reglab/statecodes huggingface dataset:
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12 - TREASURER OF STATE › Section 12.90 - Pledges — construction.

12.90 Pledges — construction.
1. It is the intention of the general assembly that a pledge made in respect of bonds shall be valid and binding from the time the pledge is made, that the money or property so pledged and received after the pledge by the treasurer of state shall immediately be subject to the lien of the pledge without physical delivery or further act, and that the lien of the pledge shall be valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against the treasurer of state whether or not the parties have notice of the lien.
2. Sections 12.87 through 12.89, and this section, being necessary for the welfare of this state and its inhabitants, shall be liberally construed to effect the purposes of the sections.
2009 Acts, ch 173, §4, 36; 2016 Acts, ch 1073, §4
Referred to in §12.87
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12A - UNIFORM FINANCE PROCEDURES FOR STATE-ISSUED BONDS › Section 12A.1 - Definitions.

12A.1 Definitions.
As used in this chapter, unless the context otherwise requires:
1. “Authorizing documents” means a resolution of the issuer, an indenture of trust, or any other instrument setting forth the terms and conditions of bonds issued in accordance with the provisions of this chapter.
2. “Bonds” means bonds, including refunding bonds, notes, and other obligations issued by an issuer.
3. “Enabling legislation” means legislation enabling the issuance by an issuer of bonds in accordance with the provisions of this chapter.
4. “Issuer” means the state, a department or public or quasi-public agency or instrumentality of the state, or an authority of the state, authorized and enabled to issue bonds in accordance with the provisions of this chapter.
2007 Acts, ch 133, §1; 2008 Acts, ch 1065, §1
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12A - UNIFORM FINANCE PROCEDURES FOR STATE-ISSUED BONDS › Section 12A.2 - Provisions applicable.

12A.2 Provisions applicable.
An issuer may issue bonds in accordance with the provisions of this chapter if enabling legislation enacted on or after July 1, 2007, provides that the bonds shall or may be issued in accordance with the provisions of this chapter. This chapter establishes the terms, conditions, and procedures applicable to the issuance of bonds by an issuer enabled to issue bonds under this chapter.
2007 Acts, ch 133, §2; 2008 Acts, ch 1065, §2
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12A - UNIFORM FINANCE PROCEDURES FOR STATE-ISSUED BONDS › Section 12A.3 - Special obligations.

12A.3 Special obligations.
Bonds issued under this chapter are payable solely out of the moneys, assets, or revenues pledged to the payment of the bonds pursuant to the enabling legislation and any bond reserve funds established in accordance with this chapter, and are not an obligation, indebtedness, or debt of the state or any political subdivision of the state within the meaning of any constitutional or statutory debt limitations. Bonds issued under this chapter shall contain a statement that the bonds are issued pursuant to this chapter or the enabling legislation; are payable solely from the moneys, assets, and revenues pledged for their payment and any bond reserve funds established; do not constitute an obligation, indebtedness, or debt of the state or any political subdivision of the state within the meaning of any constitutional or statutory debt limitations; and that the issuer and the state have no obligation to satisfy any deficiency or default of any payment of the bonds using any moneys, assets, or revenues other than those specifically pledged in the enabling legislation for payment of the bonds, and any bond reserve funds established by the issuer. The issuer shall not pledge the credit or taxing power of the state or any political subdivision of the state; create an obligation, indebtedness, or debt of the state or any political subdivision of the state within the meaning of any constitutional or statutory debt limitations; or make its bonds payable out of any moneys except those pledged in the enabling legislation and any bond reserve funds established by the issuer.
2007 Acts, ch 133, §3; 2008 Acts, ch 1065, §3
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12A - UNIFORM FINANCE PROCEDURES FOR STATE-ISSUED BONDS › Section 12A.5 - Reserve funds.

12A.5 Reserve funds.
1. An issuer may create and establish one or more special funds, to be known as bond reserve funds, to secure one or more issues of bonds. The issuer shall pay into each bond reserve fund any moneys appropriated and made available by the state for the purpose of that reserve fund, any proceeds of the sale of bonds to the extent provided in the authorizing documents, and any other moneys which may be legally available from any other sources and which the issuer determines to deposit in the reserve fund. All moneys held in a bond reserve fund, except as otherwise provided in this chapter, shall be used solely for the payment of the principal of bonds secured in whole or in part by the fund or other payments with respect to the bonds, the purchase or redemption of the bonds, the payment of interest on the bonds, or the payments of any redemption premium required to be paid when the bonds are redeemed prior to maturity, all in accordance with the authorizing documents.
2. Except as otherwise specified in the authorizing documents, moneys in a bond reserve fund shall not be withdrawn at any time in an amount that will reduce the amount of the fund to less than the bond reserve fund requirement established for the fund, except for the purpose of making payment as described in subsection 1. For the purposes of this chapter, “bond reserve fund requirement” means, as of any particular date of computation, the amount of moneys, provided in the authorizing documents with respect to which the fund is established. Any income or interest earned by, or incremental to, a bond reserve fund due to its investment may be transferred to other funds or accounts as provided in the authorizing documents to the extent the transfer does not reduce the amount of that bond reserve fund below its bond reserve fund requirement.
3. The issuer shall not at any time issue bonds, secured in whole or in part by a bond reserve fund if, upon the issuance of the bonds, the amount in the bond reserve fund for the bonds will be less than the bond reserve fund requirement for the fund, unless the issuer at the time of issuance of the bonds deposits in the fund from the proceeds of the bonds issued or from other legally available sources an amount which, together with the amount then in the fund, will not be less than the bond reserve fund requirement for the fund.
2007 Acts, ch 133, §5; 2008 Acts, ch 1065, §5
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12A - UNIFORM FINANCE PROCEDURES FOR STATE-ISSUED BONDS › Section 12A.6 - Pledge of funds.

