract any appropriations specifically made by the Legislature for such purpose. No contract shall be entered into pursuant to this section without prior approval by a resolution of the Board of Regents. SourceLaws 1986, LB 842, § 7.