§ 263A.8 — No obligation of the state on bonds or notes

Iowa § 263A.8

• Jurisdiction: Iowa
• Title VII: EDUCATION, HISTORY, AND CULTURE
• Ch. 263A: MEDICAL AND HOSPITAL BUILDINGS AT UNIVERSITY OF IOWA

Text

Under no circumstances shall any bonds or notes issued under the terms of this chapter be
or become or be construed to constitute a debt of or a charge against the state of Iowa within
thepurviewofanyconstitutionalorstatutorylimitationorprovision. Notaxes, orotherfunds
of the state of Iowa appropriated to the institution may be pledged for or used to pay such
bonds or notes or the interest thereon but any such bonds or notes shall be payable solely
and only as to both principal and interest from the hospital income received by the institution
as hereinbefore provided, and the sole remedy for any breach or default of the terms of any
such 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 chapter and the terms of the resolution under which such bonds or notes are
issued.

Legislative History

[C71, 73, 75, 77, 79, 81, §263A.8]