72-240.02. School lands; new leases; board; powers.If no such application for a new lease is received or if the applicant fails to meet the requirements for a new lease, the Board of Educational Lands and Funds may, at any time within three months after the expiration of the lease, enter into a lease with any other person it deems willing and able to meet the standards prescribed by the board in its rules and regulations at the rental rate for land of such classification.Source Laws 1947, c. 235, § 7(3), p. 749; Laws 1949, c. 212, § 10, p. 606; Laws 1999, LB 779, § 32. Annotations If no application is made by lessee, board may enter into a lease with any person willing and able to meet statutory requirements. State ex rel. Ebke v. Board of Educational Lands & Funds, 154 Neb. 244, 47 N.W.2d 520 (1951).
Nebraska Legal Code