58-242. Authority; agricultural projects; duties.
Prior to exercising any of the powers authorized by the Nebraska Investment Finance Authority Act regarding agricultural projects as defined in subdivision (2) of section 58-219, the authority shall require:
(1) That no loan will be made to any person with a net worth of more than five hundred thousand dollars;
(2) That the lender certify and agree that it will use the proceeds of such loan, investment, sale, or assignment within a reasonable period of time to make loans or purchase loans to provide agricultural enterprises or, if such lender has made a commitment to make loans to provide agricultural enterprises on the basis of a commitment from the authority to purchase such loans, such lender will make such loans and sell the same to the authority within a reasonable period of time;
(3) That the lender certify that the borrower is an individual who is actively engaged in or who will become actively engaged in an agricultural enterprise after he or she receives the loan or that the borrower is a firm, partnership, limited liability company, corporation, or other entity with all owners, partners, members, or stockholders thereof being natural persons who are actively engaged in or who will be actively engaged in an agricultural enterprise after the loan is received;
(4) That the aggregate amount of the loan received by a borrower shall not exceed five hundred seventeen thousand seven hundred dollars, as such amount shall be adjusted for inflation in accordance with section 147(c) of the Internal Revenue Code of 1986, as amended. In computing such amount a loan received by an individual shall be aggregated with those loans received by his or her spouse and minor children and a loan received by a firm, partnership, limited liability company, or corporation shall be aggregated with those loans received by each owner, partner, member, or stockholder thereof; and
(5) That the recipient of the loan be identified in the minutes of the authority prior to or at the time of adoption by the authority of the resolution authorizing the issuance of the bonds which will provide for financing of the loan.
Source
Structure Nebraska Revised Statutes
Chapter 58 - Money and Financing
58-101 - Money; denominations; public payments.
58-102 - Money; demand expressed in another denomination; effect.
58-202 - Cost and availability of financing; legislative findings and declarations.
58-203 - Authority; purpose for creation.
58-204 - Finance and development entities; legislative findings.
58-205 - Consolidation of various finance and development entities; legislative findings.
58-207 - Definitions, where found.
58-207.01 - Abatement, defined.
58-207.02 - Accessibility barrier, defined.
58-207.03 - Accessibility barrier elimination, defined.
58-208 - Agriculture or agricultural enterprise, defined.
58-209.01 - Blighted area, defined.
58-210.01 - Environmental hazard, defined.
58-210.02 - Economic-impact project, defined.
58-211 - Financing agreement, defined.
58-211.01 - First-time homebuyer, defined.
58-212 - Hospital or nursing home, defined.
58-216 - Low-income or moderate-income person, defined.
58-216.01 - Microenterprise, defined.
58-218 - Mortgage loan, defined.
58-219.01 - Public agency, defined.
58-220 - Rental housing, defined.
58-221 - Residential energy conservation device, defined.
58-222 - Residential housing, defined.
58-223 - Residential energy conservation loan program, defined.
58-226 - Nebraska Investment Finance Authority; created; members; qualifications.
58-227 - Authority; public members; terms; vacancies; removal.
58-228 - Authority; chairperson; officers; expenses.
58-229 - Authority; quorum; vacancy; effect.
58-230 - Meetings; when held; virtual conferencing authorized.
58-231 - Executive director; powers and duties.
58-232 - Executive director; meetings; records; duties.
58-234 - Authority; personnel.
58-235 - Authority; member or employee; conflict of interest; disclosure.
58-236 - Officer or employee of state; membership on or service to authority; how treated.
58-237 - Authority; members; executive director; surety bond.
58-238 - Authority; members; liability.
58-239 - Authority; powers; enumerated.
58-239.01 - Authority; microenterprises; powers and duties.
58-239.02 - Authority; wastewater treatment and safe drinking water projects; powers and duties.
58-239.03 - Authority; public safety communication projects; powers.
58-239.04 - Authority; economic-impact projects; powers and duties.
58-240 - Authority; duties; enumerated.
58-241 - Authority; coordinate activities with state.
58-242 - Authority; agricultural projects; duties.
58-243 - Authority; agricultural projects; powers.
58-244 - Authority; agricultural projects; adopt rules and regulations.
58-245 - Agricultural projects; loan; reports required; contents.
58-246 - Agricultural projects; loan reports; public information; borrower's name omitted.
58-247 - Authority; housing projects; powers.
58-248 - Authority; housing projects; adopt rules and regulations.
58-249 - Authority; low-income housing loans; establish funds.
58-250 - Authority; development projects; adopt rules and regulations.
58-251 - Authority; development project; make specific findings.
58-252 - Authority; borrow money and issue bonds; purposes.
58-253 - Authority; issue bonds to renew, pay, or refund bonds.
58-254 - Authority; bond issuance; general obligation; how paid and secured.
58-255 - Authority; bond issuance; state; no obligation; statement.
58-256 - Bond resolution; contents; sale; manner; declaratory judgment.
58-257 - Bond resolution; provisions enumerated.
58-258 - Authority; pledge; effect; lien; recording; not required.
58-259 - Authority; purchase bonds of authority; canceled; price.
58-260 - Bonds; secured by trust indenture; contents; expenses; how treated.
58-261 - Bonds; negotiable instruments.
58-262 - Bonds; signatures of prior members or officers; validity.
58-263 - Authority; establish funds.
58-264 - Authority; money; deposits; secured; expenditures.
58-265 - Authority; bondholders; contract; purposes; money; how secured.
58-266 - Bondholders; pledge; agreement of the state.
58-267 - Authority; expenses; how paid; liability of state or political subdivision; prohibited.
