§ 468.70 — Installment assessments — interest-bearing warrants — improvement certificates

Iowa § 468.70

• Jurisdiction: Iowa
• Title XI: NATURAL RESOURCES
• Ch. 468: LEVEE AND DRAINAGE DISTRICTS AND IMPROVEMENTS

Text

certificates.
1. The board may provide by resolution for the payment of assessments in not more than
twenty annual installments with interest at a rate determined by the board, notwithstanding
chapter74A. Theboardmayissuewarrantsbearinginterestatthesamerate, whichwarrants
shall be numbered and state a maturity date, in which event the warrants shall bear interest

from the date of issuance without being presented for payment and marked unpaid for want
of funds. The warrants may be sold by the board for cash in an amount not less than their
face value, together with any accrued interest.
2. The board may provide by resolution for the issuance of improvement certificates
payabletobearerortothecontractors, namingthem, whohaveconstructedtheimprovement
or completed any part of the improvement, in payment or part payment of such work.

Legislative History

[S13, §1989-a26; C24, 27, 31, 35, 39, §7499; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §455.77]