Iowa § 315.4A Restrictions on use

Iowa Statutes

§ 315.4A — Restrictions on use

Iowa § 315.4A

Title VIIITRANSPORTATION

Ch. 315REVITALIZE IOWA’S SOUND ECONOMY (RISE) FUND

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Bluebook

Iowa Code § 315.4A (2026).

Text

Moneys allocated pursuant to section 315.4, subsection 1, paragraph “b”, and section 315.4,
subsection 2, 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 allocated pursuant to section 315.4, subsection 1, paragraph “b”, and section 315.4,
subsection 2, 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.