12A.6 Pledge of funds.
1. Any amounts authorized to be pledged as security for bonds may be held in separate and distinct funds in the state treasury, unless otherwise specified in the authorizing documents. Moneys so held shall not be subject to appropriation for any other purpose by the general assembly, but shall be used only for debt service on the bonds and other amounts as set forth in the authorizing documents. The treasurer of state may act as custodian of the funds and disburse moneys contained in the funds as directed by the authorizing documents.
2. Moneys in any fund pledged as security for bonds are not subject to section 8.33. Notwithstanding section 12C.7, subsection 2, interest or earnings on moneys in the funds shall be credited to the applicable fund.
2007 Acts, ch 133, §6; 2008 Acts, ch 1065, §6
Structure Iowa Code
Title I - STATE SOVEREIGNTY AND MANAGEMENT
Chapter 12A - UNIFORM FINANCE PROCEDURES FOR STATE-ISSUED BONDS
Section 12A.2 - Provisions applicable.
Section 12A.3 - Special obligations.
Section 12A.4 - General powers.
Section 12A.5 - Reserve funds.
Section 12A.6 - Pledge of funds.
Section 12A.7 - Authorizing documents provisions.
Section 12A.8 - Bonds secured by authorizing documents.
Section 12A.11 - Provisions controlling.