85-1,128 University of Nebraska Eppley Science Hall Construction Fund; created; use; investment. - Nebraska Statutes

85-1,128. University of Nebraska Eppley Science Hall Construction Fund; created; use; investment.There is hereby created the University of Nebraska Eppley Science Hall Construction Fund. All money accruing to the fund is hereby appropriated to the Board of Regents of the University of Nebraska and shall be used exclusively for the project authorized pursuant to this section. No expenditures shall be made from such fund without prior approval by a resolution of the Board of Regents. Any money in the 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.The Board of Regents may make expenditures from the University of Nebraska Eppley Science Hall Construction Fund for the following project:University of Nebraska Eppley Science Hall construction project, four hundred seventy-five thousand dollars, excluding federal funds, institutional cash funds, and private donations. The total cost of the project is currently estimated at eight million seven hundred forty thousand dollars, which amount also includes five million dollars of federal funds and two million dollars of private donations. Any unexpended balance existing in the University of Nebraska Eppley Science Hall Construction Fund shall be transferred to the General Fund either on June 15, 1993, or when any financial obligations incurred in the contracts entered into by the Board of Regents for the completion of the University of Nebraska Eppley Science Hall construction project are discharged, whichever occurs first. SourceLaws 1990, LB 1220, § 3; Laws 1994, LB 1066, § 136. Cross ReferencesNebraska Capital Expansion Act, see section 72-1269.Nebraska State Funds Investment Act, see section 72-1260.