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(A) When the City Treasurer holds funds of the city in excess of the amount required for maintenance or set aside for betterments and improvements, the Mayor and City Council may, by resolution, direct and authorize the Treasurer to invest the surplus funds in the outstanding bonds or registered warrants of the city, bonds and debentures issued either singly or collectively by any of the 12 federal land banks, the 12 intermediate credit banks, or the 13 banks for cooperatives under the supervision of the Farm Credit Administration, or in interest-bearing bonds or the obligations of the United States. The interest on such bonds or warrants shall be credited to the fund out of which the bonds or warrants were purchased.
(Neb. RS 17-608)
(B) All income received by the city from public utilities and from the payment and collection of water taxes, rents, rates, or assessments shall be applied to the payment of running expenses, interest on bonds or money borrowed, and the erection and construction of public utilities; should there be any surplus, it shall be annually created into a sinking fund for the payment of public utility bonds or for the improvements of the works, or into the General Fund as the City Council may direct. The surplus remaining, if any, may, if the City Council, be invested in interest-bearing bonds or obligations of the United States.
(Neb. RS 17-540)
(C) The Mayor and City Council may, by resolution, direct and authorize the Treasurer to dispose of the surplus electric light, water, or gas funds, or the funds arising from the sale of electric light, water, or natural gas distribution properties, by the payment of outstanding electric light, water, or gas distribution bonds or water warrants then due. The excess, if any, after such payments, may be transferred to the General Fund of the city.
(Neb. RS 17-609)
(D) Any surplus funds arising out of the operation of any system of waterworks, power plant, ice plant, gas plant, sewerage, heating or lighting plant, or distribution system by the Board of Public Works, or by the City Council, where any of such utilities are not being operated by such a Board, may be invested, if not invested pursuant to the provisions of any other law upon the subject, in like manner and subject to the same conditions as the investment of similar funds of cities of the first class, as provided in Neb. RS 16-691.01.
(Neb. RS 17-803)
(E) (1) Whenever the city has accumulated a surplus of any fund in excess of its current needs or has accumulated a sinking fund for the payment of its bonds and the money in such sinking fund exceeds the amount necessary to pay the principal and interest of any such bonds which become due during the current year, the City Council may invest any such surplus in excess of current needs or such excess in its sinking fund in certificates of deposit, in time deposits, and in any securities in which the State Investment Officer is authorized to invest pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act and as provided in the authorized investment guidelines of the Nebraska Investment Council in effect on the date the investment is made. The State Investment Officer shall upon request furnish a copy of current authorized investment guidelines of the Nebraska Investment Council.
(2) Nothing in division (E)(1) above shall be construed to authorize investments in venture capital.
(Neb. RS 77-2341)
The City Council may, after meeting all the requirements of state law, issue bonds, fund bonds, and retire bonds for such purposes as may be permitted by state law. The City Council shall have the authority to levy special assessments for the payment of interest and principal on these bonds and may spread the payments up to the maximum number of years permitted by state law.
Statutory reference:
Bonds in general, see Neb. RS 18-1801 through 18-1805
Funding and refunding bonds, see Neb. RS 10-606 through 10-612
General provisions, see Neb. RS 10-101 through 10-143
(A) The city may contract to retain a collection agency licensed pursuant to the Collection Agency Act, within or without this state, for the purpose of collecting public debts owed by any person to the city.
(B) No debt owed pursuant to division (A) above may be assigned to a collection agency unless:
(1) There has been an attempt to advise the debtor by first-class mail, postage prepaid, at the last known address of the debtor:
(a) Of the existence of the debt; and
(b) That the debt may be assigned to a collection agency for collection if the debt is not paid.
(2) At least 30 days have elapsed from the time the notice was sent.
(C) A collection agency which is assigned a debt under this section shall have only those remedies and powers which would be available to it as an assignee of a private creditor.
(D) For purposes of this section, debt shall include all delinquent fees or payments except delinquent property taxes on real estate. In the case of debt arising as a result of an order or judgment of a court in a criminal or traffic matter, a collection fee may be added to the debt. The collection fee shall be $25 or 4.5% of the debt, whichever is greater. The collection fee shall be paid by the person who owes the debt directly to the person or agency providing the collection service.
(Neb. RS 45-623)
(A) If authorized by the City Council, any city official may accept credit cards, charge cards, or debit cards, whether presented in person or electronically, or electronic funds transfers as a method of cash payment of any tax, levy, excise, duty, custom, toll, interest, penalty, fine, license, fee, or assessment of whatever kind or nature, whether general or special, as provided by Neb. RS 77-1702.
(B) The total amount of the taxes, levies, excises, duties, customs, tolls, interest, penalties, fines, licenses, fees, or assessments of whatever kind or nature, whether general or special, paid for by credit card, charge card, debit card, or electronic funds transfer shall be collected by the city official.
(C) With respect to a facility which it operates in a proprietary capacity, the City Council may choose to accept credit cards, charge cards, or debit cards, whether presented in person or electronically, or electronic funds transfers as a means of cash payment and may adjust the price for services to reflect the handling and payment costs.
(D) The city official shall obtain, for each transaction, authorization for use of any credit card, charge card, or debit card used pursuant to this section from the financial institution, vending service company, credit card or charge card company, or third-party merchant bank providing that service.
