State Codes and Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter19 > 19-5101

19-5101. Investment of public endowment funds;manner.Pursuantto Article XI, section 1, of the Constitution of Nebraska, the Legislatureauthorizes the investment of public endowment funds by any city having a populationof more than five thousand inhabitants in the manner required of a prudentinvestor who shall act with care, skill, and diligence under the prevailingcircumstance and in such investments as the governing body of such city, actingin a fiduciary capacity for the exclusive purpose of protecting and benefitingsuch investment, may determine. SourceLaws 2009, LB402, § 3.