reglab/statecodes huggingface dataset:
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.6 - Sale without appraisement.

257B.6 Sale without appraisement.
When the county board of supervisors has once offered for sale school lands held under section 257B.1A in compliance with the requirements of this chapter, and they remain unsold, and it is unable to obtain the appraised value of the lands and, in the opinion of the board, it is for the best interests of the permanent school fund that the lands be sold for a less price, it may instruct the auditor to transmit to the secretary of state a certified copy of its proceedings in relation to the order of sale of the land and subsequent proceedings in relation to the sale, including the action of the township trustees, and the price per acre at which the land had been appraised. The secretary of state shall submit the transcript of the proceedings to the executive council; and if it approves of a sale at a less sum, it shall certify the approval to the auditor of the county from which the transcript came. The certificate shall be recorded in the minute book of the board of supervisors, and the land may again be offered and sold to the highest bidder without again being appraised, after notice given as in case of sales in the first instance.
[C73, §1849; C97, §2842; C24, 27, 31, 35, 39, §4474; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.6]
83 Acts, ch 185, §10, 62
C93, §257B.6
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.7 - Sale on credit — taxation — waste.

257B.7 Sale on credit — taxation — waste.
When lands are sold upon a partial credit, the contract therefor shall be at once reduced to writing, signed by the proper parties, recorded in the county where the land is situated, and immediately thereafter filed in the office of the county auditor. Any purchaser or the purchaser’s assigns may at any time pay the full amount for lands with accrued interest, and receive from the county auditor a certificate of purchase, which shall be at once transmitted to the secretary of state and will entitle the holder to a patent for the lands, to be issued by the secretary of state and the governor. All school lands sold in pursuance of law shall be subject to taxation from and after the execution and delivery of a contract of purchase. All sales made, where the full price is not paid, shall be subject to the law relative to the prevention or punishment of waste, and in all such cases the township trustees in each township are charged with the duty of preventing the commission of waste upon any school lands lying in their township, and, if attempted, they shall apply by petition for an injunction to stay the same, and if granted the writ shall issue without bond, and the court issuing it may make such order in the premises as shall be equitable and best calculated to prevent threatened injury, and may adjudge damages for any injury done, the costs to abide the event of the action, and the damages adjudged shall be paid to the county treasurer and the county treasurer shall forthwith pay the same to the state treasurer which shall become a part of the permanent school fund.
[R60, §1972, 1973, 1976 – 1978; C73, §1851, 1852, 1856 – 1858; C97, §2843; C24, 27, 31, 35, 39, §4475; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.7]
C93, §257B.7
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.8 - Sale of lands bid in.

257B.8 Sale of lands bid in.
When lands have been sold and bid in by the state in behalf of the permanent school fund upon a judgment in favor of the fund, the land may be sold in the same manner as other school lands, and when lands have been conveyed to the counties in which they are situated for the use of the permanent school fund, instead of to the state, the conveyance is valid and binding, and upon proper certificates of sales patents shall issue in the same manner as if the conveyances had been properly made to the state.
[C73, §1850; C97, §2844; C24, 27, 31, 35, 39, §4476; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.8]
83 Acts, ch 185, §11, 62
C93, §257B.8
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.9 - Cash or collateral security.

257B.9 Cash or collateral security.
When, in the judgment of the board of supervisors, school lands held under section 257B.1A are of such a character that a sale upon partial credit would be unsafe or incompatible with the interest of the permanent school fund, and especially in the case of timbered lands, the board of supervisors may require the entire purchase money in advance; or if the board sells the land upon a partial credit, it shall require good collateral security for the payment of the part upon which credit is given.
[R60, §1974; C73, §1853; C97, §2845; C24, 27, 31, 35, 39, §4477; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.9]
83 Acts, ch 185, §12, 62
C93, §257B.9
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.10 - Uniform interest date.

257B.10 Uniform interest date.
If money is due to the permanent school fund, either for loans or deferred payments of the purchase price of land sold, the interest shall be made payable on the first day of January each year, and if the debtor fails to pay the interest within six months of the date it is due, the entire amount of both principal and interest shall become due, and the county auditor shall report the nonpayment to the school board, which may immediately commence action for the collection of the amount reported as due. This section is a part of a contract made by virtue of this chapter, whether expressed in the contract or not.
[R60, §1975, 1979; C73, §1854, 1855; C97, §2846; C24, 27, 31, 35, 39, §4478; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.10]
83 Acts, ch 185, §13, 62
C93, §257B.10
2011 Acts, ch 43, §1
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.11 - School fund accounts — audit of losses.

