257B.40 - INTEREST CHARGED TO COUNTIES.
257B.40 INTEREST CHARGED TO COUNTIES.
The director of the department of administrative services shall
also, on the first day of January, charge to each county having
permanent school funds under its control, interest thereon at the
rate of three percent per annum for the preceding year, or such part
thereof as such funds shall have been in the control of the county,
which shall be taken as the whole amount of interest due from such
county. All interest collected above the three percent charged by
the state shall be transferred to the general county fund. Section History: Early Form
[C73, § 1882; C97, § 2855; S13, § 2855; C24, 27, 31, 35, 39, §
4507; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 302.40]
Section History: Recent Form
C93, § 257B.40
2003 Acts, ch 145, §286