reglab/housing_qa huggingface dataset:
IA Code § 261A.1 (2021)
2021 Iowa Code|Title VII - EDUCATION AND CULTURAL AFFAIRS|Chapter 261A - HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)|Section 261A.1 - Short title and citation.

261A.1 Short title and citation.   This chapter may be cited as the “Iowa Higher Education Loan Authority Act”.  [82 Acts, ch 1031, §1]  Referred to in §261A.24
IA Code § 261A.2 (2021)
2021 Iowa Code|Title VII - EDUCATION AND CULTURAL AFFAIRS|Chapter 261A - HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)|Section 261A.2 - Declaration of purpose.

261A.2 Declaration of purpose.   It is declared that for the benefit of the people of the state of Iowa, the conduct and increase of their commerce, the protection and enhancement of their welfare, the development of continued prosperity and the improvement of their health and living conditions, it is essential that this and future generations of youth be given the fullest opportunity to learn and to develop their intellectual and mental capacities and skills; that to achieve these ends it is of the utmost importance that students attending institutions of higher education located in Iowa have reasonable financial alternatives to enhance their access to such institutions; that reasonable financial access to institutions of higher education will assist youth in achieving the optimum levels of learning and development of their intellectual and mental capacities and skills; that it is the purpose of this chapter to provide a measure of assistance and an alternative method to enable students and the families of students attending institutions of higher education located in Iowa to appropriately and prudently finance the cost or a portion of the cost of higher education; and that it is the intent of this chapter to supplement federal guaranteed higher education loan programs, other student loan programs, and grant or scholarship programs to provide the needed additional options for the financing of a student’s higher education in execution of the public policy set forth above.  [82 Acts, ch 1031, §2]  Referred to in §261A.24
IA Code § 261A.3 (2021)
2021 Iowa Code|Title VII - EDUCATION AND CULTURAL AFFAIRS|Chapter 261A - HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)|Section 261A.3 - Legislative findings.

261A.3 Legislative findings.   The general assembly finds as follows:   1. The establishment of the authority is in all respects for the benefit of the people of the state of Iowa, for the improvement of their education, health and welfare, and for the promotion of the economy, which are public purposes.   2. The authority will be performing an essential governmental function in the exercise of the powers and duties conferred upon it by this chapter.   3. There exists a serious problem in this state regarding the ability of students to obtain financing for the cost of education beyond the high school level.   4. Escalating costs of securing such an education have contributed to the difficulties faced by students in attempting to finance an education.   5. Without public action as contemplated by this chapter, many students will be forced to postpone or abandon plans for obtaining additional education.   6. It is in the interests and welfare of the citizens of the state to provide a means for assisting students to continue their education.   7. Without public action as contemplated by this chapter, the inability to obtain educational financing will result in declining enrollments at institutions of higher education.   8. It is necessary to create a higher education loan authority to encourage the investment of private capital in the provision of funds for the financing of student loans.   9. All of the purposes stated in this section are public purposes and uses for which public moneys may be borrowed, expended, advanced, loaned, or granted.  [82 Acts, ch 1031, §3]  Referred to in §261A.24
IA Code § 261A.5 (2021)
2021 Iowa Code|Title VII - EDUCATION AND CULTURAL AFFAIRS|Chapter 261A - HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)|Section 261A.5 - Creation as public instrumentality.

261A.5 Creation as public instrumentality.   The Iowa higher education loan authority is created as a body politic and corporate. The authority is a public instrumentality and the exercise by the authority of the powers conferred by this chapter is the performance of an essential public function. The authority is attached to the college student aid commission for administrative purposes.  [82 Acts, ch 1031, §5]  86 Acts, ch 1245, §1455; 90 Acts, ch 1253, §122  Referred to in §261A.24
IA Code § 261A.8 (2021)
2021 Iowa Code|Title VII - EDUCATION AND CULTURAL AFFAIRS|Chapter 261A - HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)|Section 261A.8 - Powers of authority.

