Iowa Code 24.21 – Transfer of inactive funds
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 24.21
- certifying board: shall mean any public body which has the power or duty to certify any tax to be levied or sum of money to be collected by taxation. See Iowa Code 24.2
- levying board: shall mean board of supervisors of the county and any other public body or corporation that has the power to levy a tax. See Iowa Code 24.2
- Municipality: means a public body or corporation that has power to levy or certify a tax or sum of money to be collected by taxation, except a county, city, drainage district, township, or road district. See Iowa Code 24.2
- property: includes personal and real property. See Iowa Code 4.1
Subject to the provisions of any law relating to municipalities, when the necessity for maintaining any fund of the municipality has ceased to exist, and a balance remains in said fund, the certifying board or levying board, as the case may be, shall so declare by resolution, and upon such declaration, such balance shall forthwith be transferred to the fund or funds of the municipality designated by such board, unless other provisions have been made in creating such fund in which such balance remains. In the case of a special fund created by a city or a county under section 403.19, such balance remaining in the fund shall be allocated to and paid into the funds for the respective taxing districts as taxes by or for the taxing district into which all other property taxes are paid.