573.4 Deposit in lieu of bond.
A deposit of money, a certified check on a solvent bank of the county in which the improvement is to be located, a credit union certified share draft, state or federal bonds, bonds issued by a city, school corporation, or county of this state, or bonds issued on behalf of a drainage or highway paving district of this state may be received in an amount equal to the amount of the bond and held in lieu of a surety on the bond, and when so received the securities shall be held on the terms and conditions applicable to a surety.
[C24, 27, 31, 35, 39, §10302; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §573.4]
84 Acts, ch 1055, §14
Structure Iowa Code
Chapter 573 - LABOR AND MATERIAL ON PUBLIC IMPROVEMENTS
Section 573.2 - Public improvements — bond — waiver and remedies.
Section 573.3 - Bond mandatory.
Section 573.4 - Deposit in lieu of bond.
Section 573.5 - Amount of bond.
Section 573.6 - Subcontractors on public improvements.
Section 573.7 - Claims for material or labor.
Section 573.8 - Highway improvements.
Section 573.9 - Officer to endorse time of filing claim.
Section 573.10 - Time of filing claims.
Section 573.11 - Claims filed after action brought.
Section 573.12 - Payments and retention from payments on contracts.
Section 573.13 - Inviolability and disposition of fund.
Section 573.14 - Retention of unpaid funds.
Section 573.15 - Claim against retainage or bond.
Section 573.15A - Early release of retained funds.
Section 573.16 - Optional and mandatory actions — bond to release.
Section 573.18 - Adjudication — payment of claims.
Section 573.19 - Insufficiency of funds.
Section 573.20 - Converting property into money.
Section 573.21 - Attorney fees.
Section 573.22 - Unpaid claimants — judgment on bond.
Section 573.23 - Abandonment of public work — effect.
Section 573.24 - Notice of claims to state department of transportation.
Section 573.25 - Filing of claim — effect.
Section 573.26 - Public corporation — action on bond.