261A.8 Powers of authority.   The authority may:   1. Sue and be sued in its own name, plead and be impleaded.   2. Employ consultants, attorneys, accountants, financial experts, loan processors, bankers, managers, and other employees and agents necessary in the authority’s judgment, and fix their compensation.   3. When refunding obligations are issued to refund obligations, the proceeds of which were used to make authority loans, reduce the amount it is owed by the institutions which had received authority loans from the proceeds of the refunded obligations. The institutions may use this reduced amount to reduce the amount of interest being paid on education loans which the institutions had made pursuant to the authority loans from the proceeds of the refunded obligations.  [82 Acts, ch 1031, §8]  Referred to in §261A.24
IA Code § 261A.9 (2021)
2021 Iowa Code|Title VII - EDUCATION AND CULTURAL AFFAIRS|Chapter 261A - HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)|Section 261A.9 - Expenses of authority — limitation of liability.

261A.9 Expenses of authority — limitation of liability.   Expenses incurred in carrying out this chapter are payable solely from funds provided under this chapter and, except as specifically authorized under this chapter, a liability shall not be incurred by the authority beyond the extent to which moneys have been provided under this chapter.  [82 Acts, ch 1031, §9]  Referred to in §261A.24
IA Code § 261A.10 (2021)
2021 Iowa Code|Title VII - EDUCATION AND CULTURAL AFFAIRS|Chapter 261A - HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)|Section 261A.10 - Acquisition of moneys, endowments, properties, and guarantees.

261A.10 Acquisition of moneys, endowments, properties, and guarantees.   The authority may establish guidelines relating to the deposits of moneys, endowments, or properties by institutions which would provide prudent security for education loan funding programs, authority loans, education loans, or for obligations and may establish guidelines relating to guarantees of or contracts to purchase education loans or obligations by the institutions or by financial institutions or others. A default reserve fund may be established for each series or issue of obligations. The authority may receive moneys, endowments, properties, and guarantees it deems appropriate and, if necessary, may take title in the name of the authority or in the name of a participating institution or a trustee.  [82 Acts, ch 1031, §10]  Referred to in §261A.24
IA Code § 261A.11 (2021)
2021 Iowa Code|Title VII - EDUCATION AND CULTURAL AFFAIRS|Chapter 261A - HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)|Section 261A.11 - Conveyance of loan funding deposit after payment of principal and interest.

261A.11 Conveyance of loan funding deposit after payment of principal and interest.   When the principal of and interest on obligations of the authority issued to finance the cost of an education loan financing program or programs, including any refunding obligations issued to refund and refinance the obligations, have been fully paid and retired or when adequate provision has been made to fully pay and retire the obligations of the authority, and all other conditions of the bond resolution have been satisfied and the lien created by the bond resolution has been released in accordance with its provisions, the authority shall promptly perform functions and execute deeds and conveyances necessary and required to convey remaining moneys, properties, and other assets comprising loan funding deposits to the institutions which furnished the loan funding deposits in proportion to the amounts furnished by the respective institutions.  [82 Acts, ch 1031, §11]  Referred to in §261A.24
IA Code § 261A.13 (2021)
2021 Iowa Code|Title VII - EDUCATION AND CULTURAL AFFAIRS|Chapter 261A - HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)|Section 261A.13 - Trust agreement to secure obligations.

261A.13 Trust agreement to secure obligations.   In the discretion of the authority, obligations may be secured by a trust agreement by and between the authority and a corporate trustee or trustees, which may be a trust company or bank located in the state of Iowa that has the powers of a trust company. The bond resolution shall pledge the revenues to be received by the authority, may contain provisions for protecting and enforcing the rights and remedies of the holders of obligations as reasonable and proper and not in violation of law, including provisions that have been authorized to be included in any bond resolution of the authority, and may restrict the individual right of action by holders of obligations. A trust agreement may contain other provisions the authority deems reasonable and proper for the security of the holders of obligations. Expenses incurred in carrying out the trust agreement may be treated as a part of the cost of the operation of an education loan program.  [82 Acts, ch 1031, §13]  Referred to in §261A.24
IA Code § 261A.14 (2021)
2021 Iowa Code|Title VII - EDUCATION AND CULTURAL AFFAIRS|Chapter 261A - HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)|Section 261A.14 - Payment of obligations — nonliability of state.

