2006 Nebraska Revised Statutes - § 58-320 — Authority; powers; enumerated.

Section 58-320
Authority; powers; enumerated.

The authority is hereby granted all powers necessary or appropriate to carry out and effectuate its public and corporate purposes, including, but not limited to, the following:

(1) To have perpetual succession as a body politic and corporate and an independent instrumentality exercising essential public functions;

(2) To adopt, promulgate, amend, and repeal bylaws, rules, and regulations, not inconsistent with the Small Business Development Authority Act, to regulate its affairs, to carry into effect the powers and purposes of the authority, and to conduct its business;

(3) To sue and be sued in its own name;

(4) To have an official seal and alter it at will;

(5) To maintain an office at such place or places within the state as it may designate;

(6) To make and execute contracts and all other instruments necessary or convenient for the performance of its duties and the exercise of its powers and functions under the Small Business Development Authority Act;

(7) To employ architects, engineers, attorneys, inspectors, accountants, building contractors, financial experts, and such other advisors, consultants, and agents as may be necessary in its judgment, to prescribe their duties, and to fix their compensation;

(8) To procure insurance against any loss in connection with its property and other assets in such amounts and from such insurers as it may deem advisable;

(9) To expend money and give guarantees out of its own resources to carry out the purposes of the Small Business Development Authority Act, except that the authority shall have no power at any time to pledge the full faith and credit or taxing power of the state or any of its political subdivisions, nor shall any of its obligations be deemed to be obligations of the state or any of its political subdivisions;

(10) To receive and accept from any source aid or contributions of money, property, labor, or other things of value to be held, used, and applied to carry out the purposes of the Small Business Development Authority Act subject to the conditions upon which the grants or contributions are made, including, but not limited to, gifts or grants from any department, agency, or instrumentality of the United States for any purpose consistent with the Small Business Development Authority Act;

(11) To enter into agreements with any department, agency, or instrumentality of the United States or this state or its political subdivisions and with private sector organizations for the purpose of carrying out projects authorized under the Small Business Development Authority Act;

(12) To sell and convey any real or personal property and make such order respecting the same as may be deemed conducive to the best interest of any authority;

(13) To invest any funds not needed for immediate disbursement, including any funds held in reserve, in direct or general obligations of or obligations fully and unconditionally guaranteed by the United States, obligations issued by agencies of the United States, any obligations of the United States or agencies thereof, obligations of this state, or any obligations or securities which may from time to time be legally purchased by governmental subdivisions of this state pursuant to subsection (1) of section 77-2341;

(14) To collect fees, charges, and interest the authority determines to be reasonable in connection with its technical assistance, subordinated loans, and equity investments;

(15) To cooperate with and exchange services, personnel, and information with any federal, state, or local governmental agency;

(16) To provide technical assistance to small businesses in Nebraska and persons wishing to establish a small business in the state, including the identifying and maintaining of sources of capital for small business equity financing; and

(17) To do any act necessary or convenient to the exercise of the powers granted by the Small Business Development Authority Act or reasonably implied from such act.

Source:

Laws 1984, LB 1117, § 20

Laws 1989, LB 221, § 4

~Reissue Revised Statutes of Nebraska