Section 260C.71 – Community college bond program — definitions — funding — bonds and notes.
260C.71 Community college bond program — definitions — funding — bonds and notes. 1. As used in this section and section 260C.72, unless the context otherwise requires: a. “Authority” means the Iowa finance authority. b. “Bonds” means revenue bonds which are payable solely as provided in this section and section 260C.72. 2. The authority shall […]
Section 260C.72 – Security — reserve funds — pledges — nonliability.
260C.72 Security — reserve funds — pledges — nonliability. 1. a. The authority may provide in the resolution, trust agreement, or other instrument authorizing the issuance of its bonds or notes pursuant to section 260C.71 that the principal of, premium, and interest on the bonds or notes are payable from any of the following and […]
Section 260C.73 – Rules.
260C.73 Rules. The authority shall adopt rules pursuant to chapter 17A to implement sections 260C.71 and 260C.72. 90 Acts, ch 1253, §78 C91, §280A.73 C93, §260C.73
Section 260C.62 – Accounts.
260C.62 Accounts. 1. A certified copy of each resolution providing for the issuance of bonds or notes under this subchapter shall be filed with the treasurer of the institution on behalf of which the bonds or notes are issued and the treasurer shall keep and maintain separate accounts for each issue of bonds or notes […]
Section 260C.63 – No obligation against state.
260C.63 No obligation against state. Under no circumstances shall any bonds or notes issued under the terms of this subchapter be or become or be construed to constitute a charge against the state of Iowa within the purview of any constitutional or statutory limitation or provision. Taxes, appropriations, or other funds of the state of […]
Section 260C.64 – Who may invest.
260C.64 Who may invest. All banks, trust companies, building and loan associations, savings associations, investment companies, and other persons carrying on an investment business, all insurance companies, insurance associations, and other persons carrying on an insurance business, and all executors, administrators, guardians, trustees, and other fiduciaries may legally invest any sinking funds, moneys or other […]
Section 260C.65 – Federal or other aid accepted.
260C.65 Federal or other aid accepted. The board of directors of each community college may apply for and accept federal aid or nonfederal gifts or grants of funds, and may use the aid, gifts, or funds to pay all or any part of the cost of carrying out any project at any institution under the […]
Section 260C.66 – Reports to general assembly.
260C.66 Reports to general assembly. 1. The board of directors of each community college shall determine, in consultation with the legislative services agency, the financial information to be included in line item budget information for projects funded by the issuance of bonds or notes under this chapter and shall submit the line item budget information […]
Section 260C.67 – Alternative method.
260C.67 Alternative method. This subchapter shall be construed as providing an alternative and independent method for carrying out any project at any institution under the control of a community college board of directors, for the issuance and sale or exchange of bonds or notes in connection with a project and for refunding bonds or notes […]
Section 260C.68 – Prior action legalized.
260C.68 Prior action legalized. All rights previously acquired in connection with the financing of any project at any institution are preserved and all acts and proceedings taken by the board preliminary to and in connection with the authorization and issuance of any previously issued and outstanding notes or other obligations for any project are hereby […]