Nebraska Statutes 79-1815. Authority; officers, members, and employees; surety bond requirements
Before the issuance of any bonds under the Nebraska Elementary and Secondary School Finance Authority Act, the chairperson, vice-chairperson, executive director, and assistant executive director, if any, and any other member of the authority authorized by resolution of the authority to handle funds or sign checks of the authority shall execute a surety bond in such amount as a majority of the members of the authority determine, or alternatively, the chairperson of the authority shall execute a blanket bond effecting such coverage. Each surety bond shall be conditioned upon the faithful performance of the duties of the office or offices covered and shall be executed by a surety company authorized to transact business in this state, and the cost of each such surety bond shall be paid by the authority.
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Terms Used In Nebraska Statutes 79-1815
- Authority: means the Nebraska Elementary and Secondary School Finance Authority created by the Nebraska Elementary and Secondary School Finance Authority Act or any board, body, commission, department, or office succeeding to the principal functions thereof or to whom the powers conferred upon such authority by the act are given by law. See Nebraska Statutes 79-1804
- Bonds: means bonds, notes, or other obligations of the authority issued under the Nebraska Elementary and Secondary School Finance Authority Act, including refunding bonds, notwithstanding that the same may be secured by the full faith and credit of an elementary or secondary school or any other lawfully pledged security of an elementary or secondary school. See Nebraska Statutes 79-1805
- Company: shall include any corporation, partnership, limited liability company, joint-stock company, joint venture, or association. See Nebraska Statutes 49-801
- School: means a school under the jurisdiction of a school board authorized by Chapter 79. See Nebraska Statutes 79-101
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801