Iowa Code 74.7 – Endorsement of interest
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Iowa Code 74.7
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
When an obligation which legally draws interest is paid, the treasurer shall endorse upon it the date of payment, and the amount of interest paid. The treasurer shall enter into the records maintained under section 74.3 or 331.554, subsection 5, paragraph “b” as applicable, the date of payment and the amount of interest paid.