Judges: WRITTEN BY: Don Stenberg, Attorney General Harold I. Mosher, Senior Assistant Attorney General
Filed Date: 3/5/1993
Status: Precedential
Modified Date: 7/5/2016
REQUESTED BY: Senator Kurt A. Hohenstein Nebraska State Legislature Presented
As used in the Coordinating Commission for Postsecondary Education Act, do the words "tax funds" include funds which are pledged to pay the principal and interest on revenue bonds issued pursuant to Neb. Rev. Stat. §
Subject to certain conditions, the Board of Regents of the University of Nebraska and the Board of Trustees of the Nebraska State Colleges have statutory authority to issue revenue bonds and to repay the principal and the interest thereon solely out of sources other than funds derived from taxation. Neb. Rev. Stat. §
Bonds issued under the provisions of sections
85-403 to85-411 are not an obligation of the State of Nebraska, and no tax shall ever be levied to raise funds for the payment thereof or interest thereon. The bonds shall not constitute a debt of the board issuing the same and shall be paid solely out of money derived from their revenue and earnings as provided in sections85-403 to85-411 . * * *.
Certain terms, as used in the Coordinating Commission for Postsecondary Education Act, are defined by statute. Neb. Rev. Stat. §
We wish to point out that the Coordinating Commission for Postsecondary Education has certain duties with respect to particular capital construction projects, including those funded by revenue bonds. Specifically, it has a duty to "review and approve or disapprove 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 Neb. Rev. Stat. §
Respectfully submitted,
DON STENBERG Attorney General
Harold I. Mosher Senior Assistant Attorney General
APPROVED: ______________________________ Attorney General 20-02-14
cc: Patrick J. O'Donnell Clerk of the Legislature