12A.6 Pledge of funds.
1. Any amounts authorized to be pledged as security for bonds may be held in separate and distinct funds in the state treasury, unless otherwise specified in the authorizing documents. Moneys so held shall not be subject to appropriation for any other purpose by the general assembly, but shall be used only for debt service on the bonds and other amounts as set forth in the authorizing documents. The treasurer of state may act as custodian of the funds and disburse moneys contained in the funds as directed by the authorizing documents.
2. Moneys in any fund pledged as security for bonds are not subject to section 8.33. Notwithstanding section 12C.7, subsection 2, interest or earnings on moneys in the funds shall be credited to the applicable fund.
2007 Acts, ch 133, §6; 2008 Acts, ch 1065, §6
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12A - UNIFORM FINANCE PROCEDURES FOR STATE-ISSUED BONDS › Section 12A.7 - Authorizing documents provisions.

12A.7 Authorizing documents provisions.
The authorizing documents may contain the following provisions:
1. Pledges or assignments of the revenue of a project with respect to which the bonds are to be issued or the revenue of other property or facilities.
2. The setting aside of reserves or sinking funds, and their regulation, investment, and disposition.
3. Limitations on the use of a project, property, or facilities.
4. Limitations on the purpose to which or the investments in which the proceeds of sale of an issue of bonds then or thereafter to be issued may be applied and pledging the proceeds to secure the payment of the bonds.
5. Limitations on the issuance of additional bonds, the terms upon which additional bonds may be issued and secured, and the refunding of outstanding bonds.
6. The procedure, if any, by which the terms of any contract with the holder of a bond may be amended or abrogated, the amount of bonds may be specified for which the holders must consent to amendment or abrogation, and the manner in which the consent may be given.
7. Definitions of the acts or omissions to act which constitute a default in the duties of the issuer to holders of bonds, specifying any rights and remedies of the holders in the event of a default, and restricting the individual right of action by holders.
8. Other matters relating to the bonds as may be provided by the issuer.
2007 Acts, ch 133, §7; 2008 Acts, ch 1065, §7; 2009 Acts, ch 41, §10
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12A - UNIFORM FINANCE PROCEDURES FOR STATE-ISSUED BONDS › Section 12A.8 - Bonds secured by authorizing documents.

12A.8 Bonds secured by authorizing documents.
The authorizing documents may pledge or assign the revenue to be received for payment of the bonds or the proceeds of any contract pledged. A pledge or assignment made by the issuer pursuant to this chapter is valid and binding from the time that the pledge or assignment is made, and the revenue pledged and thereafter received by the issuer is immediately subject to the lien of the pledge or assignment without physical delivery or any further act. The lien of the pledge or assignment is valid and binding against all parties having claims of any kind in tort, contract, or otherwise against the issuer irrespective of whether the parties have notice of the lien. The authorizing documents may contain other provisions the issuer deems reasonable and proper for the security of the bond holders.
2007 Acts, ch 133, §8; 2008 Acts, ch 1065, §8
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12A - UNIFORM FINANCE PROCEDURES FOR STATE-ISSUED BONDS › Section 12A.10 - State law.

12A.10 State law.
The state reserves the right at any time to alter, amend, repeal, or otherwise change the structure, organization, programs, or activities of any issuer, including the power to terminate the issuer, except that a law shall not be enacted that impairs any obligation made pursuant to any contract entered into by the issuer with or on behalf of the holders of the bonds to the extent that any such law would contravene
Article I, section 21, of the Constitution of the State of Iowa
or Article I, section 10, of the Constitution of the United States.
2007 Acts, ch 133, §10; 2008 Acts, ch 1065, §9
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12A - UNIFORM FINANCE PROCEDURES FOR STATE-ISSUED BONDS › Section 12A.11 - Provisions controlling.

12A.11 Provisions controlling.
The powers granted issuers under this chapter are in addition to the powers of each issuer contained elsewhere in the Code. Nothing in this chapter limits the powers of an issuer to issue bonds under any other applicable provisions of the Code or to otherwise carry out its responsibilities as otherwise set forth in the Code.
2007 Acts, ch 133, §11; 2008 Acts, ch 1065, §10
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12B - SECURITY OF THE REVENUE › Section 12B.1 - Definitions.

12B.1 Definitions.
As used in this chapter, unless the context otherwise requires, “book”, “list”, “record”, or “schedule” kept by a county auditor, assessor, treasurer, recorder, sheriff, or other county officer means the county system as defined in section 445.1.
2000 Acts, ch 1148, §1
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12B - SECURITY OF THE REVENUE › Section 12B.1A - County responsible to state.

