Title I, STATE SOVEREIGNTY AND MANAGEMENT (Ch. 1 - 38D)

1. Moneys of the authority, except as otherwise provided in this chapter or specified in a trust indenture or resolution pursuant to which the bonds are issued, shall be paid to the authority and shall be deposited in a financial institution designated by the authority. The money…

The authority and contracts entered into by the authority in carrying out its public and essential governmental functions are exempt from the laws of the state which provide for competitive bids and hearings in connection with contracts, except as provided in section 12.30 . 2000…

1. The authority shall submit to the governor, the general assembly, and the attorney general, on or before December 31, annually, a report including information regarding all of the following: a. Its operations and accomplishments. b. Its receipts and expenditures during the pre…

Prior to the date which is three hundred sixty-six days after which the authority no longer has any bonds outstanding, the authority is prohibited from filing a voluntary petition under chapter nine of the federal bankruptcy code, 11 U.S.C. §901 et seq., or such corresponding cha…

The authority shall dissolve no later than two years from the date of final payment of all outstanding bonds and the satisfaction of all outstanding obligations of the authority, except to the extent necessary to remain in existence to fulfill any outstanding covenants or provisi…

This chapter , being deemed necessary for the welfare of the state and its people, shall be liberally construed to effect its purpose. 2000 Acts, ch 1208, §18, 25

As used in this chapter , unless the context otherwise requires: 1. “Authority” means the tobacco settlement authority created in this chapter . 2. “Board” means the governing board of the authority. 3. “Bonds” means bonds, notes, and other obligations and financing arrangements …

1. A tobacco settlement authority is created and constitutes a public instrumentality and agency of the state, separate and distinct from the state, exercising public and essential governmental functions. 2. The purposes of the authority include all of the following: a. To implem…

1. The general assembly reaffirms and reenacts the purposes stated for the use of moneys deposited in the healthy Iowans tobacco trust, as the purposes were enacted in 2000 Iowa Acts, ch. 1232, §12 , and codified in section 12.65, Code 2007 , as the purposes for the endowment for…

This chapter shall not restrict or limit the powers which the authority has under any other law of this state, but is cumulative as to any such powers. A proceeding, notice, or approval is not required for the creation of the authority or the issuance of obligations or an instrum…

1. The powers of the authority are vested in and shall be exercised by a board consisting of the treasurer of state, the auditor of state, and the director of the department of management. Notwithstanding the provisions of section 12.30, subsection 2 , regarding ex officio nonvot…

1. The staff of the office of the treasurer of state shall also serve as staff of the authority under the supervision of the treasurer. 2. State officers, agencies, and departments may render services to the authority within their respective functions, as requested by the authori…

Members of the board and persons acting on the authority’s behalf, while acting within the scope of their employment or agency, are not subject to personal liability resulting from carrying out the powers and duties conferred on them under this chapter . 2000 Acts, ch 1208, §7, 2…

1. The authority has all the general powers necessary to carry out its purposes and duties and to exercise its specific powers, including but not limited to all of the following powers: a. The power to issue its bonds and to enter into other funding options as provided in this ch…

1. a. The governor or the governor’s designee shall sell and assign all or a portion of the state’s share to the authority pursuant to one or more sales agreements for the purpose of securitization as described in the program plan and as specified in section 12E.10 . The attorney…