Bob Flittie contributed this report.
FREMONT – With the Nebraska Legislature nearing the final days of the session, Brian Newton, Fremont City Administrator, discussed a couple measures of interest to the City.
One deals with allowing some communities to borrow from lending institutions (ie. banks) in the event of a disaster emergency:
LB870, introduced by Bellevue Sen. Sue Crawford, allows cities and villages to borrow directly from a financial institution to repair or rebuild property or restore public services damaged or disrupted by a natural disaster.
The bill limits direct borrowing to 20 percent of the annual budget of a second class city or village or 10 percent for a first, primary or metropolitan class city.
LB870 was approved on a 48-0 vote on July 21, and takes effect immediately.
The other one is the “Landbank Bill.”
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