12B.1A County responsible to state.
Each county is responsible to the state for the full amount of tax levied for state purposes, excepting such amounts as are certified to be unavailable, double, or erroneous assessments.
[R60, §793; C73, §908; C97, §1453; C24, 27, 31, 35, 39, §7398; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §452.1]
C93, §12B.1
C2001, §12B.1A
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12B - SECURITY OF THE REVENUE › Section 12B.2 - Interest on warrants.

12B.2 Interest on warrants.
When interest is due and allowed by the treasurer of state on the redemption of state warrants, or by the county treasurer on the redemption of county warrants, the same shall be receipted on the warrants by the holder, with the date of the payment, and no interest shall be allowed by the department of administrative services or board of supervisors except such as is thus receipted.
[R60, §795; C73, §910; C97, §1455; C24, 27, 31, 35, 39, §7400; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §452.2]
C93, §12B.2
2003 Acts, ch 145, §286
Analogous section, §74.7
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12B - SECURITY OF THE REVENUE › Section 12B.3 - Discounting warrants.

12B.3 Discounting warrants.
If the treasurer of state or any county treasurer, personally or through another, discounts the director of the department of administrative services’ or auditor’s warrants, either directly or indirectly, the treasurer shall be guilty of a serious misdemeanor.
[R60, §796; C73, §911; C97, §1456; C24, 27, 31, 35, 39, §7401; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §452.3]
C93, §12B.3
2003 Acts, ch 145, §286; 2004 Acts, ch 1101, §11
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12B - SECURITY OF THE REVENUE › Section 12B.4 - Loans by county treasurer.

12B.4 Loans by county treasurer.
A county treasurer shall be guilty of a serious misdemeanor for loaning out, or in any manner using for private purposes, state, county, or other funds in the treasurer’s hands.
[R60, §797; C73, §912; C97, §1457; S13, §1457; C24, 27, 31, 35, 39, §7402; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §452.4]
C93, §12B.4
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12B - SECURITY OF THE REVENUE › Section 12B.5 - Loans by treasurer of state.

12B.5 Loans by treasurer of state.
The treasurer of state shall be guilty of a serious misdemeanor for loaning out, or in any manner using for private purposes, state, county, or other funds in the treasurer’s hands.
[R60, §797; C73, §912; C97, §1457; S13, §1457; C24, 27, 31, 35, 39, §7403; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §452.5]
C93, §12B.5
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12B - SECURITY OF THE REVENUE › Section 12B.6 - Certain public funds of political subdivisions.

12B.6 Certain public funds of political subdivisions.
All funds received, expended, or held by an association of elected county officers before, on, or after June 16, 2005, to implement a state-authorized program, are subject to audit by the auditor of state at the request of the general assembly’s standing committees on government oversight or the legislative council. All such funds received or held on and after July 1, 2005, shall be deposited in a fund in the office of the treasurer of state.
2005 Acts, ch 179, §98, 103; 2006 Acts, ch 1010, §175, 177; 2010 Acts, ch 1069, §4
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12B - SECURITY OF THE REVENUE › Section 12B.7 - Settlement by retiring treasurer.

12B.7 Settlement by retiring treasurer.
When a county treasurer goes out of office, the treasurer shall make a full and complete settlement with the board of supervisors, and deliver up all books, papers, moneys, and all other property pertaining to the office, to the treasurer’s successor, taking a receipt therefor.
[R60, §802; C73, §917; C97, §1461; C24, 27, 31, 35, 39, §7409; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §452.7]
C93, §12B.7
Referred to in §331.555
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12B - SECURITY OF THE REVENUE › Section 12B.8 - Supervisors to report to state auditor.

12B.8 Supervisors to report to state auditor.
The board of supervisors shall make a statement of state dues to the auditor of state, showing all charges against the treasurer during the treasurer’s term of office, and all credits made, the delinquent taxes and other unfinished business charged over to the treasurer’s successor, and the amount of money paid over to the treasurer’s successor, showing to what year and to what account the amount so paid over belongs.
[R60, §802; C73, §917; C97, §1461; C24, 27, 31, 35, 39, §7410; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §452.8]
C93, §12B.8
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12B - SECURITY OF THE REVENUE › Section 12B.9 - Correct balances.

12B.9 Correct balances.
The board of supervisors shall also see that the books of the treasurer are correctly balanced before passing into the possession and control of the treasurer-elect.
[R60, §802; C73, §917; C97, §1461; C24, 27, 31, 35, 39, §7411; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §452.9]
C93, §12B.9
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12B - SECURITY OF THE REVENUE › Section 12B.10B - Written investment policies.

