2006 Nebraska Revised Statutes - § 79-1177 — Board; devises, donations, or bequests; accept; administer.

Section 79-1177
Board; devises, donations, or bequests; accept; administer.

The board shall accept, on behalf of the Diagnostic Resource Center at Cozad, devises of real property or donations or bequests of other property, or both, if in its judgment any such devise, donation, or bequest is for the best interest of the center, its students, or both. The board shall, upon acceptance of any devise, donation, or bequest as provided in this section, administer and carry out any devise, donation, or bequest in accordance with its terms and conditions. If not prohibited by the terms and conditions of any devise, donation, or bequest, the board may sell, convey, exchange, or lease such property as it deems best and remit all money derived from any such sale or lease to the State Treasurer for credit to the State Department of Education Trust Fund. However, lease agreements should give priority first to state agencies and second to regional or local agencies. In the case of lease agreements with regional or local agencies, such lease agreements shall not exceed a period of one year.

Source:

Laws 1978, LB 871, § 26

R.S.1943, (1984), § 43-679

Laws 1987, LB 367, § 64

R.S.1943, (1994), § 79-3364

Laws 1996, LB 900, § 859

~Reissue Revised Statutes of Nebraska