Nebraska Revised Statute 71-15,120
Chapter 71 Section 15,120
Investments in obligations authorized.
The state and all public agencies therein, all banks, bankers, trust companies, savings banks and institutions, investment companies, insurance companies, insurance associations, and other persons carrying on a banking or insurance business, and all executors, administrators, guardians, trustees, and other fiduciaries may legally invest any money or funds belonging to them or within their control in any obligations issued by a housing agency, and such obligations shall be authorized security for all public deposits. It is the purpose of the Nebraska Housing Agency Act to authorize any of such persons to use any funds owned or controlled by them, including, but not limited to, sinking, insurance, investment, retirement, compensation, pension, and trust funds and funds held on deposit for the purchase of any such obligations. Nothing contained in the act shall be construed as relieving any person, firm, or corporation from any duty or exercising reasonable care in selecting securities. The provisions of the act shall apply notwithstanding any restrictions on investments contained in other laws.