12B.10B Written investment policies.
1. Political subdivisions shall approve written investment policies which incorporate the guidelines specified in sections 12B.10, 12B.10A, this section, and section 12B.10C, and any other provisions deemed necessary to adequately safeguard invested public funds.
2. The written investment policy required by section 12B.10 shall be delivered to all of the following:
a. The governing body or officer of the public entity to which the policy applies.
b. All depository institutions or fiduciaries for public funds of the public entity.
c. The auditor of the public entity.
3. The following entities are not subject to this section:
a. The public safety peace officers’ retirement system governed by chapter 97A.
b. The Iowa public employees’ retirement system governed by chapter 97B.
c. The Iowa finance authority governed by chapter 16.
d. The state board of regents governed by chapter 262.
e. A pension and annuity retirement system governed by chapter 294.
f. The statewide fire and police retirement system governed by chapter 411.
g. The judicial retirement system governed by chapter 602, article 9.
h. The deferred compensation plan established by the executive council pursuant to section 509A.12.
i. The tobacco settlement authority governed by chapter 12E.
j. Municipal utility retirement systems governed under chapter 412.
92 Acts, ch 1156, §18; 96 Acts, ch 1187, §77; 97 Acts, ch 185, §3; 2000 Acts, ch 1208, §22, 25; 2001 Acts, ch 102, §2; 2010 Acts, ch 1061, §4
Referred to in §12B.14, 28E.5, 331.303
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12B - SECURITY OF THE REVENUE › Section 12B.10C - Regulation of public funds custodial agreements.

12B.10C Regulation of public funds custodial agreements.
1. The treasurer of state, in consultation with the attorney general, shall adopt rules under chapter 17A requiring the inclusion in public funds custodial agreements of any provisions necessary to prevent loss of public funds.
2. As used in this section, “public funds custodial agreement” means any contractual arrangement pursuant to which one or more persons, including but not limited to investment advisors, investment companies, trustees, agents and custodians, are authorized to act as a custodian of or to designate another person to act as a custodian of public funds or any security or document of ownership or title evidencing public funds investments other than custodial agreements between an open-end management investment company registered with the federal securities and exchange commission under the federal Investment Company Act of 1940, 15 U.S.C. §80a-1 and a custodian bank.
3. As used in this section“public funds” means public funds as defined in section 12C.1. However, this section does not apply to public funds that are invested under the provisions of a resolution or indenture for the issuance of bonds, notes, certificates, warrants, or other evidences of indebtedness. To the extent that a provision of this section conflicts with federal law, it shall be construed to avoid the conflict.
4. The following entities are not subject to this section:
a. The public safety peace officers’ retirement system governed by chapter 97A.
b. The Iowa public employees’ retirement system governed by chapter 97B.
c. Investments by the Iowa finance authority governed by chapter 16.
d. A pension and annuity retirement system governed by chapter 294.
e. The statewide fire and police retirement system governed by chapter 411.
f. The judicial retirement system governed by chapter 602, article 9.
g. The deferred compensation plan established by the executive council pursuant to section 509A.12.
h. The tobacco settlement authority governed by chapter 12E.
i. Municipal utility retirement systems governed under chapter 412.
j. The state board of regents governed by chapter 262.
k. The veterans trust fund established in section 35A.13.
92 Acts, ch 1156, §19; 96 Acts, ch 1187, §78; 97 Acts, ch 185, §4; 2000 Acts, ch 1208, §23, 25; 2001 Acts, ch 102, §3; 2005 Acts, ch 179, §147; 2008 Acts, ch 1032, §201; 2015 Acts, ch 30, §5; 2022 Acts, ch 1034, §2
Referred to in §12B.10A, 12B.10B, 12B.14, 28E.5
Subsection 4, NEW paragraph k
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12B - SECURITY OF THE REVENUE › Section 12B.11 - Manner and details of settlement.

12B.11 Manner and details of settlement.
At the time of any examination of any such office, or at the time of any settlement with the treasurer in charge of any such public funds, the treasurer is not required to produce and count in the presence of the officer or officers making such examination or settlement, unless otherwise requested by the board of supervisors, all moneys or funds then on deposit in the safe or vault in the treasurer’s office. The treasurer shall produce a statement of all money or funds on deposit with any depository wherein the treasurer is authorized to deposit such funds, and shall correctly show the balance remaining on deposit in such depository at the close of business on the day preceding the day of such settlement. The treasurer shall also file a statement setting forth the numbers, dates, and amounts of all outstanding checks, or other items of difference, reconciling the balance as shown by the treasurer’s books with those of the depositories. The state treasurer shall also file a statement showing the numbers, dates, and amounts of all United States government bonds held as part of said public fund.
[R60, §804; C73, §918; C97, §1462; S13, §1462; C24, 27, 31, 35, 39, §7413; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §452.11]
C93, §12B.11
2003 Acts, ch 24, §1; 2006 Acts, ch 1070, §1, 31
Referred to in §12B.12, 12B.13, 12B.14
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12B - SECURITY OF THE REVENUE › Section 12B.12 - Duty of examining officer.

12B.12 Duty of examining officer.
It shall be the duty of the officer or officers making a settlement described under section 12B.11 to see that the amount of securities and money produced and counted, together with the amounts so certified by the legally designated depositories, agrees with the balance with which such treasurer should be charged, and the officer shall make a report in writing of any such settlement or examination, and attach thereto the certified statement of all such depositories.
[S13, §1462; C24, 27, 31, 35, 39, §7414; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §452.12]
C93, §12B.12
2017 Acts, ch 29, §14
Referred to in §12B.14
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12B - SECURITY OF THE REVENUE › Section 12B.13 - Report of settlement filed.

