Iowa § 260C.63 No obligation against state

Iowa Statutes

§ 260C.63 — No obligation against state

Iowa § 260C.63

Title VIIEDUCATION, HISTORY, AND CULTURE

Ch. 260CCOMMUNITY COLLEGES

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Bluebook

Iowa Code § 260C.63 (2026).

Text

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 Iowa shall not be pledged for or used to pay for the bonds or notes
or for the interest on the bonds or notes. Any principal and interest on bonds or notes issued
under this subchapter shall be payable only from the net rents, profits, and income derived
from the operation of residence halls and dormitories, including dining and other incidental
facilities, at the institutions of higher learning under the control of the board, and the sole
remedy for any breach or default of the terms of any bo

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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 Iowa shall not be pledged for or used to pay for the bonds or notes
or for the interest on the bonds or notes. Any principal and interest on bonds or notes issued
under this subchapter shall be payable only from the net rents, profits, and income derived
from the operation of residence halls and dormitories, including dining and other incidental
facilities, at the institutions of higher learning under the control of the board, and the sole
remedy for any breach or default of the terms of any bonds or notes or proceedings for their
issuance shall be a proceeding either in law or in equity by suit, action, or mandamus to
enforce and compel performance of the duties required by this subchapter and the terms of
the resolution under which the bonds or notes are issued.