Title VII, EDUCATION, HISTORY, AND CULTURE (Ch. 256 - 305B)

In the discretion of the authority, obligations may be secured by a trust agreement by and between the authority and a corporate trustee or trustees, which may be a trust company or bank located in the state of Iowa that has the powers of a trust company. The bond resolution shal…

1. Obligations are obligations of the authority only, and not of the state of Iowa. Each obligation shall state upon its face that it represents and constitutes a debt of the authority, but not of the state of Iowa within the meaning of any constitutional or statutory limitation,…

1. The authority shall fix, revise, charge, and collect fees and may contract with a person to do so. Each agreement entered into by the authority with an institution shall provide that the fees and other amounts payable by the institution of higher education with respect to a pr…

Moneys received by or on behalf of the authority under this chapter , whether as proceeds from the sale of obligations or as revenues, are trust funds to be held and applied as provided in this chapter . An officer with whom, or a bank or trust company with which the moneys are d…

A holder of obligations or a trustee under a trust agreement entered into pursuant to this chapter , except to the extent that their rights are restricted by a bond resolution, may, by any suitable form of legal proceedings, protect and enforce rights under the laws of this state…

1. The authority may issue its obligations for the purpose of refunding obligations then outstanding, including the payment of a redemption premium on the obligations and interest accrued or to accrue to the earliest or a subsequent date of redemption, purchase, or maturity of th…

Except as otherwise provided in section 261A.18, subsection 3 , the authority may invest funds in direct obligations of the United States of America; obligations for which the timely payment of principal and interest is fully guaranteed by the United States of America; obligation…

It is declared that for the benefit of the people of the state of Iowa, the conduct and increase of their commerce, the protection and enhancement of their welfare, the development of continued prosperity and the improvement of their health and living conditions, it is essential …

Banks, bankers, trust companies, federally chartered savings associations, investment companies, and other persons carrying on a banking or investment business, insurance companies and insurance associations, and executors, administrators, guardians, trustees, and other fiduciari…

The authority shall keep an accurate account of its activities and shall annually provide a report of its activities to the governor and the members of the general assembly. The report is a public record and open for inspection at the offices of the authority during normal busine…

Competitive bidding requirements of the Code or other similar requirements that may be lawfully waived are waived by this section and any requirement of competitive bidding or other restriction imposed on the procedure for award of contracts is not applicable to action taken unde…

Institutions may borrow money from the authority, make education loans and take all other actions and do things necessary or convenient to consummate the transactions contemplated under this chapter . It is lawful for the authority to establish, charge, contract for, and receive …

Sections 261A.1 through 261A.23 provide a complete, additional, and alternative method for the doing of the things authorized by this chapter and the limitations imposed by this chapter do not affect powers or rights conferred by other laws, and the issuance of obligations and re…

The authority shall publish a notice of its intention to issue obligations in a newspaper published in and with general circulation in the state. The notice shall include a statement of the maximum amount of obligations proposed to be issued, and in general terms, what receipts w…

This chapter , being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect its purpose. [ 82 Acts, ch 1031, §26 ]

1. The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of this state, for the increase of their commerce, welfare, and prosperity, and for the improvement of their health and living conditions, and as the operation and maintena…

The general assembly finds as follows: 1. The establishment of the authority is in all respects for the benefit of the people of the state of Iowa, for the improvement of their education, health and welfare, and for the promotion of the economy, which are public purposes. 2. The …

The general assembly finds: 1. For the benefit of the people of the state of Iowa, the increase of their commerce, welfare, and prosperity, and the improvement of their health and living conditions, it is essential that this and future generations of youth be given the greatest o…

It is the purpose of this subchapter to provide a measure of assistance and an alternative method of enabling institutions in the state to finance the acquisition, construction, and renovation of needed educational facilities, structures and equipment and to refund, refinance, or…

As used in this subchapter , unless the context otherwise requires: 1. “Cost” as applied to a project or any portion of a project financed under this subchapter means all or a part of the cost of construction and acquisition of land, buildings, or structures, including the cost o…

The authority is authorized to assist institutions in the constructing, financing, and refinancing of projects, and the authority may take action authorized by this subchapter . The authority is authorized to be a member of limited liability companies organized for the purpose of…

