262.39 - NATURE OF OBLIGATION -- DISCHARGE.
262.39 NATURE OF OBLIGATION -- DISCHARGE.
No obligation created hereunder shall ever be or become a charge
against the state of Iowa but all such obligations, including
principal and interest, shall be payable solely:
1. From the net rents, profits, and income arising from the
property so pledged or mortgaged,
2. From the net rents, profits, and income which has not been
pledged for other purposes arising from any other dormitory or like
improvement under the control and management of said board, or
3. From the income derived from gifts and bequests made to the
institutions under the control of said board for dormitory purposes.
Section History: Early Form
[C27, 31, 35, § 3945-a5; C39, § 3945.5; C46, 50, 54, 58, 62,
66, 71, 73, 75, 77, 79, 81, § 262.39]
Referred to in § 262.34B, 262.40, 262A.2