261A.14 Payment of obligations — nonliability of state.   1. Obligations are obligations of the authority only, and not of the state of Iowa. Each obligation shall state upon its face that it represents and constitutes a debt of the authority, but not of the state of Iowa within the meaning of any constitutional or statutory limitation, and that it does not constitute a pledge of the full faith and credit of the authority or of the state of Iowa. The obligations shall not grant to the owners or holders of the obligations the right to have the authority or the state levy taxes or appropriate funds for the payment of the principal or interest on the obligations. The obligations are payable, and shall state that they are payable, solely from the revenues pledged for their payment in accordance with the bond resolution.   2. This chapter does not authorize the authority or any department, board, commission, or other agency to create an obligation of the state within the meaning of the Constitution or laws of the State of Iowa.  [82 Acts, ch 1031, §14]  2006 Acts, ch 1010, §80  Referred to in §261A.24
IA Code § 261A.15 (2021)
2021 Iowa Code|Title VII - EDUCATION AND CULTURAL AFFAIRS|Chapter 261A - HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)|Section 261A.15 - Pledge of revenues.

261A.15 Pledge of revenues.   1. The authority shall fix, revise, charge, and collect fees and may contract with a person to do so. Each agreement entered into by the authority with an institution shall provide that the fees and other amounts payable by the institution of higher education with respect to a program of the authority are sufficient at all times to meet all of the following:   a. To pay its share of the administrative costs and expenses of the program.   b. To pay the principal of, the premium, if any, and the interest on outstanding obligations of the authority, issued in respect of the program to the extent that other revenues of the authority pledged for the payment of the obligations are insufficient to pay the obligations as they become due and payable.   c. To create and maintain reserves which may but need not be required or provided for in the bond resolution relating to the obligations of the authority.   d. To establish and maintain whatever education loan servicing, control, or audit procedures are deemed by the authority to be necessary to the prudent operation of the authority.   2. The authority shall pledge the revenues from each program as security for the issue of obligations relating to the program. A pledge is valid and binding from the time when the pledge is made, the revenues pledged by the authority are immediately subject to the lien of the pledge without physical delivery of the pledge or further act, and the lien of the pledge is valid and binding against all parties having claims of any kind in tort, contract, or otherwise against the authority or a participating institution, irrespective of whether the parties have notice of the lien. The bond resolution and a financing statement, continuation statement, or other instrument by which the authority’s interest in revenues is assigned need not be filed or recorded in public records in order to perfect the lien against third parties except that a copy of it shall be filed in the records of the authority and with the treasurer of state.  [82 Acts, ch 1031, §15]  2010 Acts, ch 1061, §180  Referred to in §261A.24
IA Code § 261A.16 (2021)
2021 Iowa Code|Title VII - EDUCATION AND CULTURAL AFFAIRS|Chapter 261A - HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)|Section 261A.16 - Funds for sales of obligations as trust funds — application of funds.

261A.16 Funds for sales of obligations as trust funds — application of funds.   Moneys received by or on behalf of the authority under this chapter, whether as proceeds from the sale of obligations or as revenues, are trust funds to be held and applied as provided in this chapter. An officer with whom, or a bank or trust company with which the moneys are deposited shall act as trustee of the moneys and shall hold and apply the moneys for the purposes of this chapter, subject to rules that this chapter and the bond resolution authorizing the obligations of an issue may provide.  [82 Acts, ch 1031, §16]  Referred to in §261A.24
IA Code § 261A.17 (2021)
2021 Iowa Code|Title VII - EDUCATION AND CULTURAL AFFAIRS|Chapter 261A - HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)|Section 261A.17 - Rights of holders of obligations.

