2012 Nebraska Revised Statutes
Chapter 85 - STATE UNIVERSITY, STATE COLLEGES, AND POSTSECONDARY EDUCATION
85-1708 - Project, defined.

85-1708. Project, defined.

(1) Project shall mean any property located within the state, constructed or acquired before or after August 30, 1981, that may be used or will be useful in connection with the instruction, feeding, recreation, or housing of students, the conducting of research, administration, or other work of a private institution of higher education, or any combination of the foregoing. Project shall include, but not be limited to, an academic facility, administrative facility, agricultural facility, assembly hall, athletic facility, auditorium, campus, communication facility, exhibition hall, housing for faculty and other staff, instructional facility, laboratory, library, maintenance facility, museum, offices, parking area, physical educational facility, recreational facility, research facility, stadium, storage facility, student facility, student health facility, student housing, student union, theatre, or utility facility.

(2) Project shall also mean and include the refunding or refinancing of outstanding obligations, mortgages, or advances, including advances from an endowment or similar fund, originally issued, made, or given by such private institution of higher education to finance the cost of a project or projects whenever the authority finds that such refunding or refinancing is in the public interest and either:

(a) Alleviates a financial hardship upon the private institution of higher education;

(b) Results in a lesser cost of education to its students; or

(c) Enables the private institution of higher education to offer greater security for the financing of a new project or projects or to effect savings in interest costs or more favorable amortization terms.