257B.11 School fund accounts — audit of losses.
The director of the department of administrative services shall keep the permanent school fund accounts in books provided for that purpose, separate and distinct from the revenue books. The auditor of state shall audit losses to the permanent school or university fund caused by defalcation, mismanagement, or fraud. The auditor of state shall adopt rules pursuant to chapter 17A as necessary to ascertain the losses.
[R60, §1969; C73, §1842; C97, §2847; C24, 27, 31, 35, 39, §4479; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.11]
83 Acts, ch 185, §14, 62; 92 Acts, ch 1156, §12
C93, §257B.11
94 Acts, ch 1023, §45; 2003 Acts, ch 145, §286
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.12 - Bonds to cover losses.

257B.12 Bonds to cover losses.
When any sum not less than one thousand dollars shall be so audited and so become a debt of the state to the fund, as provided by the Constitution of the State of Iowa, the auditor of state shall issue the bond or bonds of the state in favor of the fund, bearing interest at a rate not exceeding that permitted by chapter 74A, payable semiannually on the first day of January and July after issuance, and the amount to pay the interest as it becomes due is appropriated out of any funds in the state treasury.
[C73, §1843; C97, §2847; C24, 27, 31, 35, 39, §4480; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.12]
C93, §257B.12
2006 Acts, ch 1010, §79
Iowa Constitution, Art. VII, §3
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.15 - Management.

257B.15 Management.
Property and money accrued to the permanent school fund shall be managed and controlled by the treasurer of state, and the treasurer of state is responsible for the safekeeping, investment, reinvestment and disbursement of the property and money.
[R60, §1980; C73, §1859, 1860; C97, §2848; C24, 27, 31, 35, 39, §4483; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.15]
83 Acts, ch 185, §15, 62
C93, §257B.15
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.16 - Actions.

257B.16 Actions.
Actions for and in behalf of the fund may be brought in the name of the state for the use of the permanent school fund, by the attorney general.
[C73, §1860; C97, §2848; C24, 27, 31, 35, 39, §4484; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.16]
83 Acts, ch 185, §16, 62
C93, §257B.16
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.17 - Liability of county.

257B.17 Liability of county.
Each county is liable for losses upon loans of the permanent school fund, principal or interest, made in the county, unless the loss was not occasioned by reason of a default of its officers or by taking insufficient or imperfect securities, or from a failure to bid at an execution sale the full amount of the judgment and costs.
[C73, §1860; C97, §2848; C24, 27, 31, 35, 39, §4485; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.17]
83 Acts, ch 185, §17, 62
C93, §257B.17
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.18 - Exemption of county.

257B.18 Exemption of county.
All claims for exemption from liability on account of losses shall be examined into and adjusted by the director of the department of administrative services, upon proof submitted to the director in writing in behalf of the county within three months after the county auditor shall be advised by the director of the director’s readiness to receive the proof. In the absence of evidence, or if that submitted is insufficient, the loss may be charged against the county and be conclusive, but if found sufficient, the director of the department of administrative services shall present the facts in the report to the next general assembly.
[C73, §1860; C97, §2848; C24, 27, 31, 35, 39, §4486; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.18]
C93, §257B.18
2003 Acts, ch 145, §286
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.19 - Loans.

257B.19 Loans.
The permanent school fund shall be loaned out or invested by the treasurer of state as it comes into the treasurer’s hands.
[R60, §1981; C73, §1861; C97, §2849; S13, §2849; C24, 27, 31, 35, 39, §4487; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.19]
83 Acts, ch 185, §18, 62
C93, §257B.19
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.20 - Investment of permanent fund.

257B.20 Investment of permanent fund.
The permanent school fund which is, at any time, in the custody of the treasurer of state, shall be invested as follows:
1. In bonds or other evidences of indebtedness issued, assumed, or guaranteed by the United States of America, or by any agency or instrumentality thereof.
2. In bonds, or other evidences of indebtedness of the state of Iowa, or of any school district, county, township, city or other political subdivision of the state of Iowa which are issued pursuant to law.
3. In savings accounts or in time deposits in Iowa banks approved as depositories by the executive council.
4. In any investments authorized for the Iowa public employees’ retirement system in section 97B.7A, except that investment in common stocks shall not be permitted.
[C39, §4487.1; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.20]
C93, §257B.20
2001 Acts, ch 68, §16, 24
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.28 - Statute of limitation.