The authority may issue obligations of the authority for any of its corporate purposes as provided for in this subchapter including the issuing of obligations to finance projects to be leased to an institution, and fund or refund the obligations pursuant to this subchapter . 85 A…

The authority may make loans to an institution for the cost of a project or in anticipation of the receipt of tuition by the institution in accordance with an agreement between the authority and the institution, except that a loan for the cost of a project shall not exceed the to…

The authority may issue obligations and make loans to an institution or another entity if the project is to be leased to an institution or may issue obligations to finance projects to be leased by the authority to an institution and refund, refinance, or reimburse outstanding obl…

The authority may do all things necessary or convenient to carry out the purposes of this subchapter . The authority may charge to and equitably apportion among participating institutions its administrative costs and expenses incurred in the exercise of the powers and duties conf…

As used in this chapter , unless the context otherwise requires: 1. “Authority” means the Iowa higher education loan authority created by this chapter , and “members of the authority” means those persons appointed to the authority pursuant to section 261A.6 . 2. “Authority loans”…

The authority may undertake a project for two or more institutions jointly or for any combination of institutions, and may combine for financing purposes, with the consent of all of the institutions which are involved, the project and some or all future projects of any institutio…

Expenses incurred in carrying out this subchapter are payable solely from funds provided under this subchapter and a liability or obligation shall not be incurred by the authority beyond the extent to which money is provided under this subchapter . 85 Acts, ch 210, §11 ; 2017 Act…

1. The authority may provide by resolution for the issuance of obligations for the purpose of paying, refinancing, or reimbursing all or part of the cost of a project. Except to the extent payable from payments to be made on federally guaranteed securities as provided in section …

The resolution authorizing obligations or an issue of obligations may contain provisions, which shall be a part of the contract with the holders of the obligations to be authorized, as to: 1. Pledging or assigning the revenue of the project with respect to which the obligations a…

1. Obligations issued under this subchapter may be secured by a trust agreement by and between the authority and an incorporated trustee, which may be a trust company or bank having the powers of a trust company within or without the state. The trust agreement or the resolution p…

1. The authority may finance the cost of a project, refund outstanding indebtedness, or reimburse advances from an endowment or similar fund of an institution as authorized by this subchapter , by issuing its obligations pursuant to a plan of financing involving the acquisition o…

Obligations issued pursuant to this subchapter are not debts of the state or of any political subdivision of the state or a pledge of the faith and credit of the state or of any political subdivision, but the obligations are limited obligations of the authority payable solely fro…

All money received by the authority, whether as proceeds from the sale of obligations, from revenue, or otherwise, shall be deemed to be trust funds to be held and applied solely as provided in this subchapter , but prior to the time when needed for use may be invested to the ext…

1. A holder of obligations or of the coupons pertaining to obligations and the trustee under a trust agreement, except to the extent the rights given in this subchapter are restricted by the authorizing resolution or trust agreement, may, by suit, mandamus, or other proceedings, …

The state pledges to and agrees with the holders of any obligations issued under this subchapter , and with those parties who enter into contracts with the authority pursuant to this subchapter , that the state will not limit or alter the rights vested in the authority until the …

The Iowa higher education loan authority is created as a body politic and corporate. The authority is a public instrumentality and the exercise by the authority of the powers conferred by this chapter is the performance of an essential public function. The authority is attached t…

The powers granted the authority under this subchapter are in addition to the powers of the authority contained in other provisions of this chapter . All other provisions of this chapter apply to obligations issued pursuant to and powers granted the authority under this subchapte…

1. The authority consists of five members to be appointed by the governor subject to confirmation by the senate. The powers of the authority are vested in and exercised by the members of the authority. Each member of the authority shall be a resident of the state and not more tha…

The authority shall: 1. Adopt rules for the regulation of its affairs and the conduct of its business. 2. Adopt an official seal and alter the seal at pleasure. 3. Maintain an office at a place or places it designates. 4. a. Establish criteria for and guidelines encompassing the …

The authority may: 1. Sue and be sued in its own name, plead and be impleaded. 2. Employ consultants, attorneys, accountants, financial experts, loan processors, bankers, managers, and other employees and agents necessary in the authority’s judgment, and fix their compensation. 3…

Expenses incurred in carrying out this chapter are payable solely from funds provided under this chapter and, except as specifically authorized under this chapter , a liability shall not be incurred by the authority beyond the extent to which moneys have been provided under this …