State Codes and Statutes

Statutes > Nebraska > Chapter10 > 10-1203

10-1203. Terms, defined.For purposes of the Nebraska GovernmentalUnit Credit Facility Act:(1) Authorizing statutemeans any statute which authorizes the issuance of bonds by a governmentalunit;(2)Bank means any federally chartered or state-chartered bank, savings and loanassociation, building and loan association, insurance company, or any otherpublic or private agency which insures or guarantees the indebtedness of otherpersons or governmental units;(3) Bond means any bond, note, interim certificate,evidence of bond ownership, bond anticipation note, warrant, or other evidenceof indebtedness issued under any authorizing statute;(4) Credit facility means any agreementor other instrument providing for a guarantee or other contractual arrangementproviding direct or indirect assurance for payment of principal or interestor both principal and interest on any bond issued by a governmental unit,including, but not limited to, any letter of credit, contract of guarantee,contract of insurance, standby purchase contract, or any other contract forpurchase or other agreement as to assurance of payment;(5) Governmental unitmeans any county, school district, city, village, public power district, publicpower and irrigation district, sanitary and improvement district, educationalservice unit, community college area, natural resources district, airportauthority, fire protection district, hospital district, hospital authority,housing authority, joint entity created under the Interlocal Cooperation Act,joint public agency created under the Joint Public Agency Act, instrumentality,or any other district, authority, or political subdivision of the State ofNebraska;(6)Measure means any ordinance, resolution, or other enactment by a governmentalunit, or any amendment or supplement to any such ordinance, resolution, orother enactment authorizing the issuance of bonds or authorizing an indenturewith respect to bonds pursuant to an authorizing statute;(7) Terms and conditionsmeans the terms and conditions of a credit facility, which may include, butare not limited to, (a) representations and warranties; (b) payment of feesand expenses; (c) reimbursement of amounts advanced and payment of intereston amounts advanced; (d) holding harmless for additional taxes or increasedcosts payable by the credit facility provider; (e) remarketing or resale ofpurchased bonds; (f) indemnification for liabilities incurred by a creditfacility provider; (g) affirmative and negative covenants relating to bondsfor which assurance is provided; (h) provisions relating to defaults and remediesupon default; and (i) such other provisions as may be determined by the governingbody of a governmental unit to be either customary or appropriate in obtaininga credit facility; and(8)United States governmental enterprise means any agency or instrumentalityof the United States Government. For all purposes of the Nebraska GovernmentalUnit Credit Facility Act, the term United States governmental enterprise shallbe conclusively construed as including, but not limited to, any of the FederalHome Loan Banks, the Federal National Mortgage Association, and the FederalHome Loan Mortgage Corporation. SourceLaws 2009, LB377, § 3. Cross ReferencesInterlocal Cooperation Act, see section 13-801.Joint Public Agency Act, see section 13-2501.