(E) The types of credit cards, charge cards, or debit cards accepted and the payment services provided shall be determined by the State Treasurer and the Director of Administrative Services with the advice of a committee convened by the State Treasurer and the director. The committee shall consist of the State Treasurer, the Tax Commissioner, the director, and representatives from counties, cities, and other political subdivisions as may be appropriate. The committee shall develop recommendations for the contracting of such services. The State Treasurer and the director shall contract with one or more credit card, charge card, or debit card companies or third-party merchant banks for services on behalf of the state and those counties, cities, and political subdivisions that choose to participate in the state contract for such services. The State Treasurer and the director shall consider, for purposes of this section, any negotiated discount, processing, or transaction fee imposed by a credit card, charge card, or debit card company or third-party merchant bank as an administrative expense. If the City Council chooses not to participate in the state contract, it may choose types of credit cards, charge cards, and debit cards and may negotiate and contract independently or collectively as a governmental entity with one or more financial institutions, vending service companies, credit card, charge card, or debit card companies, or third-party merchant banks for the provision of these services.
(F) Subject to the direction of the City Council, a city official authorizing acceptance of credit card or charge card payments shall be authorized but not required to impose a surcharge or convenience fee upon the person making a payment by credit card or charge card so as to wholly or partially offset the amount of any discount or administrative fees charged to the city, but the surcharge or convenience fee shall not exceed the surcharge or convenience fee imposed by the credit card or charge card companies or third-party merchant banks which have contracted under division (E) above. The surcharge or convenience fee shall be applied only when allowed by the operating rules and regulations of the credit card or charge card involved or when authorized in writing by the credit card or charge card company involved. When a person elects to make a payment to the city by credit card or charge card and such a surcharge or convenience fee is imposed, the payment of the surcharge or convenience fee shall be deemed voluntary by that person and shall be in no case refundable. If a payment is made electronically by credit card, charge card, debit card, or electronic funds transfer as part of a system for providing or retrieving information electronically, the city official shall be authorized but not required to impose an additional surcharge or convenience fee upon the person making a payment.
(G) For the purpose of this section, the following definition shall apply unless the context clearly indicates or requires a different meaning.
ELECTRONIC FUNDS TRANSFER. The movement of funds by nonpaper means, usually through a payment system, including, but not limited to, an automated clearinghouse or the Federal Reserve’s Fedwire system.
(Neb. RS 13-609)
The city shall impose a charge of $10 to be assessed against any entity or individual issuing a check payable to the city, through any department or representative, that is returned by the drawee bank for the reason that the account does not exist or the account has insufficient funds to satisfy the amount of the checks.
(Ord. 593, passed 8-4-1998)
(A) Purpose. To establish a uniform capitalization policy for fixed assets that complies with generally accepted accounting principles.
(B) Scope. This policy applies to all departments of the city now in existence or established in future.
(C) Policy.
(1) (a) The city will capitalize all fixed assets with a purchase price greater than $5,000 and a normal useful life of more than one year.
(b) Depreciation will be provided over the estimated useful life of each item using the straight-line method. The estimated useful lives are as follows:
1. Buildings: 20 to 50 years;
2. Systems equipment: 20 to 50 years; and
3. Vehicles, tools, and equipment: five to ten years.
(2) Fixed asset.
(a) A fixed asset is any tangible asset purchased for use in the day-to-day operation of the city from which an economic benefit will be derived over a period greater than one year and has a value of $5,000 or more. Fixed assets include items of property and equipment such as buildings, office furniture, fixtures, and computers.
(b) Bulk purchases of similar items that have an aggregate value of $10,000 or more are also captured as a fixed asset, regardless of individual price of item. Items that are routinely purchased as a set and have a total value of $5,000 or more will be capitalized and depreciated.
(c) Fixed assets with a value of less than $5,000 are expensed in the period acquired.
(3) Building improvements and renovations.
(a) Major improvement projects that will extend the useful life of the asset beyond one year, increase the efficiency, or add new capabilities will be capitalized. All costs including parts and labor will be included in the total cost of the project.
(b) Parts and labor utilized to perform minor repairs on an existing asset of the city are routine maintenance and expensed in the period incurred.
(4) Land. LAND is defined as the actual land cost which does not depreciate over time. The acquired value is recorded for the cost of the land.
(5) Land improvements. Land improvements are modifications to outside areas such as sidewalks, parking lots, fences, and lighting.
(6) Infrastructure. Public domain general fixed assets consisting of certain improvements, other than buildings, including roads, bridges, curbs and gutters, streets and sidewalks, drainage systems, and lighting systems are immovable and of value only to the city.
(7) Disposal of fixed asset. The gain or loss on the sale or disposal of fixed assets is recorded by removing the cost and accumulated depreciation from fixed assets and applying the sales proceeds.
(D) Valuation of assets.
(1) Purchased assets. The value of the asset is determined by including the purchase price of the item, transportation costs, installation costs, and any other direct expenses incurred by the city in obtaining the asset. Subsequent items purchased, which fall under the $5,000 threshold, are expensed immediately and not capitalized.
(2) Donated assets. The value recorded by the city for a donated asset is market value on the date the gift was acquired. To determine the market value of the asset, the city may use the appraisal price, selling price to municipalities of an equivalent item, and/or information from the state’s Department of Administrative Services.
(3) Leased assets. The lessee records a capital lease as an asset and a corresponding liability. The initial recording value of the leased asset is fair value, excluding any costs such as interest.
(4) New construction and capital projects. When the city constructs a depreciable asset for its own use, all direct costs are included in the total cost of the asset. This includes, but is not limited to, items such as architectural, engineering, legal, consulting, and project managements from outside sources.
(Res. 2021-06, passed 4-7-2021)
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