12.80 General and specific bonding powers — prison infrastructure.
1. The treasurer of state is authorized to issue bonds to provide prison infrastructure financing as provided in this section. Bonds shall be issued in accordance with the provisions of chapter 12A.
2. Bonds issued under this section are payable solely and only out of the moneys, assets, or revenues of the prison infrastructure fund established in section 602.8108A, and other moneys available as provided in this section, all of which may be deposited with trustees or depositories in accordance with bond or security documents, and are not an indebtedness of this state, or a charge against the general credit or general fund of the state, and the state shall not be liable for the bonds except from amounts on deposit in the prison infrastructure fund and other moneys available as provided in this section. Bonds issued under this section shall contain a statement that the bonds do not constitute an indebtedness of the state.
3. Bonds issued under this section are declared to be issued for an essential public and governmental purpose and all bonds issued under this section shall be exempt from taxation by the state of Iowa and the interest on the bonds shall be exempt from the state income tax and the state inheritance tax.
4. The net proceeds from the bonds issued under this section shall be deposited into the FY 2009 prison bonding fund.
5. The treasurer of state shall cooperate with the department of corrections in the implementation of this section.
6. In order to assure maintenance of bond reserve funds, an issuer shall, on or before January 1 of each calendar year, make and deliver to the governor the issuer’s certificate stating the sum, if any, required to restore each bond reserve fund to the bond reserve fund requirement for that fund. Within thirty days after the beginning of the session of the general assembly next following the delivery of the certificate, the governor shall submit to both houses printed copies of a budget including the sum, if any, required to restore each bond reserve fund to the bond reserve fund requirement for that fund. Any sums appropriated by the general assembly and paid to the issuer pursuant to this subsection shall be deposited by the issuer in the applicable bond reserve fund.
2008 Acts, ch 1179, §42; 2010 Acts, ch 1138, §45; 2014 Acts, ch 1076, §9
Referred to in §12.79, 422.7(2)(g), 602.8108A
Structure Iowa Code
Title I - STATE SOVEREIGNTY AND MANAGEMENT
Chapter 12 - TREASURER OF STATE
Section 12.1 - Office — accounts — reports.
Section 12.2 - Daily balance sheet.
Section 12.3 - Record and payment of warrants.
Section 12.6 - Report to and account with director of the department of administrative services.
Section 12.7 - Interest on bonds.
Section 12.9 - Employee classifications.
Section 12.10 - Deposits by state officers.
Section 12.14 - Statement itemized.
Section 12.15 - Director and treasurer to keep account.
Section 12.16 - Swampland indemnity.
Section 12.17 - Biennial report.
Section 12.19 - Six-months limit on checks.
Section 12.20 - Issuance of new check.
Section 12.21 - Accepting credit card payments.
Section 12.25 - Legislative findings.
Section 12.26 - Issuance of revenue anticipation notes.
Section 12.28 - Centralized financing for state agency purchase of real and personal property.
Section 12.30 - Coordination of bonding activities.
Section 12.33 - Public policy.
Section 12.34 - Linked investments — limitations — rules — maturity and renewal of certificates.
Section 12.35 - Agreement — loan applications.
Section 12.36 - Actions by treasurer.
Section 12.40 - Rural small business transfer linked investment loan program.
Section 12.41 - Horticultural and nontraditional crops linked investment loan program.
Section 12.43 - Small business linked investments program created — definitions.
Section 12.43A - Traditional livestock producer’s linked investment loan program.
Section 12.43B - Value-added agricultural linked investment loan program.
Section 12.44 - Iowa satisfaction and performance bond program.
Section 12.61 - State-sponsored credit card.
Section 12.65 - Healthy Iowans tobacco trust.
Section 12.71 - General and specific bonding powers — vision Iowa program — future repeal.
Section 12.72 - Vision Iowa fund and reserve funds.
Section 12.73 - Vision Iowa fund moneys — administrative costs.
Section 12.79 - FY 2009 prison bonding fund.
Section 12.80 - General and specific bonding powers — prison infrastructure.
Section 12.81 - General and specific bonding powers — school infrastructure program.
Section 12.82 - School infrastructure fund and reserve funds.
Section 12.83 - School infrastructure fund moneys — state fire marshal.
Section 12.87 - General and specific bonding powers — revenue bonds — Iowa jobs program.
Section 12.88 - Revenue bonds capitals fund.
Section 12.88A - Revenue bonds capitals II fund.
Section 12.89 - Revenue bonds debt service fund and bond reserve funds.
Section 12.89A - Revenue bonds federal subsidy holdback fund.
Section 12.90 - Pledges — construction.
Section 12.90A - Annual appropriation bonds.
Section 12.90B - Annual appropriation bonds debt service fund and reserve funds.
Section 12.90C - Appropriation bonds capitals fund.
Section 12.91 - Utilities board and consumer advocate building project — bond issue.