Iowa Code Title VII. Education and Cultural Affairs [Chs. 256-305B] § 303A.6. Board of trustees--powers and duties

1. Enter into agreements with any qualified organization, the state, or any federal or other state agency, or other entity as required to administer this part.

2. Approve or disapprove the grants recommended for approval by the director, in consultation with the Iowa arts council and the state historical society of Iowa, in accordance with section 15.108, subsection 9, paragraph (3) “b”. The board may remove any recommendation from the list, but shall not add to or otherwise amend the list of recommended grants.

3. Upon approving a grant, the board shall certify to the treasurer of state the amount of financial assistance payable from the grant account to the qualified organization whose grant application is approved.

4. Determine, in consultation with the treasurer of state, the amount of investment income attributable to the trust fund that will be available for distribution as grants to qualified organizations.

5. Accept any devise, gift, bequest, donation, or federal or other grant from any person, firm, partnership, or corporation, which the treasurer of state shall deposit into the trust fund.