Iowa Code 384.86 – Pledge valid and effective
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 384.86
- and: includes the disjunctive "or" and the use of the disjunctive "or" includes the conjunctive "and" unless the context clearly indicates otherwise. See Iowa Code 384.23
- City enterprise: means any of the following, including the real estate, fixtures, equipment, accessories, appurtenances, and all property necessary or useful for the operation of any of the following:a. See Iowa Code 384.24
- City utility: means all or part of a waterworks, gasworks, sanitary sewage system, storm water drainage system, electric light and power plant and system, heating plant, cable communication or television system, telephone or telecommunications systems or services offered separately or combined with any system or service specified in this subsection or authorized by other law, any of which are owned by a city, including all land, easements, rights-of-way, fixtures, equipment, accessories, improvements, appurtenances, and other property necessary or useful for the operation of the utility. See Iowa Code 362.2
- Combined city enterprise: means two or more city enterprises combined and operated as a single enterprise. See Iowa Code 384.80
- Combined utility system: means two or more city utilities owned by a single city, and combined and operated as a single system. See Iowa Code 384.80
- Net revenues: means gross revenues less operating expenses. See Iowa Code 384.80
The pledge of any net revenues of a city utility, combined utility system, city enterprise, or combined city enterprise is valid and effective as to all persons and other governmental bodies when it becomes valid and effective between the city and the holders of the revenue bonds or pledge orders.