Iowa Code Title I. State Sovereignty and Management [Chs. 1-38D] § 15F.404. Sports tourism infrastructure program fund

1. a. The authority shall establish a fund pursuant to section 15.106A, subsection 1, paragraph “o”, for purposes of financing sports tourism infrastructure projects as described in this subchapter. The fund established for purposes of this section may be administered as a revolving fund and may consist of any moneys appropriated by the general assembly for purposes of this section.

b. Notwithstanding section 8.33, moneys in a fund established for purposes of this section at the end of each fiscal year shall not revert to any other fund but shall remain in the fund for expenditure for subsequent fiscal years.

c. Notwithstanding section 12C.7, subsection 2, interest or earnings on moneys in the fund shall be credited to the fund.

2. a. Moneys in the fund are appropriated to the authority for purposes of providing financial assistance to cities, counties, and eligible public entities under the sports tourism marketing and infrastructure program established and administered pursuant to this subchapter.

b. The board in its discretion shall allocate the available moneys in the fund among the programs described in paragraph “a” in the amounts determined by the board.

c. The authority may use not more than five percent of the moneys in the fund at the beginning of each fiscal year for purposes of administrative costs, technical assistance, and other program support.