257B.9 - CASH OR COLLATERAL SECURITY.
257B.9 CASH OR COLLATERAL SECURITY.
When, in the judgment of the board of supervisors, school lands
held under section 257B.1A are of such a character that a sale upon
partial credit would be unsafe or incompatible with the interest of
the permanent school fund, and especially in the case of timbered
lands, the board of supervisors may require the entire purchase money
in advance; or if the board sells the land upon a partial credit, it
shall require good collateral security for the payment of the part
upon which credit is given. Section History: Early Form
[R60, § 1974; C73, § 1853; C97, § 2845; C24, 27, 31, 35, 39, §
4477; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 302.9]
Section History: Recent Form
83 Acts, ch 185, § 12, 62
C93, § 257B.9