This text of Iowa § 161A.71 (Conservation practices revolving loan fund) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
1.The division may establish a conservation practices revolving loan fund composed
of any money appropriated by the general assembly for that purpose, and of any other
moneys available to and obtained or accepted by the division from the federal government
or private sources for placement in that fund. Except as otherwise provided by subsection 3,
the assets of the conservation practices revolving loan fund shall be used only to make loans
directly to owners of land in this state for the purpose of establishing on that land any new
permanent soil and water conservation practice which the commissioners of the soil and
water conservation district in which the land is located have found is necessary or advisable
to meet the soil loss limits established for that land. A loan shall not be made
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1. The division may establish a conservation practices revolving loan fund composed
of any money appropriated by the general assembly for that purpose, and of any other
moneys available to and obtained or accepted by the division from the federal government
or private sources for placement in that fund. Except as otherwise provided by subsection 3,
the assets of the conservation practices revolving loan fund shall be used only to make loans
directly to owners of land in this state for the purpose of establishing on that land any new
permanent soil and water conservation practice which the commissioners of the soil and
water conservation district in which the land is located have found is necessary or advisable
to meet the soil loss limits established for that land. A loan shall not be made for establishing
a permanent soil and water conservation practice on land that is subject to the restriction on
state cost-sharing funds of section 161A.76. Revolving loan funds and public cost-sharing
funds may be used in combination for funding a particular soil and water conservation
practice. Eachloanmadeunderthissectionshallbeforaperiodnottoexceedtenyears, shall
bear no interest, and shall be repayable to the conservation practices revolving loan fund in
equalyearlyinstallmentsdueMarch1ofeachyeartheloanisineffect. Theinterestrateupon
loans for which payment is delinquent shall accelerate immediately to the current legal usury
limit. Applicants are eligible for no more than twenty thousand dollars in loans outstanding
at any time under this program. “Permanent soil and water conservation practices” has the
same meaning as defined in section 161A.42 and those established under this program are
subject to the requirements of section 161A.7, subsection 3. Loans made under this program
shall come due for payment upon sale of the land on which those practices are established.
2. The general assembly finds and declares the following:
a. The erosion of topsoil on agricultural land by wind and water is a serious problem
within the state and one which threatens to destroy the natural resource most responsible for
Iowa’s prosperity.
b. It is necessary to the preservation of the economy and well-being of the state to
encourage soil conservation practices by providing loans for permanent soil and water
conservation practices on agricultural land within the state.
c. The use of state funds for the conservation practices revolving loan fund established
under subsection 1 is in the public interest, and the purposes of this section are public
purposes and uses for which public moneys may be borrowed, expended, advanced, loaned,
or granted.
3. The division may:
a. Contract, sue and be sued, and promulgate administrative rules necessary to carry out
the provisions of this section, but the division shall not in any manner directly or indirectly
pledge the credit of the state of Iowa.
b. Authorize payment from the conservation practices revolving loan fund and from fees
for costs, commissions, attorney fees and other reasonable expenses related to and necessary
for making and protecting direct loans under this section, and for the recovery of moneys
loaned or the management of property acquired in connection with such loans.
4. This section does not negate the provisions of section 161A.48 that an owner or
occupant of land in this state shall not be required to establish any new soil and water
conservation practice unless public cost-sharing funds have been approved and are available
for the land affected. However, the owner of land with respect to which an administrative
order to establish soil and water conservation practices has been issued under section
161A.47 but not complied with for lack of public cost-sharing funds, may waive the right to
await availability of such funds and instead apply for a loan under this section to establish
any permanent soil and water conservation practices necessary to comply with the order.
If a landowner does so, that loan application shall be given reasonable preference by the
division if there are applications for more loans under this section than can be made from the
money available in the conservation practices revolving loan fund. If it is found necessary
to deny an application for a soil and water conservation practices loan to a landowner who
has waived the right to availability of public cost-sharing funds before complying with an
administrative order issued under section 161A.47, the landowner’s waiver is void.