Iowa § 261A.49 Bondholders — pledge — agreement of the state

Iowa Statutes

§ 261A.49 — Bondholders — pledge — agreement of the state

Iowa § 261A.49

Title VIIEDUCATION, HISTORY, AND CULTURE

Ch. 261AHIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)

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Bluebook

Iowa Code § 261A.49 (2026).

Text

The state pledges to and agrees with the holders of any obligations issued under this
subchapter, and with those parties who enter into contracts with the authority pursuant to
this subchapter, that the state will not limit or alter the rights vested in the authority until
the obligations, together with the interest on the obligations, are fully met and discharged
and the contracts are fully performed on the part of the authority, except that this section
does not preclude the limitation or alteration if and when adequate provision is made by
law for the protection of the rights of the holders of the obligations of the authority or those
entering into contracts with the authority.

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The state pledges to and agrees with the holders of any obligations issued under this
subchapter, and with those parties who enter into contracts with the authority pursuant to
this subchapter, that the state will not limit or alter the rights vested in the authority until
the obligations, together with the interest on the obligations, are fully met and discharged
and the contracts are fully performed on the part of the authority, except that this section
does not preclude the limitation or alteration if and when adequate provision is made by
law for the protection of the rights of the holders of the obligations of the authority or those
entering into contracts with the authority.