262A.10 - BONDS NOT STATE OBLIGATION.

        262A.10  BONDS NOT STATE OBLIGATION.
         Under no circumstances shall any bonds issued under the terms of
      this chapter be or become or be construed to constitute a debt of or
      a charge against the state of Iowa within the purview of any
      constitutional or statutory limitation or provision.  No taxes,
      appropriations, or other funds of the state of Iowa may be pledged
      for or used to pay such bonds or the interest thereon but any such
      bonds shall be payable solely and only as to both principal and
      interest from the student fees and charges and institutional income
      received by the institutions of higher learning under the control of
      the state board of regents as provided in this chapter, and the sole
      remedy for any breach or default of the terms of any such bonds or
      proceedings for their issuance shall be a proceeding either in law or
      in equity by suit, action, or mandamus to enforce and compel
      performance of the duties required by this chapter and the terms of
      the resolution under which such bonds are issued.  
         Section History: Early Form
         [C71, 73, 75, 77, 79, 81, § 262A.10]