12B.13 Report of settlement filed.
The report of any settlement under section 12B.11 with the treasurer of state shall be filed in the office of the director of the department of management. The report of a settlement under section 12B.11 with a county treasurer shall be filed with the auditor of the county.
[S13, §1462; C24, 27, 31, 35, 39, §7415; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §452.13]
C93, §12B.13
2017 Acts, ch 29, §15
Referred to in §12B.14
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12B - SECURITY OF THE REVENUE › Section 12B.14 - False statements or reports.

12B.14 False statements or reports.
Any officer or other person making a false statement or report or in any manner violating any of the provisions of sections 12B.10 through 12B.13 shall be guilty of a fraudulent practice.
[S13, §1462-a; C24, 27, 31, 35, 39, §7416; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §452.14]
C93, §12B.14
2021 Acts, ch 80, §5
Fraudulent practices; see §714.8
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12B - SECURITY OF THE REVENUE › Section 12B.15 - Official delinquency.

12B.15 Official delinquency.
If any auditor or treasurer or other officer shall neglect or refuse to perform any act or duty specifically required of the officer, such officer shall be guilty of a simple misdemeanor, and the officer and the officer’s surety shall be liable on the official bond for any fine imposed, and for the damages sustained by any person through such neglect or refusal.
[R60, §744, 749, 805; C73, §919; C97, §1463; C24, 27, 31, 35, 39, §7417; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §452.15]
C93, §12B.15
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12B - SECURITY OF THE REVENUE › Section 12B.16 - Refund to counties.

12B.16 Refund to counties.
The director of the department of administrative services shall draw the warrant on the state treasury in favor of any county in the state for the amount of any excess in any fund or tax due the state from said county, excepting the state taxes.
[C97, §1464; C24, 27, 31, 35, 39, §7418; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §452.16]
C93, §12B.16
2003 Acts, ch 145, §286
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12B - SECURITY OF THE REVENUE › Section 12B.17 - Warrant for excess.

12B.17 Warrant for excess.
When it shall appear from the books in the department of administrative services that there is a balance due any county in excess of any revenue due the state, except state taxes, the director of the department of administrative services shall draw a warrant for such excess in favor of the county entitled thereto, and forward the same by mail, or otherwise, to the county auditor of the county to which it belongs, and charge the amount so sent to such county.
[C97, §1465; C24, 27, 31, 35, 39, §7419; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §452.17]
C93, §12B.17
2003 Acts, ch 145, §286
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12B - SECURITY OF THE REVENUE › Section 12B.18 - Delivery to treasurer.

12B.18 Delivery to treasurer.
The auditor to whom said warrant is sent shall immediately, upon receipt thereof, deliver it to the treasurer of the county, and charge the amount thereof to the treasurer, and shall acknowledge the receipt of the amount to the director of the department of administrative services.
[C97, §1466; C24, 27, 31, 35, 39, §7420; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §452.18]
C93, §12B.18
2003 Acts, ch 145, §286
Referred to in §331.502
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12C - DEPOSIT OF PUBLIC FUNDS › Section 12C.2 - Approval — requirements.

12C.2 Approval — requirements.
The approval of a financial institution as a depository of public funds for a public body shall be by written resolution or order that shall be entered of record in the minutes of the approving board, and that shall distinctly name each depository approved, and specify the maximum amount that may be kept on deposit in each depository.
[C24, 27, §139; C31, 35, §7420-d2; C39, §7420.02; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §453.2]
84 Acts, ch 1230, §6
C93, §12C.2
2002 Acts, ch 1096, §3, 17
Referred to in §12B.10
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12C - DEPOSIT OF PUBLIC FUNDS › Section 12C.4 - Location of depositories.

12C.4 Location of depositories.
Deposits by the treasurer of state shall be in depositories located in this state; by a county officer or county public hospital officer or merged area hospital officer, in depositories located in the county or in an adjoining county within this state; by a memorial hospital treasurer, in a depository located within this state which shall be selected by the memorial hospital treasurer and approved by the memorial hospital commission; by a city treasurer or other city financial officer, in depositories located in the county in which the city is located or in an adjoining county, but if there is no depository in the county in which the city is located or in an adjoining county then in any other depository located in this state which shall be selected as a depository by the city council; by a school treasurer or by a school secretary in a depository within this state which shall be selected by the board of directors or the trustees of the school district; by a township clerk in a depository located within this state which shall be selected by the township clerk and approved by the trustees of the township. However, deposits may be made in depositories outside of Iowa for the purpose of paying principal and interest on bonded indebtedness of any municipality when the deposit is made not more than ten days before the date the principal or interest becomes due. Further, the treasurer of state may maintain an account or accounts outside the state of Iowa for the purpose of providing custodial services for the state and state retirement fund accounts. Deposits made for the purpose of completing an electronic financial transaction pursuant to section 8B.32 or 331.427 may be made in any depository located in this state.
[C24, 27, §139, 4319, 5548, 5651, 7404; C31, 35, §7420-d4; C39, §7420.04; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §453.4; 82 Acts, ch 1202, §2]
84 Acts, ch 1230, §8; 86 Acts, ch 1243, §31
C93, §12C.4
2003 Acts, ch 18, §2
; 2003 Acts, 1st Ex, ch 2, §35, 209
; 2013 Acts, ch 129, §27
Referred to in §12B.10
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12C - DEPOSIT OF PUBLIC FUNDS › Section 12C.5 - Refusal of deposits — procedure.

