Neb. Rev. Stat. § 79-409: Class V school district; body corporate; powers.

Each incorporated city of the metropolitan class in the State of Nebraska shall contain at least one Class V school district. A Class V school district shall be a body corporate and possess all the usual powers of a corporation for public purposes and may sue and be sued, purchase, hold, and sell such personal and real property, and control such obligations as are authorized by law.