Iowa Code 257B.1A – Permanent fund
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The permanent school fund, the interest of which only can be appropriated for school purposes, shall consist of:
1. Five percent of the net proceeds of the public lands of the state.
Terms Used In Iowa Code 257B.1A
- Intestate: Dying without leaving a will.
- School: means an agency of the state or political subdivision of the state, individual, partnership, company, firm, society, trust, association, corporation, or any combination which meets any of the following criteria:a. See Iowa Code 261B.2
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
2. The proceeds of the sale of the five hundred thousand acres of land granted the state under the eighth section of an Act of Congress passed September 4, 1841, entitled: “An Act to appropriate the proceeds of all sales of public lands, and to grant pre-emption rights”.3. The proceeds of all intestate estates escheated to the state.4. The proceeds of the sales of the sixteenth section in each township, or lands selected in lieu thereof.5. All other moneys by law credited to the permanent school fund.