12E.13 MONEYS OF THE AUTHORITY.
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The moneys shall be withdrawn on the order of the authority or its
designee. Deposits shall be secured in the manner determined by the
authority.
2. The auditor of state or the auditor's designee, which may
include a person hired by the auditor with the approval of the board,
may periodically examine the accounts and books, including its
receipts, disbursements, contracts, leases, sinking funds,
investments, and any other records and papers relating to its
financial standing. The authority shall pay the costs of any such
examination.
3. The authority may contract with the holders of its bonds
relating to the custody, collection, security, investment, and
payment of moneys of the authority, and relating to the moneys held
in trust or otherwise for payment of bonds, with the exception of
moneys in the tobacco settlement trust fund. Moneys held in trust or
otherwise for the payment of bonds or in any way to secure bonds and
deposits of the moneys may be secured in the same manner as moneys of
the authority, and financial institutions and trust companies may
provide security for the deposits.
4. The authority shall submit to the governor, the attorney
general, the auditor of state, the department of management, and the
legislative services agency, within thirty days of its receipt, a
copy of the report of every external examination of the books and
accounts of the authority, other than copies of the reports of
examinations of the auditor of state.
5. All moneys of the authority or moneys held by the authority
shall be invested and held in the name of the authority, whether they
are held for the benefit, security, or future payment to holders of
bonds or to the state. All such moneys and investments shall be
considered moneys and investments of the authority with the exception
of moneys in the tax-exempt bond proceeds restricted capital funds
account of the tobacco settlement trust fund which are moneys of the
state.
12E.13 MONEYS OF THE AUTHORITY.
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 moneys shall be withdrawn on the order of the authority or its
designee. Deposits shall be secured in the manner determined by the
authority.
2. The auditor of state or the auditor's designee, which may
include a person hired by the auditor with the approval of the board,
may periodically examine the accounts and books, including its
receipts, disbursements, contracts, leases, sinking funds,
investments, and any other records and papers relating to its
financial standing. The authority shall pay the costs of any such
examination.
3. The authority may contract with the holders of its bonds
relating to the custody, collection, security, investment, and
payment of moneys of the authority, and relating to the moneys held
in trust or otherwise for payment of bonds, with the exception of
moneys in the tobacco settlement trust fund. Moneys held in trust or
otherwise for the payment of bonds or in any way to secure bonds and
deposits of the moneys may be secured in the same manner as moneys of
the authority, and financial institutions and trust companies may
provide security for the deposits.
4. The authority shall submit to the governor, the attorney
general, the auditor of state, the department of management, and the
legislative services agency, within thirty days of its receipt, a
copy of the report of every external examination of the books and
accounts of the authority, other than copies of the reports of
examinations of the auditor of state.
5. All moneys of the authority or moneys held by the authority
shall be invested and held in the name of the authority, whether they
are held for the benefit, security, or future payment to holders of
bonds or to the state. All such moneys and investments shall be
considered moneys and investments of the authority with the exception
of moneys in the tax-exempt bond proceeds restricted capital funds
account of the tobacco settlement trust fund which are moneys of the
state.
12E.13 MONEYS OF THE AUTHORITY.
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 moneys shall be withdrawn on the order of the authority or its
designee. Deposits shall be secured in the manner determined by the
authority.
2. The auditor of state or the auditor's designee, which may
include a person hired by the auditor with the approval of the board,
may periodically examine the accounts and books, including its
receipts, disbursements, contracts, leases, sinking funds,
investments, and any other records and papers relating to its
financial standing. The authority shall pay the costs of any such
examination.
3. The authority may contract with the holders of its bonds
relating to the custody, collection, security, investment, and
payment of moneys of the authority, and relating to the moneys held
in trust or otherwise for payment of bonds, with the exception of
moneys in the tobacco settlement trust fund. Moneys held in trust or
otherwise for the payment of bonds or in any way to secure bonds and
deposits of the moneys may be secured in the same manner as moneys of
the authority, and financial institutions and trust companies may
provide security for the deposits.
4. The authority shall submit to the governor, the attorney
general, the auditor of state, the department of management, and the
legislative services agency, within thirty days of its receipt, a
copy of the report of every external examination of the books and
accounts of the authority, other than copies of the reports of
examinations of the auditor of state.
5. All moneys of the authority or moneys held by the authority
shall be invested and held in the name of the authority, whether they
are held for the benefit, security, or future payment to holders of
bonds or to the state. All such moneys and investments shall be
considered moneys and investments of the authority with the exception
of moneys in the tax-exempt bond proceeds restricted capital funds
account of the tobacco settlement trust fund which are moneys of the
state.