12C.5 Refusal of deposits — procedure.
If the approved depositories will not accept the deposits under the conditions prescribed or authorized in this chapter, the funds may be deposited, on the same or better terms as were offered to the depositories, in one or more approved depositories conveniently located within the state.
[C24, 27, §5653; C31, 35, §7420-d5; C39, §7420.05; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, S81, §453.5; 81 Acts, ch 149, §1]
84 Acts, ch 1230, §9
C93, §12C.5
2001 Acts, ch 68, §3, 24; 2018 Acts, ch 1026, §7
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12C - DEPOSIT OF PUBLIC FUNDS › Section 12C.6 - Interest rate — committee — notice.

12C.6 Interest rate — committee — notice.
1. Public deposits shall be deposited with reasonable promptness in a depository legally designated as depository for the funds.
2. a. A committee composed of the superintendent of banking, the superintendent of credit unions, the auditor of state or a designee, and the treasurer of state shall meet on or about the first of each month or at other times as the committee may prescribe and by majority action shall establish a minimum rate to be earned on state funds placed in time deposits.
b. State funds invested in depository time certificates of deposit shall draw interest at not less than the rate established, effective on the date of investment.
c. An interest rate established by the committee under this section shall be in effect commencing on the eighth calendar day following the day the rate is established and until a different rate is established and takes effect.
d. The committee shall give advisory notice of an interest rate established under this section. This notice may be given by publication in one or more newspapers, by publication in the Iowa administrative bulletin, by ordinary mail to persons directly affected, by any other method determined by the committee, or by a combination of these. In all cases, the notice shall be published in the Iowa administrative bulletin.
e. The notice shall contain the following words:
The rate of interest has been determined by a committee of the state of Iowa to be the minimum interest rate that shall be paid on public funds deposited in approved financial institutions. To be eligible to accept deposits of public funds of the state of Iowa, a financial institution shall demonstrate a commitment to serve the needs of the local community in which it is chartered to do business. These needs include credit services as well as deposit services. All such financial institutions are required to provide the committee with a written description of their commitment to provide credit services in the community. This statement is available for examination by citizens.
f. The notice shall also provide the name and address of a state official to whom inquiries can be sent. Actions of the committee under this section and section 12C.6A are exempt from chapter 17A.
3. Public funds invested in depositories’ time certificates of deposit by a public body or officer other than the treasurer of state shall draw interest at rates to be determined by the public body or officer and the depository, which rates shall not be less than the minimum rate set under this section for state funds.
[C24, 27, §140, 4319, 5548, 5651, 7404; C31, 35, §7420-d6; C39, §7420.06; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, S81, §453.6; 81 Acts, ch 39, §2, ch 149, §2]
84 Acts, ch 1230, §10
C93, §12C.6
96 Acts, ch 1021, §1; 2008 Acts, ch 1032, §201
Referred to in §12B.10, 12C.6A, 12C.7, 384.58, 524.223, 573.12, 573.14, 602.8109
See §74A.6 for interest rates on public obligations
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12C - DEPOSIT OF PUBLIC FUNDS › Section 12C.7 - Interest — where credited.

12C.7 Interest — where credited.
1. A depository may pay interest to a public officer on deposits of public funds, and a public officer may take or receive interest on deposits of public funds.
2. Interest or earnings on investments and time deposits made in accordance with the provisions of sections 12.8, 12B.10, 12C.1, and 12C.6 shall be credited to the general fund of the governmental body making the investment or deposit, with the exception of specific funds for which investments are otherwise provided by law, constitutional funds, or when legally diverted to the state sinking fund for public deposits. Funds so excepted shall receive credit for interest or earnings derived from such investments or time deposits made from such funds.
[C31, 35, §7420-d7; C39, §7420.07; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §453.7]
84 Acts, ch 1230, §12
C93, §12C.7
95 Acts, ch 25, §1; 2013 Acts, ch 5, §1
Referred to in §2.12B, 8.55, 8.56, 8.57, 8.57A, 8.57B, 8.57E, 8.57G, 8.57H, 8A.123, 8A.321, 8A.328, 8A.330, 8A.431, 8A.432, 8A.434, 8A.435, 8A.436, 8A.437, 8A.438, 8A.454, 8B.13, 8B.33, 8D.14, 9.13, 12.51, 12.72, 12.79, 12.82, 12.88, 12.88A, 12.89, 12.91, 12A.6, 12C.10, 12I.4, 15.106A, 15.261, 15.262, 15.293, 15.335B, 15.412, 15B.3, 15E.311, 15E.363, 15F.107, 15F.204, 15F.205, 15F.403, 15F.404, 15H.5, 16.5, 16.45, 16.46, 16.47, 16.48, 16.49, 16.50, 16.57B, 16.134, 16.134A, 16.141, 16.153, 16.181, 29C.17A, 35A.5, 35A.11, 35A.13, 35A.14, 35A.16, 47.11, 80.42, 80.43, 80.44, 80.46, 80.47, 80.48, 80B.19, 89.8, 89A.19, 91C.9, 99B.58, 99D.9B, 99D.27A, 100.19, 100B.4, 100B.13, 103.7, 135.175, 135.181, 135.190A, 159.21, 159.31, 159A.16, 161A.80A, 161G.2, 162.2C, 163.3B, 169A.13A, 170.3C, 190A.5, 204.6, 207.10, 216B.3, 225D.2, 237A.4A, 249A.33, 249L.4, 249M.4, 256.34, 256.40, 256.87, 256I.11, 257.51, 260H.2, 260I.2, 261.38, 261.62, 261.73, 261.110, 261.115, 261.116, 261.117, 261B.8, 303.3D, 303A.4, 303A.7, 307.20, 312.1, 312A.2, 321G.7, 321I.8, 331.604, 357B.3, 359.43, 418.10, 418.16, 426C.2, 452A.79A, 453A.35A, 455A.18, 455A.19, 455B.112A, 455B.133B, 455B.133C, 455B.196, 455B.265A, 455C.12D, 455D.11C, 455D.15, 455E.11, 455G.21, 456A.17, 456A.21, 456A.33C, 459.401, 460.303, 461.31, 466.9, 466B.45, 466B.46, 473.19A, 476.46A, 483A.3B, 502.601, 514I.11, 523C.24, 535D.14, 541A.7, 553.19, 602.8108, 692.2A, 714.16C, 714.23, 717F.9, 904.117, 904.118A, 904.303A, 904.311A, 904.321, 904.703
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12C - DEPOSIT OF PUBLIC FUNDS › Section 12C.8 - Liability of public officers.

