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12-75
12.75 PROJECTS.
1. The vision Iowa board may undertake a project for two or more
applicants jointly or for any combination of applicants, and may
combine for financing purposes, with the consent of all of the
applicants which are involved, the project and some or all future
projects of any applicant, and sections 12.71, 12.72, and 12.74, this
section, and sections 12.76 and 12.77 apply to and for the benefit of
the vision Iowa board and the joint applicants. However, the money
set aside in a fund or funds pledged for any series or issue of bonds
or notes shall be held for the sole benefit of the series or issue
separate and apart from money pledged for another series or issue of
bonds or notes of the treasurer of state. To facilitate the
combining of projects, bonds or notes may be issued in series under
one or more resolutions or trust agreements and may be fully
open-ended, thus providing for the unlimited issuance of additional
series, or partially open-ended, limited as to additional series.
2. For purposes of this section, "applicant" means a city or
county or public organization applying for financial assistance under
the vision Iowa program established in section 15F.302. Section History: Recent Form
2000 Acts, ch 1174, §18
Referred to in § 12.77
