262A.10 Bonds not state obligation.
Under no circumstances shall any bonds issued under the terms of this chapter be or become or be construed to constitute a debt of or a charge against the state of Iowa within the purview of any constitutional or statutory limitation or provision. No taxes, appropriations, or other funds of the state of Iowa may be pledged for or used to pay such bonds or the interest thereon but any such bonds shall be payable solely and only as to both principal and interest from the student fees and charges and institutional income received by the institutions of higher learning under the control of the state board of regents as provided in this chapter, and the sole remedy for any breach or default of the terms of any such bonds or proceedings for their issuance shall be a proceeding either in law or in equity by suit, action, or mandamus to enforce and compel performance of the duties required by this chapter and the terms of the resolution under which such bonds are issued.
[C71, 73, 75, 77, 79, 81, §262A.10]
Structure Iowa Code
Title VII - EDUCATION AND CULTURAL AFFAIRS
Chapter 262A - UNIVERSITY BUILDINGS, FACILITIES, AND SERVICES — REVENUE BONDS
Section 262A.1 - Declaration of insufficient state revenue.
Section 262A.3 - Five-year program and two-year bond proposal submitted each year.
Section 262A.4 - Authorization of general assembly and governor.
Section 262A.5 - Borrowing money and issuing bonds.
Section 262A.6 - Form and condition of bonds.
Section 262A.6A - Iowa college super savings plan.
Section 262A.7 - Resolution of board and covenants undertaken.
Section 262A.8 - Student fees to pay bonds.
Section 262A.9 - Bond fund account.
Section 262A.10 - Bonds not state obligation.
Section 262A.11 - Bonds as security for investments.
Section 262A.12 - Application for gifts, loans, or grants.