261A.17 Rights of holders of obligations.   A holder of obligations or a trustee under a trust agreement entered into pursuant to this chapter, except to the extent that their rights are restricted by a bond resolution, may, by any suitable form of legal proceedings, protect and enforce rights under the laws of this state or granted by the bond resolution, may enjoin unlawful activities, and if there is a default on the payment of the principal of, premiums, if any, and interest on an obligation or in the performance of a covenant or agreement on the part of the authority in the bond resolution, may apply to the district court to appoint a receiver to administer and operate the education loan program, the revenues of which are pledged to the payment of principal of, premium, if any, and interest on the obligations, with full power to pay, and to provide for payment of principal of, premium, if any, and interest on the obligations, and with powers, subject to the direction of the court, as permitted by law and accorded to receivers, excluding the power to pledge additional revenues of the authority to the payment of the principal, premium, and interest.  [82 Acts, ch 1031, §17]  Referred to in §261A.24
IA Code § 261A.18 (2021)
2021 Iowa Code|Title VII - EDUCATION AND CULTURAL AFFAIRS|Chapter 261A - HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)|Section 261A.18 - Refunding bonds — purpose — proceeds — investment of proceeds.

261A.18 Refunding bonds — purpose — proceeds — investment of proceeds.   1. The authority may issue its obligations for the purpose of refunding obligations then outstanding, including the payment of a redemption premium on the obligations and interest accrued or to accrue to the earliest or a subsequent date of redemption, purchase, or maturity of the obligations.   2. The proceeds of obligations issued for the purpose of refunding outstanding obligations may, in the discretion of the authority, be applied to the purchase or retirement at maturity or redemption of the outstanding obligations either on their earliest or a subsequent redemption date or upon the purchase or at the maturity of the obligations and may, pending an application, be placed in escrow to be applied to the purchase or retirement at maturity or redemption on a date determined by the authority.   3. Any escrowed proceeds, pending their use, may be invested and reinvested in direct obligations of the United States of America, maturing at times as appropriate to assure the prompt payment of the principal of and interest and redemption premium, if any, on the outstanding obligations to be refunded. The interest, income, and profits, if any, earned or realized on an investment may also be applied to the payment of the outstanding obligations to be refunded. After the terms of the escrow have been fully satisfied and carried out, a balance of the proceeds and interest, income, and profits, if any, earned or realized on the investments shall be returned to the institution of higher education for use by it in any lawful manner.   4. Refunding obligations are subject to this chapter in the same manner and to the same extent as other obligations issued pursuant to this chapter.  [82 Acts, ch 1031, §18]  Referred to in §261A.19, 261A.24
IA Code § 261A.19 (2021)
2021 Iowa Code|Title VII - EDUCATION AND CULTURAL AFFAIRS|Chapter 261A - HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)|Section 261A.19 - Investment of funds of authority.

261A.19 Investment of funds of authority.   Except as otherwise provided in section 261A.18, subsection 3, the authority may invest funds in direct obligations of the United States of America; obligations for which the timely payment of principal and interest is fully guaranteed by the United States of America; obligations of the federal intermediate credit banks, federal banks for cooperatives, federal land banks, federal home loan banks, federal national mortgage association, government national mortgage association and the student loan marketing association; certificates of deposit or time deposits constituting direct obligations of a bank as defined by chapter 524; and in withdrawable capital accounts or deposits of federal chartered savings associations which are insured by the federal deposit insurance corporation. However, investments may be made only in certificates of deposit or time deposits in banks which are insured by the federal deposit insurance corporation if then in existence. Securities authorized in this section may be purchased at the offering or market price at the time of the purchase. The securities purchased shall mature or be redeemable on dates prior to the time when, in the judgment of the authority, the funds invested will be required for expenditure. The judgment of the authority as to the time when funds will be required for expenditure or be redeemable is final.  [82 Acts, ch 1031, §19]  2012 Acts, ch 1017, §66  Referred to in §261A.24
IA Code § 261A.20 (2021)
2021 Iowa Code|Title VII - EDUCATION AND CULTURAL AFFAIRS|Chapter 261A - HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)|Section 261A.20 - Obligations as legal investments.

