262.58 - RATES AND TERMS OF BONDS OR NOTES.
262.58 RATES AND TERMS OF BONDS OR NOTES.
Such bonds or notes may bear such date or dates, may bear interest
at such rate or rates, payable semiannually, may mature at such time
or times, may be in such form, carry such registration privileges,
may be payable at such place or places, may be subject to such terms
of redemption prior to maturity with or without premium, if so stated
on the face thereof, and may contain such terms and covenants all as
may be provided by the resolution of the board authorizing the
issuance of the bonds or notes. In addition to the estimated cost of
construction, the cost of the project shall be deemed to include
interest upon the bonds or notes during construction and for six
months after the estimated completion date, the compensation of a
fiscal agent or adviser, and engineering, administrative and legal
expenses. Such bonds or notes shall be executed by the president of
the state board of regents and attested by the executive director of
the state board of regents, secretary, or other official thereof
performing the duties of the executive director of the state board of
regents, and the coupons thereto attached shall be executed with the
original or facsimile signatures of said president, executive
director, secretary, or other official. Any bonds or notes bearing
the signatures of officers in office on the date of the signing
thereof shall be valid and binding for all purposes, notwithstanding
that before delivery thereof any or all such persons whose signatures
appear thereon shall have ceased to be such officers. Each such bond
or note shall state upon its face the name of the institution on
behalf of which it is issued, that it is payable solely and only from
the net rents, profits and income derived from the operation of
residence halls or dormitories, including dining and other incidental
facilities, at such institution as hereinbefore provided, and that it
does not constitute a charge against the state of Iowa within the
meaning or application of any constitutional or statutory limitation
or provision. The issuance of such bonds or notes shall be recorded
in the office of the treasurer of the institution on behalf of which
the same are issued, and a certificate by such treasurer to this
effect shall be printed on the back of each such bond or note. Section History: Early Form
[C66, 71, 73, 75, 77, 79, 81, § 262.58] Section History: Recent Form
2006 Acts, ch 1051, §7; 2007 Acts, ch 126, §49
Referred to in § 262.34B, 262A.2