§ 331.468 — Funds — payments

Iowa § 331.468

• Jurisdiction: Iowa
• Title IX: LOCAL GOVERNMENT
• Ch. 331: COUNTY HOME RULE IMPLEMENTATION

Text

1. If a county enterprise or combined county enterprise has on hand surplus funds, after
makingalldepositsintoallfundsrequiredbytheterms,covenants,conditions,andprovisions
of outstanding revenue bonds, pledge orders, and other obligations which are payable from
the revenues of the county enterprise or combined county enterprise and after complying
with all of the requirements, terms, covenants, conditions and provisions of the proceedings
and resolutions pursuant to which revenue bonds, pledge orders, and other obligations are
issued,theboardmaytransferthesurplusfundstoanyotherfundofthecountyinaccordance
with applicable law, provided that a transfer shall not be made if it conflicts with any of the
requirements, terms, covenants, conditions, or provisions of any resolution authorizing the
issuance of revenue bonds, pledge orders, or other obligations which are payable from the
revenues of the county enterprise or combined county enterprise which are then outstanding.
2. This part does not prohibit or prevent the board from using funds derived from the
issuance of general obligation bonds, the levy of special assessments and the issuance
of special assessment bonds, and any other source which may be properly used for such
purpose, to pay a part of the cost of a project.
3. The county shall pay for the use of or the services provided by the county enterprise or
combined county enterprise as any other customer, except that the county may pay for use
or service at a reduced rate or receive free use or service so long as the county complies with
the provisions, terms, conditions and covenants of all resolutions pursuant to which revenue
bonds or pledge orders are issued and outstanding.

Legislative History

[S81, §331.468; 81 Acts, ch 117, §467]