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Current as of January 01, 2024 | Updated by FindLaw Staff
Whenever bonds are issued by the state board of regents, it shall be the duty of said board to establish, impose, and collect student fees and charges at the institution on behalf of which such bonds are issued, and to adjust such student fees and charges from time to time, in order always to provide amounts which, together with the institutional income, will be sufficient to pay the principal of and interest on such bonds as the same become due and to maintain a reserve therefor, and said board is authorized to pledge a sufficient amount of the student fees and charges and institutional income received by such institution for this purpose. Student fees and charges and institutional income received by one institution shall not be used to discharge bonds issued for or on account of another institution. All bonds issued under the terms of this chapter shall be exempt from taxation by the state of Iowa and the interest thereon shall be exempt from the state income tax.
Cite this article: FindLaw.com - Iowa Code Title VII. Education and Cultural Affairs [Chs. 256-305B] § 262A.8. Student fees to pay bonds - last updated January 01, 2024 | https://codes.findlaw.com/ia/title-vii-education-and-cultural-affairs-chs-256-305b/ia-code-sect-262a-8/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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