312.7 Balance maintained in fund.
1. The treasurer of state shall maintain in the road use tax fund in the state treasury, of the funds collected as provided in chapter 321 or as said chapter may be amended, a cash balance sufficient, when added to the cash balance of receipts in the road use tax fund from other sources, to pay the anticipated expenditures from the road use tax fund for the ensuing month.
2. When necessary to restore the balance in the road use tax fund in the state treasury, the treasurer of state shall draw upon the treasurer of each county of the state in proportion to the amounts in their possession, respectively, of the funds collected under the provisions of chapter 321 or as said chapter may be amended, and credited to the road use tax fund, a sum sufficient in the aggregate to restore the cash balance in the road use tax fund. Such drafts shall be honored by the treasurer of each county upon presentation.
[C24, 27, 31, 35, §4772, 5003; C39, §4686.26, 4772, 5010.03; C46, §310.26, 316.17, 321.147; C50, §308A.7; C54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §312.7]
Structure Iowa Code
Chapter 312 - ROAD USE TAX FUND
Section 312.2 - Allocations from fund.
Section 312.2A - Restrictions on use.
Section 312.3 - Apportionment to counties and cities.
Section 312.3A - Street research fund.
Section 312.3B - Iowa county engineers association service bureau support fund.
Section 312.3C - Secondary road fund distribution committee.
Section 312.3D - Street construction fund distribution advisory committee.
Section 312.4 - Treasurer’s report to the department of transportation.
Section 312.5 - Division of farm-to-market road funds.
Section 312.6 - Limitation on use of funds.
Section 312.7 - Balance maintained in fund.
Section 312.8 - Amana colonies.
Section 312.9 - Fund not for personnel expense.
Section 312.11 - Accounts of expenditures.
Section 312.12 - Program submitted.
Section 312.14 - Cities to submit report.