Iowa § 312.2A Restrictions on use

Iowa Statutes

§ 312.2A — Restrictions on use

Iowa § 312.2A

Title VIIITRANSPORTATION

Ch. 312ROAD USE TAX FUND

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Bluebook

Iowa Code § 312.2A (2026).

Text

Moneys credited pursuant to section 312.2, subsection 1, paragraphs “b” and “c”, and
section 312.2, subsection 12, paragraph “a”, shall not be used for debt service or to otherwise
pay principal and interest on bonds, loans, or other indebtedness issued or incurred on
or after February 25, 2015, including refunding, reissuance, or other refinancing of such
indebtedness, or refunding, reissuance, or other refinancing of indebtedness issued or
incurred prior to February 25, 2015, if the term for repayment of the indebtedness as financed
or refinanced would exceed the useful life of the asset being constructed, reconstructed,
improved, repaired, equipped, or maintained.

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Moneys credited pursuant to section 312.2, subsection 1, paragraphs “b” and “c”, and
section 312.2, subsection 12, paragraph “a”, shall not be used for debt service or to otherwise
pay principal and interest on bonds, loans, or other indebtedness issued or incurred on
or after February 25, 2015, including refunding, reissuance, or other refinancing of such
indebtedness, or refunding, reissuance, or other refinancing of indebtedness issued or
incurred prior to February 25, 2015, if the term for repayment of the indebtedness as financed
or refinanced would exceed the useful life of the asset being constructed, reconstructed,
improved, repaired, equipped, or maintained.