Statutes > Iowa Statutes > Title 1 - State Sovereignty and Management > Subtitle 4 - Executive Branch > CHAPTER 12C - DEPOSIT OF PUBLIC FUNDS > 12C.10 - INVESTMENT OF FUNDS CREATED BY ELECTION.

12C.10 - INVESTMENT OF FUNDS CREATED BY ELECTION.

        12C.10  INVESTMENT OF FUNDS CREATED BY ELECTION.
         The governing council or board, who by law have control of any
      fund created by direct vote of the people, may invest any portion of
      the fund not currently needed, in investments authorized in section
      12B.10.  The treasurer of state may invest in any of the investments
      authorized for the Iowa public employees' retirement system in
      section 97B.7A except that investment in common stocks shall not be
      permitted.  Interest or earnings on such funds shall be credited as
      provided in section 12C.7, subsection 2.
         Section History: Early Form
         [C58, 62, 66, 71, 73, 75, 77, 79, 81, § 453.10]
         Section History: Recent Form
         84 Acts, ch 1230, § 15
         C93, § 12C.10
         2001 Acts, ch 68, §4, 24