58-269 - Bonds; legal investments; for whom; considered securities.
58-270 - Authority; reports; contents; audit; issuance of bonds; notices.
58-502 - Legislative findings.
58-504 - Designated blighted and substandard area; application; hearing; approval.
58-505 - Redevelopment project; application; hearing; approval.
58-507 - Property taxes; how divided.
58-508 - Redevelopment project valuation; county assessor; duties.
58-509 - Property taxes; how treated.
58-510 - Pledge of taxes; authorized.
58-511 - Penal bond; required.
58-512 - Powers supplemental; act, how construed.
58-513 - Contracting public body; powers.
58-515 - Bonds; liability; how paid; notes.
58-518 - Bonds; signatures; negotiability.
58-519 - Bonds; presumption of validity.
58-520 - Bonds; leases; contracting public body; powers.
58-521 - Default; contracting public body; powers.
58-523 - Bonds; authorized investment.
58-524 - Bond validation proceeding; appeal.
58-525 - Bonds or certificates; validation.
58-526 - Public body or taxing body; supplemental powers.
58-527 - Sale, conveyance, lease, or agreement; how made.
58-528 - Contracting public body; estimate of expenses; appropriations; bonds authorized.
58-529 - School districts; additional expenses; appropriations.
58-530 - Presumption of compliance.
58-533 - Filing of applications; limitation.
58-612 - Standard of conduct in managing and investing institutional fund.
58-613 - Appropriation for expenditure or accumulation of endowment fund; rules of construction.
58-614 - Delegation of management and investment functions.
58-615 - Release or modification of restrictions on management, investment, or purpose.
58-616 - Reviewing compliance.
58-617 - Application to existing institutional funds.
58-618 - Relation to Electronic Signatures in Global and National Commerce Act.
58-619 - Uniformity of application and construction.
58-702 - Legislative findings.
58-703 - Affordable Housing Trust Fund; created; use.
58-704 - Housing advisory committee; created; members; duties; meetings.
58-705 - Department of Economic Development; Affordable Housing Trust Fund; duties.
58-706 - Affordable Housing Trust Fund; eligible activities.
58-707 - Assistance; qualified recipients.
58-709 - Rules and regulations.
58-711 - Information on status of Affordable Housing Trust Fund; report; contents.
58-802 - Legislative findings.
58-803 - Definitions, where found.
58-807 - Eligible institution, defined.
58-807.01 - Private cultural institution, defined.
58-808 - Private health care institution, defined.
58-809 - Private institution of higher education, defined.
58-810 - Private social services institution, defined.
58-813 - Nebraska Educational, Health, Cultural, and Social Services Finance Authority; created.
58-814 - Authority; members; qualifications; appointment; terms; removal.
58-815 - Authority; officers; executive director; compensation; receive contributions.
58-816 - Authority; keep records and accounts; seal; certified copies.
58-817 - Authority; quorum; actions; vacancy; effect; meetings.
58-818 - Authority; officers, members, and employees; surety bond requirements.
58-819 - Authority; members; expenses.
58-820 - Authority member or employee; conflict of interest; abstention.
58-822 - Authority; perpetual succession; bylaws.
58-823 - Authority; adopt seal.
58-824 - Authority; office; location.
58-825 - Authority; sue and be sued.
58-826 - Authority; powers over project.
58-827 - Authority; issuance of bonds authorized.
58-828 - Authority; charge for services.
58-829 - Authority; rules and regulations for use of project; designate agent.
58-830 - Authority; personnel.
58-831 - Authority; receive loans, grants, and contributions.
58-832 - Authority; mortgage of certain property.
58-833 - Authority; loans authorized; limitation.
58-834 - Authority; issue bonds; make loans; conditions.
58-835 - Authority; administrative costs; apportionment.
58-836 - Authority; general powers; joint projects.
58-837 - Authority; combine and substitute projects; bonds; additional series.
58-838 - Expenses; how paid; liability; limitation.
58-839 - Authority; acquisition of property.
58-840 - Authority; financing obligations completed; convey title to eligible institution.
58-842 - Bond issuance; resolution; provisions enumerated.
58-843 - Bonds; secured by trust indenture; contents; expenses; how treated.
58-844 - Bonds issued to purchase securities of eligible institution; provisions applicable.
58-845 - Bonds issued to acquire federally guaranteed securities; provisions applicable.
58-846 - Refunding bonds; issuance authorized; provisions applicable.
58-847 - Bond issuance; state or political subdivision; no obligation; statement; expenses.
58-848 - Authority; rents or loan payments; use.
58-849 - Money received by authority; deemed trust funds; investment.
58-850 - Bondholders and trustee; enforcement of rights.
58-852 - Authority; journal; public records.
58-853 - Authority; public purpose; exemptions from taxation.
58-854 - Bondholders; pledge; agreement of the state.
58-855 - Act; supplemental to other laws.
58-856 - Act; provisions controlling.
58-857 - Nebraska Health Education Assistance Loan Program; established.
58-858 - Nebraska Health Education Assistance Loan Program; authority; powers.
58-859 - Nebraska Health Education Assistance Loan Program; loans; how funded.
58-860 - Nebraska Health Education Assistance Loan Program; bonds or other obligations; how paid.
58-861 - Nebraska Health Education Assistance Loan Program; bonds; security.
58-862 - Nebraska Health Education Loan Repayment Fund; created; use.
58-863 - Nebraska Student Loan Assistance Program; established.
58-864 - Nebraska Student Loan Assistance Program; authority; powers.
58-865 - Nebraska Student Loan Assistance Program; loans; how funded.