261A.20 Obligations as legal investments.   Banks, bankers, trust companies, federally chartered savings associations, investment companies, and other persons carrying on a banking or investment business, insurance companies and insurance associations, and executors, administrators, guardians, trustees, and other fiduciaries may legally invest sinking funds, moneys, or other funds belonging to them or within their control in obligations of the authority.  [82 Acts, ch 1031, §20]  2012 Acts, ch 1017, §67  Referred to in §261A.24
IA Code § 261A.21 (2021)
2021 Iowa Code|Title VII - EDUCATION AND CULTURAL AFFAIRS|Chapter 261A - HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)|Section 261A.21 - Annual report.

261A.21 Annual report.   The authority shall keep an accurate account of its activities and shall annually provide a report of its activities to the governor and the members of the general assembly. The report is a public record and open for inspection at the offices of the authority during normal business hours. The report shall include all of the following:   1. Summaries of applications by institutions of higher education for education loan financing assistance presented to the authority during the fiscal year.   2. Summaries of education loan programs which have received any form of financial assistance from the authority during the year.   3. The nature and amount of all assistance.   4. A report concerning the financial condition of the various education loan series portfolios.   5. Projected activities of the authority for the next fiscal year, including projections of the total amount of financial assistance anticipated and the amount of obligations that will be necessary to provide the projected level of assistance during the next fiscal year.  [82 Acts, ch 1031, §21]  Referred to in §261A.24
IA Code § 261A.22 (2021)
2021 Iowa Code|Title VII - EDUCATION AND CULTURAL AFFAIRS|Chapter 261A - HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)|Section 261A.22 - Waiver of competitive bidding.

261A.22 Waiver of competitive bidding.   Competitive bidding requirements of the Code or other similar requirements that may be lawfully waived are waived by this section and any requirement of competitive bidding or other restriction imposed on the procedure for award of contracts is not applicable to action taken under this chapter.  [82 Acts, ch 1031, §22]  Referred to in §261A.24
IA Code § 261A.23 (2021)
2021 Iowa Code|Title VII - EDUCATION AND CULTURAL AFFAIRS|Chapter 261A - HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)|Section 261A.23 - Institution power — interest rates.

261A.23 Institution power — interest rates.   Institutions may borrow money from the authority, make education loans and take all other actions and do things necessary or convenient to consummate the transactions contemplated under this chapter. It is lawful for the authority to establish, charge, contract for, and receive any amount or rate of interest or compensation with respect to authority loans and, subject to rules adopted by the authority, for participating institutions to charge, contract for, and receive any amount or rate of interest or compensation with respect to education loans.  [82 Acts, ch 1031, §23]  Referred to in §261A.24
IA Code § 261A.24 (2021)
2021 Iowa Code|Title VII - EDUCATION AND CULTURAL AFFAIRS|Chapter 261A - HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)|Section 261A.24 - Chapter as alternative method — powers not subject to supervision or regulation.

261A.24 Chapter as alternative method — powers not subject to supervision or regulation.   Sections 261A.1 through 261A.23 provide a complete, additional, and alternative method for the doing of the things authorized by the chapter and the limitations imposed by this chapter do not affect powers or rights conferred by other laws, and the issuance of obligations and refunding obligations under this chapter need not comply with the requirements of any other law applicable to the issuance of obligations. Except as otherwise expressly provided in this chapter, the powers granted to the authority under this chapter are not subject to the supervision or regulation and do not require the approval or consent of a city or political subdivision or department, division, commission, board, body, bureau, official, or agency of a political subdivision or of the state.  [82 Acts, ch 1031, §24]  2020 Acts, ch 1063, §103  Section amended