12C.8 Liability of public officers.
An officer who is referred to in section 12C.1 is not liable for loss of funds by reason of the insolvency of the depository institution when the funds have been deposited or invested as provided in this chapter.
[C27, §1090-a20; C31, 35, §7420-d8; C39, §7420.08; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §453.8]
84 Acts, ch 1230, §13
C93, §12C.8
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12C - DEPOSIT OF PUBLIC FUNDS › Section 12C.9 - Investment of sinking funds — bond proceeds.

12C.9 Investment of sinking funds — bond proceeds.
1. The treasurer of state and all other state agencies authorized to invest funds and the treasurer or other designated financial officer of each political subdivision including each school corporation shall invest the proceeds of notes, bonds, refunding bonds, and other evidences of indebtedness, and funds being accumulated for the payment of principal and interest or reserves in investments set out in section 12B.10, subsection 4, paragraph “a”, subparagraphs (1) through (9), section 12B.10, subsection 5, paragraph “a”, subparagraphs (1) through (7), an investment contract, or tax-exempt bonds. The investment shall be as defined and permitted by section 148 of the Internal Revenue Code and applicable regulations under that section. An investment contract or tax-exempt bonds shall be rated within the two highest classifications as established by at least one of the standard rating services approved by the superintendent of banking by rule adopted pursuant to chapter 17A.
2. Earnings and interest from investments pursuant to subsection 1 shall be used to pay the principal or interest as the principal or interest comes due on the indebtedness or to fund the construction of the project for which the indebtedness was issued, or shall be credited to the capital project fund for which the indebtedness was issued.
[C27, 31, 35, §12775-b1; C39, §7420.43; C46, 50, 54, §454.35; C58, 62, 66, 71, 73, 75, 77, 79, 81, §453.9]
84 Acts, ch 1230, §14; 91 Acts, ch 249, §2; 92 Acts, ch 1156, §23
C93, §12C.9
95 Acts, ch 25, §2; 2008 Acts, ch 1075, §2
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12C - DEPOSIT OF PUBLIC FUNDS › Section 12C.10 - Investment of funds created by election.

12C.10 Investment of funds created by election.
The governing council or board, who by law has control of any fund created by direct vote of the people, may invest any portion of the fund not currently needed, in investments authorized in section 12B.10. The treasurer of state may invest in any of the investments authorized for the Iowa public employees’ retirement system in section 97B.7A except that investment in common stocks shall not be permitted. Interest or earnings on such funds shall be credited as provided in section 12C.7, subsection 2.
[C58, 62, 66, 71, 73, 75, 77, 79, 81, §453.10]
84 Acts, ch 1230, §15
C93, §12C.10
2001 Acts, ch 68, §4, 24; 2019 Acts, ch 24, §6
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12C - DEPOSIT OF PUBLIC FUNDS › Section 12C.11 - Investment officer.

12C.11 Investment officer.
A county, city, county public hospital, merged area hospital, memorial hospital or school corporation governing body may delegate its investment authority, under the provisions of this chapter, to the treasurer or other financial officer of the governmental unit, who shall thereafter be responsible for handling investment transactions until such delegation of authority is revoked.
[C66, 71, 73, 75, 77, 79, 81, §453.11]
C93, §12C.11
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12C - DEPOSIT OF PUBLIC FUNDS › Section 12C.12 - Service charge by depository.

12C.12 Service charge by depository.
A depository may make reasonable service charges with respect to the handling of public funds, but the service charges shall not be greater than the depository customarily requires from other depositors for similar services.
[C66, 71, 73, 75, 77, 79, 81, §453.12]
84 Acts, ch 1230, §16
C93, §12C.12
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12C - DEPOSIT OF PUBLIC FUNDS › Section 12C.13 - Deposit not membership.

