15A.8 - LOANS PAYABLE FROM NEW JOBS CREDIT FROM WITHHOLDING.
15A.8 LOANS PAYABLE FROM NEW JOBS CREDIT FROM
WITHHOLDING.
1. As an additional means to provide moneys for the payment of
the costs of a new jobs training project or multiple projects under
chapter 260E and this chapter, a community college may make an
advance or loan, including an interfund transfer or a loan from
moneys on hand and legally available, to be paid from the same
sources and secured in the same manner as certificates described in
sections 15A.7 and 260E.6.
2. Revenues from a job training agreement received prior to the
completion by a business of its repayment obligation for a project
and not pledged to certificates, loans, or advances, and not
necessary for the payment of principal and interest maturing on such
certificates, loans, or advances, may be applied by the community
college to the reduction of any other outstanding certificates,
loans, or advances. Section History: Recent Form
98 Acts, ch 1225, §22
Referred to in §422.16A