Iowa Code 262A.8 – Student fees to pay bonds
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Terms Used In Iowa Code 262A.8
- Board: shall mean the state board of regents. See Iowa Code 262A.2
- Bonds: shall mean revenue bonds which are payable solely and only from student fees and charges and institutional income received by the institution at which the project is being undertaken. See Iowa Code 262A.2
- Institutional income: shall mean income received by an institution from sources other than the following:a. See Iowa Code 262A.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
- Student: means a person who enrolls in or seeks to enroll in a course of instruction offered or conducted by a school. See Iowa Code 261B.2
- Student fees and charges: shall mean all tuitions, fees, and charges for general or special purposes levied against and collected from students attending the institutions except rates, fees, rentals, or charges imposed and collected under any of the following provisions:
a. See Iowa Code 262A.2Whenever bonds are issued by the state board of regents, it shall be the duty of said board to establish, impose, and collect student fees and charges at the institution on behalf of which such bonds are issued, and to adjust such student fees and charges from time to time, in order always to provide amounts which, together with the institutional income, will be sufficient to pay the principal of and interest on such bonds as the same become due and to maintain a reserve therefor, and said board is authorized to pledge a sufficient amount of the student fees and charges and institutional income received by such institution for this purpose. Student fees and charges and institutional income received by one institution shall not be used to discharge bonds issued for or on account of another institution. All bonds issued under the terms of this chapter shall be exempt from taxation by the state of Iowa and the interest thereon shall be exempt from the state income tax.