Iowa § 468.565 Composition with creditors — federal loans

Iowa Statutes

§ 468.565 — Composition with creditors — federal loans

Iowa § 468.565

Title XINATURAL RESOURCES

Ch. 468LEVEE AND DRAINAGE DISTRICTS AND IMPROVEMENTS

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Bluebook

Iowa Code § 468.565 (2026).

Text

For the purpose of refinancing, adjusting, composing and refunding in such adjusted
amount the indebtedness of any drainage districts or levee districts, found to be in financial
distress, the governing body thereof, or board of supervisors as the case may be, upon its
own motion, is authorized to enter into agreements with the creditors of said district, for the
reduction and composition of its outstanding indebtedness, and to make application for and
negotiate with the reconstruction finance corporation, or any other loaning agency, for the
borrowing of funds for such purposes.

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For the purpose of refinancing, adjusting, composing and refunding in such adjusted
amount the indebtedness of any drainage districts or levee districts, found to be in financial
distress, the governing body thereof, or board of supervisors as the case may be, upon its
own motion, is authorized to enter into agreements with the creditors of said district, for the
reduction and composition of its outstanding indebtedness, and to make application for and
negotiate with the reconstruction finance corporation, or any other loaning agency, for the
borrowing of funds for such purposes.