12C.13 Deposit not membership.
Notwithstanding chapter 524, the deposit of public funds in a credit union as defined in section 533.102 or a mutual corporation as defined in section 524.103 does not constitute being a shareholder, stockholder, or owner of a corporation in violation of
Article VIII
of the Constitution of the State of Iowa or any other provision of law.
84 Acts, ch 1230, §17
C85, §453.13
C93, §12C.13
2007 Acts, ch 174, §77; 2012 Acts, ch 1017, §37
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12C - DEPOSIT OF PUBLIC FUNDS › Section 12C.15 - Restriction on requiring collateral.

12C.15 Restriction on requiring collateral.
A local government shall not require a pledge of collateral for that portion of the local government’s deposits in a credit union that is covered by insurance of a federal agency or instrumentality.
84 Acts, ch 1230, §19
C85, §453.15
92 Acts, ch 1156, §24
C93, §12C.15
99 Acts, ch 117, §6, 15
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12C - DEPOSIT OF PUBLIC FUNDS › Section 12C.17 - Deposit of securities.

12C.17 Deposit of securities.
1. A credit union which receives public funds shall pledge securities owned by it as required by this chapter in one of the following methods:
a. The securities shall be deposited with the county, city, or other public officers at the option of the officers.
b. The securities shall be deposited pursuant to a bailment agreement with a financial institution having facilities for the safekeeping of securities and doing business in the state. A financial institution which receives securities for safekeeping is liable to the public officer to whom the securities are pledged for any loss suffered by the public officer if the financial institution relinquishes custody of the securities contrary to the provisions of this chapter or the instrument governing the pledge of the securities.
c. The securities shall be deposited with the federal reserve bank, the federal home loan bank of Des Moines, Iowa, a corporate central credit union organized under section 533.213, or a corporate credit union whose activities are subject to regulation by the national credit union administration pursuant to a bailment agreement or a pledge custody agreement.
d. The securities may be deposited by any combination of methods specified in paragraphs “a”, “b”, and “c”.
2. A deposit of securities shall not be made in a facility owned or controlled directly or indirectly by the financial institution which deposits the securities.
3. All deposits of securities, other than deposits of securities with the appropriate public officer, shall have a joint custody receipt taken for the securities with one copy delivered to the public officer and one copy delivered to the credit union. A credit union pledging securities with a public officer may cause the securities to be examined in the officer’s office to show the securities are placed with the officer as collateral security and are not transferable except upon the conditions provided in this chapter.
4. Upon written request from the appropriate public officer but not less than monthly, the federal reserve bank, the federal home loan bank of Des Moines, Iowa, a corporate central credit union organized under section 533.213, or a corporate credit union whose activities are subject to regulation by the national credit union administration shall report a description, the par value, and the market value of any pledged collateral by a credit union.
84 Acts, ch 1230, §21
C85, §453.17
85 Acts, ch 194, §4; 92 Acts, ch 1156, §31 – 33
C93, §12C.17
99 Acts, ch 117, §8, 15; 2006 Acts, ch 1040, §2, 3; 2007 Acts, ch 174, §79, 80; 2008 Acts, ch 1191, §28, 29; 2014 Acts, ch 1092, §8, 9
Referred to in §12C.1
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12C - DEPOSIT OF PUBLIC FUNDS › Section 12C.18 - Condition of security.

12C.18 Condition of security.
The condition of the surety bond or the deposit of securities, instruments, or a joint custody receipt, must be that the credit union will promptly pay to the parties entitled public funds, including any interest on the funds, in its custody upon lawful demand and, when required by law, pay the funds to the public officer who made the deposit.
84 Acts, ch 1230, §22
C85, §453.18
92 Acts, ch 1156, §34
C93, §12C.18
99 Acts, ch 117, §9, 15
Referred to in §12C.1
2023 Iowa Code › Title I - STATE SOVEREIGNTY AND MANAGEMENT › Chapter 12C - DEPOSIT OF PUBLIC FUNDS › Section 12C.19 - Withdrawals, exchanges of security.

12C.19 Withdrawals, exchanges of security.
1. Securities pledged pursuant to this chapter may be withdrawn on application of the pledging depository institution, and as to securities pledged by a credit union upon approval of the public officer to whom the securities are pledged, if the deposit of securities is no longer necessary to comply with this chapter, or withdrawal is required for collection by virtue of maturity or exchange. The depository institution shall replace securities so withdrawn for collection or exchange.
2. In an exchange of deposited securities for new securities, the amount of security on deposit at any time shall not be decreased below that otherwise required by this chapter.
3. In the event of substitution, addition, or exchange of securities, the holder or custodian of the securities shall, on the same day, forward by regular mail to the public officer and the credit union, a receipt specifically describing and identifying both the substituted or additional securities.
4. The public officer which deposits public funds with a credit union shall require, if the market value of the securities deposited with or for the benefit of the officer falls below one hundred ten percent of the deposit liability to the public officer, the deposit of additional security to bring the total market value of the security to one hundred ten percent of the amount of public funds held by the credit union.
84 Acts, ch 1230, §23
C85, §453.19
92 Acts, ch 1156, §35
C93, §12C.19
99 Acts, ch 117, §10, 15; 2002 Acts, ch 1096, §6, 17; 2003 Acts, ch 44, §6
Referred to in §12C.1