Nebraska Revised Statutes Chapter 81. State Administrative Departments § 81-12,194. Applicant; contracts authorized; powers

(1) In order to accomplish a project under the Nebraska Transformational Projects Act, an applicant may enter into contracts with any person, firm, or corporation providing for the implementation of any such project and providing for the long-term payment of the cost of such project.

(2) No applicant shall pledge the credit of the State of Nebraska for the payment of any sum owing on account of such contract, except that there may be pledged for the payment of any such contract any appropriation specifically made by the Legislature for such purpose, together with such funds of the applicant as the governing body of the applicant determines. An applicant may also convey, lease, or lease back all or any part of the project authorized by the Nebraska Transformational Projects Act and the land on which such project is situated to such person, firm, or corporation as the applicant may contract with pursuant to this section to facilitate the long-term payment of the cost of such project. Any such conveyance or lease shall provide that when the cost of such project has been paid, together with interest and other costs thereon, such project and the land on which such project is located shall become the property of the applicant.