262A.6 - FORM AND CONDITION OF BONDS.
262A.6 FORM AND CONDITION OF BONDS.
Such bonds 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 and denominations, may 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, including the establishment of reserves,
all as may be provided by the resolution of the board authorizing the
issuance of the bonds. In addition to the estimated cost of
construction, including site costs, the cost of the project may
include interest upon the bonds during construction and for six
months after the estimated completion date, the compensation of a
fiscal agent or adviser, engineering, architectural, administrative
and legal expenses and provision for contingencies. Such bonds shall
be executed by the president of the state board of regents and
attested by the executive director, secretary or other official
thereof performing the duties of executive director, and the coupons
thereto attached shall be executed with the original or facsimile
signatures of said president, executive director, secretary or other
official; provided, however, that the facsimile signature of either
of such officers executing such bonds may be imprinted on the face of
the bonds in lieu of the manual signature of such officer, but at
least one of the signatures appearing on the face of each bond shall
be a manual signature. Any bonds 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 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 student fees and charges
and institutional income received by such institution as hereinbefore
provided, and that it does not constitute a debt of or charge against
the state of Iowa within the meaning or application of any
constitutional or statutory limitation or provision. The issuance of
such bonds 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. Section History: Early Form
[C71, 73, 75, 77, 79, 81, § 262A.6] Section History: Recent Form
2006 Acts, ch 1051, §8