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LEGISLATURE OF NEBRASKA
ONE HUNDRED SIXTH LEGISLATURE
FIRST SESSION
LEGISLATIVE BILL 562
Introduced by Stinner, 48.
Read first time January 22, 2019
Committee: Appropriations
1 A BILL FOR AN ACT relating to appropriations; to state intent relating to
2 University of Nebraska facilities and appropriations.
3 Be it enacted by the people of the State of Nebraska,
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1 Section 1. University of Nebraska facilities, valued at four
2 billion dollars, represent more than seventy percent of the State of
3 Nebraska's building assets. Therefore, the State of Nebraska and the
4 university have a shared goal of protecting these assets and maintaining
5 them at a level which will attract and retain students and serve
6 Nebraskans effectively.
7 It is the intent of the Legislature that after the terms of any
8 long-term financing agreements have been met for the Nebraska College of
9 Technical Agriculture at Curtis Education Center, the annual $820,000
10 General Fund appropriation as contained in Laws 2017, LB 330, section 35,
11 be continued through 2050. The annual $820,000 General Fund appropriation
12 shall be used for renewal, renovations, or repair of existing university
13 facilities.
14 It is the intent of the Legislature that after the terms of any
15 long-term financing agreements have been met for the Veterinary
16 Diagnostic Center, the annual $2,165,928 General Fund appropriation as
17 contained in Laws 2017, LB 330, section 36, be continued through 2050.
18 The annual $2,165,928 General Fund appropriation shall be used for
19 renewal, renovations, or repair of existing university facilities.
20 It is the intent of the Legislature that after the terms of any
21 long-term financing agreements have been met for the College of Nursing
22 Building - Lincoln Division, the annual $1,477,000 General Fund
23 appropriation as contained in Laws 2017, LB 330, section 37, be continued
24 through 2050. The annual $1,477,000 General Fund appropriation shall be
25 used for renewal, renovations, or repair of existing university
26 facilities.
27 The Board of Regents of the University of Nebraska may enter into
28 long-term financing contracts with any person, firm, or corporation to
29 finance university facilities. The Board of Regents may also convey,
30 lease, or lease-back all or any part of the university facilities and the
31 land on which any such facility is situated to such person, firm, or
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1 corporation as the Board of Regents may contract with pursuant to this
2 section to facilitate the long-term payment of the cost of the
3 facilities. Any such conveyance or lease shall provide that when the cost
4 of the facility has been paid, together with interest and other costs
5 thereon, the facility and the land on which such facility is located
6 shall become the property of the Board of Regents. The Board of Regents
7 may schedule contractual payments on a monthly, quarterly, or semiannual
8 basis consistent with the state fiscal year.
9 Payment of the costs of the renewal, renovation, or repair of
10 existing university facilities for which the General Fund appropriations
11 described in this section are identified as a repayment source may occur
12 over a contract period not to extend beyond June 30, 2050. The Board of
13 Regents shall not pledge the credit of the State of Nebraska for any such
14 contract, except that there may be pledged for payment of any such
15 contract any appropriations made by the Legislature for such purpose.
16 The Legislature finds and determines that renewal, renovations, and
17 repair of university facilities is of critical importance to the State of
18 Nebraska. It is the intent of the Legislature that the appropriations
19 described in this section shall not be reduced until all contracts and
20 securities relating to the construction and financing of the facilities
21 are completed or paid but in no case shall such appropriations extend
22 beyond the fiscal year ending June 30, 2050.
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