Iowa § 260C.61 Rates, fees, and rentals — pledge

Iowa Statutes

§ 260C.61 — Rates, fees, and rentals — pledge

Iowa § 260C.61

Title VIIEDUCATION, HISTORY, AND CULTURE

Ch. 260CCOMMUNITY COLLEGES

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Bluebook

Iowa Code § 260C.61 (2026).

Text

If bonds or notes are issued by a board, the board shall establish, impose, and collect rates,
fees or rentals for the use of and services provided by the residence halls and dormitories,
including dining and other incidental facilities therefor, at the institution on behalf of which
thebondsornotesareissued, shalladjusttherates, fees, orrentalsfromtimetotime, inorder
to always provide net amounts sufficient to pay the principal of and interest on the bonds or
notes as they become due, and shall maintain a reserve. The board may pledge a sufficient
amount of the net rents, profits and income derived from the operation of residence halls and
dormitories, including dining and other facilities, at the institution for this purpose. Rates,
fees,orrentalscollectedatoneinstitutionshallnotbeusedto

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If bonds or notes are issued by a board, the board shall establish, impose, and collect rates,
fees or rentals for the use of and services provided by the residence halls and dormitories,
including dining and other incidental facilities therefor, at the institution on behalf of which
thebondsornotesareissued, shalladjusttherates, fees, orrentalsfromtimetotime, inorder
to always provide net amounts sufficient to pay the principal of and interest on the bonds or
notes as they become due, and shall maintain a reserve. The board may pledge a sufficient
amount of the net rents, profits and income derived from the operation of residence halls and
dormitories, including dining and other facilities, at the institution for this purpose. Rates,
fees,orrentalscollectedatoneinstitutionshallnotbeusedtodischargebondsornotesissued
for or on account of another institution. All bonds or notes issued under the terms of this
35 COMMUNITY COLLEGES, §260C.64
subchapter shall be exempt from taxation by the state of Iowa and the interest on the bonds
or notes is exempt from the state income tax.