§ 260J.2 — Loans payable from new jobs credit from withholding

Iowa § 260J.2

• Jurisdiction: Iowa
• Title VII: EDUCATION, HISTORY, AND CULTURE
• Ch. 260J: NEW JOBS TRAINING PROJECT FUNDING — CREDITS AND LOANS

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1. As an additional means to provide moneys for the payment of the costs of a new jobs
training project or multiple projects under chapter 260E and this chapter, a community
college may make an advance or loan, including an interfund transfer or a loan from moneys
on hand and legally available, to be paid from the same sources and secured in the same
manner as certificates described in sections 260J.1 and 260E.6.
2. Revenues from a job training agreement received prior to the completion by a business
of its repayment obligation for a project and not pledged to certificates, loans, or advances,
and not necessary for the payment of principal and interest maturing on such certificates,
loans, or advances, may be applied by the community college to the reduction of any other
outstanding certificates, loans, or advances.