Iowa Code 509A.5 – Fund under control of governing body — interest earnings of certain funds
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1. The fund for each plan shall be under the control and shall be expended under the directions of the governing body and shall be used solely for the purpose of administering and carrying out the provisions of the plan adopted by the governing body.
Terms Used In Iowa Code 509A.5
- 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. Any interest earnings from investments or time deposits of the funds under the control of the state executive council shall be deposited to the credit of these funds.