262.48 - BORROWING MONEY AND PLEDGE OF REVENUE.
262.48 BORROWING MONEY AND PLEDGE OF REVENUE.
In carrying out the above powers said board may:
1. Borrow money on the credit of the income and revenues to be
derived from the operation or use of the building, structure,
facility, area or improvement and from fees or charges made by said
board to students for whom such facilities are made available and to
issue notes, bonds, or other evidence of indebtedness in anticipation
of the collection of such income, revenues, fees and charges.
2. Mortgage any real estate so acquired and the improvements
erected thereon in order to secure necessary loans.
3. Pledge the rents, profits and income received from any such
property for the discharge of the indebtedness.
4. Pledge the proceeds of all fees and charges to students
attending the institution for the use or availability of such
buildings, structures, areas or facilities for the discharge of the
indebtedness. Section History: Early Form
[C62, 66, 71, 73, 75, 77, 79, 81, § 262.48]
Referred to in § 262.34B, 262A.2, 265.3