§ 185C.26 — Deposit of moneys — corn promotion fund

Iowa § 185C.26

• Jurisdiction: Iowa
• Title V: AGRICULTURE
• Ch. 185C: CORN PROMOTION BOARD

Text

A state assessment collected by the board from a sale of corn shall be deposited in the office
of the treasurer of state in a special fund known as the corn promotion fund. The fund may
include any gifts, rents, royalties, interest, license fees, or a federal or state grant received by
the board. Moneys collected, deposited in the fund, and transferred to the board as provided
in this chapter shall be subject to audit by the auditor of state. The auditor of state may
seek reimbursement for the cost of the audit from moneys deposited in the fund as provided
in this chapter. The department of administrative services shall transfer moneys from the
fund to the board for deposit into an account established by the board in a qualified financial
institution. The department shall transfer the moneys as provided in a resolution adopted by
the board. However, the department is only required to transfer moneys once during each
day and only during hours when the offices of the state are open. From moneys collected, the
board shall first pay all the direct and indirect costs incurred by the secretary and the costs
of referendums, elections, and other expenses incurred in the administration of this chapter,
before moneys may be expended to carry out the purposes of this chapter as provided in
section 185C.11.

Legislative History

[C77, 79, 81, §185C.26]