Iowa § 257B.40 Interest charged to counties

Iowa Statutes

§ 257B.40 — Interest charged to counties

Iowa § 257B.40

Title VIIEDUCATION, HISTORY, AND CULTURE

Ch. 257BSCHOOL FUNDS

This text of Iowa § 257B.40 (Interest charged to counties) 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.

Bluebook

Iowa Code § 257B.40 (2026).

Text

The director of the department of administrative services shall also, on the first day of
January, charge to each county having permanent school funds under its control, interest
thereon at the rate of three percent per annum for the preceding year, or such part thereof
as such funds shall have been in the control of the county, which shall be taken as the whole
9 SCHOOL FUNDS, §257B.44
amount of interest due from such county. All interest collected above the three percent
charged by the state shall be transferred to the general county fund.

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The director of the department of administrative services shall also, on the first day of
January, charge to each county having permanent school funds under its control, interest
thereon at the rate of three percent per annum for the preceding year, or such part thereof
as such funds shall have been in the control of the county, which shall be taken as the whole
9 SCHOOL FUNDS, §257B.44
amount of interest due from such county. All interest collected above the three percent
charged by the state shall be transferred to the general county fund.