262A.8 - STUDENT FEES TO PAY BONDS.
262A.8 STUDENT FEES TO PAY BONDS.
Whenever bonds are issued by the state board of regents, it shall
be the duty of said board to establish, impose, and collect student
fees and charges at the institution on behalf of which such bonds are
issued, and to adjust such student fees and charges from time to
time, in order always to provide amounts which, together with the
institutional income, will be sufficient to pay the principal of and
interest on such bonds as the same become due and to maintain a
reserve therefor, and said board is authorized to pledge a sufficient
amount of the student fees and charges and institutional income
received by such institution for this purpose. Student fees and
charges and institutional income received by one institution shall
not be used to discharge bonds issued for or on account of another
institution. All bonds issued under the terms of this chapter shall
be exempt from taxation by the state of Iowa and the interest thereon
shall be exempt from the state income tax. Section History: Early Form
[C71, 73, 75, 77, 79, 81, § 262A.8]