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12a-6
12A.6 PLEDGE OF FUNDS.
1. Any amounts authorized to be pledged as security for bonds may
be held in separate and distinct funds in the state treasury, unless
otherwise specified in the authorizing documents. Moneys so held
shall not be subject to appropriation for any other purpose by the
general assembly, but shall be used only for debt service on the
bonds and other amounts as set forth in the authorizing documents.
The treasurer of state may act as custodian of the funds and disburse
moneys contained in the funds as directed by the authorizing
documents.
2. Moneys in any fund pledged as security for bonds are not
subject to section 8.33. Notwithstanding section 12C.7, subsection
2, interest or earnings on moneys in the funds shall be credited to
the applicable fund. Section History: Recent Form
2007 Acts, ch 133, §6; 2008 Acts, ch 1065, §6
