Iowa Code 468.561 – Liens unimpaired
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Terms Used In Iowa Code 468.561
- district: means a district defined by a county and one or more cities within the county pursuant to an agreement entered into by the county and cities in accordance with chapter 28E and this part with respect to drainage improvements which the county and cities determine benefit the property located in the cities and the designated unincorporated area of the county. See Iowa Code 468.585
- Lien: A claim against real or personal property in satisfaction of a debt.
- Proceeds: includes whatever is received when collateral or proceeds are sold, exchanged, collected, or otherwise disposed of. See Iowa Code 462A.2
When drainage refunding bonds are issued, nothing in this part shall be construed as impairing the lien of any unpaid drainage assessments or installments in the drainage district, the time of payment of which is not extended, nor shall this part be construed as impairing the priority of the lien of any unpaid drainage assessments or installments nor the right, duty, and power of the officers authorized by law to levy, collect, and apply the proceeds of the assessments or installments to the payment of outstanding drainage bonds issued in anticipation of the collection of the assessments or installments.