The Master Lease Program Trust Fund is created. The fund shall consist of lease payments made by state agencies and shall be used to pay any lessor who is a party to any financing agreement sponsored by the Department of Administrative Services. The fund shall be administered by the Accounting Administrator. Any money in the fund available for investment shall be invested by the state investment officer pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act. On a monthly basis the accounting division of the Department of Administrative Services shall administratively transfer all interest earnings credited to the fund to the Accounting Division Revolving Fund within ten days after the end of each month.

Terms Used In Nebraska Statutes 81-1108.03

  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Month: shall mean calendar month. See Nebraska Statutes 49-801
  • 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