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28j-13
28J.13 ANNUAL BUDGET -- USE OF RENTS AND CHARGES.
The board shall annually prepare a budget for the port authority.
Revenues received by the port authority shall be used for the general
expenses of the port authority and to pay interest, amortization, and
retirement charges on money borrowed. Except as provided in section
28J.26, if there remains, at the end of any fiscal year, a surplus of
such funds after providing for the above uses, the board shall pay
such surplus into the general funds of the political subdivisions
comprising the port authority as agreed to by the subdivisions. Section History: Recent Form
2005 Acts, ch 150, §101
