| Welcome to the NPAIT Web Page!
Several years ago, a number of public officials
approached their statewide associations, concerning the creation of a statewide cash
management system, which would provide an investment alternative for short-term funds.
This led to the development and adoption of an Interlocal Agreement and Declaration of
Trust by the initial participants and settlers to maximize interest on public agencies
short and long term funds.
| Public
agencies working together to safely increase interest income. |
From this adoption, the Nebraska Association
of County Officials (NACO) and the Nebraska Rural Electric Association (NREA) brought
together members of their respective associations, with the assistance of service
providers, to create the Nebraska Public Agency Investment Trust (NPAIT). |
Since
that time, the trust has been endorsed not only by NACO and
the NREA, but also by the following associations: Nebraska
Community College Association (NCCA), the Northeast Nebraska
Economic Development District (NENEDD), the Nebraska State
Irrigation Association (NSIA), the Metropolitan Area Planning
Agency (MAPA), the Nebraska State Volunteer Firefighters Association
(NSVFA), the Panhandle Area Development District (PADD), and
the Nebraska Association of Resources Districts (NARD).
NPAIT has participants from a variety of public agencies
throughout Nebraska. The NPAIT Board of Trustees is comprised of twelve members,
representing the different public agencies and the sponsoring associations. Thanks to the
participating agencies of NPAIT, the program is working.
Questions regarding the legality of the program were
addressed in the Attorney General Opinion #96087 dated December 18, 1996. The Attorney
General opinioned, "We believe that the Investment Trust (NPAIT) can legally perform
its intended purposes and functions for exercise of governmental subdivisions’
authority to invest their funds." |
