257B.1 Definitions. As used in this chapter, unless the context otherwise requires, “book”, “list”, “record”, or “schedule” kept by a county auditor, assessor, treasurer, recorder, sheriff, or other county officer means the county system as defined in section 445.1. 2000 Acts, ch 1148, §1
257B.10 Uniform interest date. If money is due to the permanent school fund, either for loans or deferred payments of the purchase price of land sold, the interest shall be made payable on the first day of January each year, and if the debtor fails to pay the interest within six months of the date […]
257B.11 School fund accounts — audit of losses. The director of the department of administrative services shall keep the permanent school fund accounts in books provided for that purpose, separate and distinct from the revenue books. The auditor of state shall audit losses to the permanent school or university fund caused by defalcation, mismanagement, or […]
257B.12 Bonds to cover losses. When any sum not less than one thousand dollars shall be so audited and so become a debt of the state to the fund, as provided by the Constitution of the State of Iowa, the auditor of state shall issue the bond or bonds of the state in favor of […]
257B.15 Management. Property and money accrued to the permanent school fund shall be managed and controlled by the treasurer of state, and the treasurer of state is responsible for the safekeeping, investment, reinvestment and disbursement of the property and money. [R60, §1980; C73, §1859, 1860; C97, §2848; C24, 27, 31, 35, 39, §4483; C46, 50, […]
257B.16 Actions. Actions for and in behalf of the fund may be brought in the name of the state for the use of the permanent school fund, by the attorney general. [C73, §1860; C97, §2848; C24, 27, 31, 35, 39, §4484; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.16] 83 […]
257B.17 Liability of county. Each county is liable for losses upon loans of the permanent school fund, principal or interest, made in the county, unless the loss was not occasioned by reason of a default of its officers or by taking insufficient or imperfect securities, or from a failure to bid at an execution sale […]
257B.18 Exemption of county. All claims for exemption from liability on account of losses shall be examined into and adjusted by the director of the department of administrative services, upon proof submitted to the director in writing in behalf of the county within three months after the county auditor shall be advised by the director […]
257B.19 Loans. The permanent school fund shall be loaned out or invested by the treasurer of state as it comes into the treasurer’s hands. [R60, §1981; C73, §1861; C97, §2849; S13, §2849; C24, 27, 31, 35, 39, §4487; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.19] 83 Acts, ch 185, […]
257B.1A Permanent fund. The permanent school fund, the interest of which only can be appropriated for school purposes, shall consist of: 1. Five percent of the net proceeds of the public lands of the state. 2. The proceeds of the sale of the five hundred thousand acres of land granted the state under the eighth […]
257B.1B Interest for Iowa schools fund — transfer of interest. An interest for Iowa schools fund is established in the office of treasurer of state. The department of administrative services shall deposit interest earned on the permanent school fund in the interest for Iowa schools fund. The treasurer shall transfer moneys in the interest for […]
257B.2 Lands and escheats. The proceeds of all lands sold, and all sums due from escheats, shall be payable to the treasurer of the county in which the lands or escheated estates are situated or found, and the county treasurer shall pay the proceeds to the state treasurer once each month. [R60, §1965; C73, §1840; […]
257B.20 Investment of permanent fund. The permanent school fund which is, at any time, in the custody of the treasurer of state, shall be invested as follows: 1. In bonds or other evidences of indebtedness issued, assumed, or guaranteed by the United States of America, or by any agency or instrumentality thereof. 2. In bonds, […]
257B.28 Statute of limitation. Lapse of time is not a bar to action to recover a part of the permanent school fund, and it does not prevent the introduction of evidence in an action, except as provided in sections 614.29 through 614.38. [C73, §1880, 2542; C97, §2852; C24, 27, 31, 35, 39, §4495; C46, 50, […]
257B.29 Payments. Payments to the permanent school fund upon contracts, or loans of another nature, shall be made to the treasurer of the county upon a certificate from the auditor showing the amount due. [R60, §1986; C73, §1867; C97, §2853; C24, 27, 31, 35, 39, §4496; C46, 50, 54, 58, 62, 66, 71, 73, 75, […]
257B.30 Release of mortgage. The auditor shall, when the debt is paid, release any mortgage or issue a certificate of purchase, as the case may be, and report the same to the board of supervisors at its next meeting, which report shall be carried into the records of the board. [R60, §1986; C73, §1867; C97, […]
257B.31 School fund account — settlement. The auditor shall also keep, in books to be provided for that purpose, an account to be known as the permanent school fund account, in which a memorandum of the notes, mortgages, bonds, money, and assets which may come into the auditor’s hands and those of the treasurer shall […]
257B.32 Notice of default. When outstanding contracts for the sale of school lands or notes for money of the permanent school fund loaned, or interest on the permanent school fund, are due, the auditor shall by mail at once notify the debtor to make payment within three months. [C73, §1872, 1873; C97, §2854; C24, 27, […]
257B.33 Suit — attorney fee. If the debtor does not comply with the notice, the auditor shall report the noncompliance to the school board, which may bring an action to recover the debt, and an injunction may issue for cause, without bond when so petitioned, and there shall be allowed in the judgment, entered and […]
257B.34 Bid at execution sale. Upon a sale of lands under an execution founded upon a permanent school fund claim or right, the auditor shall bid a sum required by the interests of the fund, and, if struck off to the state, it shall be thereafter treated the same as other lands belonging to the […]
