Section 350-41-004 - POWER DISTRICTS AND CORPORATIONS004.01 Every public power district and irrigation district that was organized to provide electricity and paid in lieu of tax in 1957 shall continue to pay annually that same amount of property taxes assessed against said property in 1957 so long as it owns said property.004.02 The county treasurer receiving the 1957 in lieu of tax shall distribute the payment to the political subdivisions and the state based upon the 1957 distribution.004.03 Any public power district or irrigation district that sells electricity at retail within an incorporated city or village shall by April 1 of each year, make an in lieu of tax payment to the county treasurer of the county in which the city or village is located. The in lieu of tax payment shall be five percent (5%) of the gross retail sales collected from within the city or village, for the previous calendar year less the amount of the 1957 in lieu of tax that was allocated to the city or village.004.04 The county treasurer receiving the five (5%) percent gross in lieu of tax shall distribute the payment to the city or village from which the retail revenues were collected, the school district located in that city or village and to the county. The distribution shall be based upon the proportionate share the individual levies in the preceding year bore to the total of such levies.004.05 Public power and irrigation districts are subject to the motor vehicle taxes and fees imposed under Neb. Rev. Stat. Sections 60-3,186 and 60-3,190.004.06 Property of public power districts and irrigation districts that is leased to a private party for purposes other than a public purpose as defined in Regulation Property Owned by the State and Governmental Subdivisions, shall be subject to taxation as if the property was owned by the lessee. See Property Owned by the State and Governmental Subdivisions Regulation, Chapter 15.004.07 The assessor shall obtain information concerning the in lieu of taxes from the county treasurer and report such information as required by the Property Tax Administrator on the Certificate of Taxes Levied Report.350 Neb. Admin. Code, ch. 41, § 004