257B.28 Statute of limitation.
Lapse of time is not a bar to action to recover a part of the permanent school fund, and it does not prevent the introduction of evidence in an action, except as provided in sections 614.29 through 614.38.
[C73, §1880, 2542; C97, §2852; C24, 27, 31, 35, 39, §4495; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.28]
83 Acts, ch 185, §19, 62
C93, §257B.28
2021 Acts, ch 80, §139
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.29 - Payments.

257B.29 Payments.
Payments to the permanent school fund upon contracts, or loans of another nature, shall be made to the treasurer of the county upon a certificate from the auditor showing the amount due.
[R60, §1986; C73, §1867; C97, §2853; C24, 27, 31, 35, 39, §4496; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.29]
83 Acts, ch 185, §20, 62
C93, §257B.29
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.30 - Release of mortgage.

257B.30 Release of mortgage.
The auditor shall, when the debt is paid, release any mortgage or issue a certificate of purchase, as the case may be, and report the same to the board of supervisors at its next meeting, which report shall be carried into the records of the board.
[R60, §1986; C73, §1867; C97, §2853; C24, 27, 31, 35, 39, §4497; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.30]
C93, §257B.30
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.31 - School fund account — settlement.

257B.31 School fund account — settlement.
The auditor shall also keep, in books to be provided for that purpose, an account to be known as the permanent school fund account, in which a memorandum of the notes, mortgages, bonds, money, and assets which may come into the auditor’s hands and those of the treasurer shall be entered, and separate accounts of principal and interest be kept. The county treasurer shall also keep an account and record of all school funds coming into the county treasurer’s hands. Settlements of the account shall be made with the board of supervisors at its January and June sessions, and the settlements shall be recorded with the proceedings of the board.
[R60, §1990, 1991; C73, §1876, 1877; C97, §2853; C24, 27, 31, 35, 39, §4498; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.31]
83 Acts, ch 185, §21, 62
C93, §257B.31
Referred to in §331.552
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.32 - Notice of default.

257B.32 Notice of default.
When outstanding contracts for the sale of school lands or notes for money of the permanent school fund loaned, or interest on the permanent school fund, are due, the auditor shall by mail at once notify the debtor to make payment within three months.
[C73, §1872, 1873; C97, §2854; C24, 27, 31, 35, 39, §4499; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.32]
83 Acts, ch 185, §22, 62
C93, §257B.32
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.33 - Suit — attorney fee.

257B.33 Suit — attorney fee.
If the debtor does not comply with the notice, the auditor shall report the noncompliance to the school board, which may bring an action to recover the debt, and an injunction may issue for cause, without bond when so petitioned, and there shall be allowed in the judgment, entered and taxed as a part of the costs in the case, a reasonable sum as compensation to plaintiff’s attorney, not exceeding the amount provided by law for attorney fees.
[C73, §1873; C97, §2854; C24, 27, 31, 35, 39, §4500; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.33]
90 Acts, ch 1168, §42
C93, §257B.33
2011 Acts, ch 43, §2
Attorney fees, §625.22
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.34 - Bid at execution sale.

257B.34 Bid at execution sale.
Upon a sale of lands under an execution founded upon a permanent school fund claim or right, the auditor shall bid a sum required by the interests of the fund, and, if struck off to the state, it shall be thereafter treated the same as other lands belonging to the fund.
[C73, §1874; C97, §2854; C24, 27, 31, 35, 39, §4501; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.34]
83 Acts, ch 185, §23, 62
C93, §257B.34
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.35 - Sheriff’s deed to state.

257B.35 Sheriff’s deed to state.
When lands have been bid in by the county for the state under foreclosure of permanent school fund mortgages and the time for redemption has expired, a sheriff’s deed shall be issued to the state for the use and benefit of the permanent school fund. The county auditor shall file the deed for record in the office of the county recorder who shall record the deed without fee and return it when recorded to the county auditor who shall then forward it to the secretary of state. The secretary of state shall record the deed and then file it with the director of the department of administrative services.
[C73, §1881; C97, §2855; S13, §2855; C24, 27, 31, 35, 39, §4502; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.35]
83 Acts, ch 185, §24, 62
C93, §257B.35
2003 Acts, ch 145, §286
Referred to in §331.602
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.36 - Resale by state.

257B.36 Resale by state.
All lands now acquired under permanent school fund foreclosure proceedings shall be resold within ten years from January 1, 1939, and lands acquired after such date shall be resold within six years from date of foreclosure. Such land shall be appraised, advertised, and sold in the manner provided for the appraisement, advertisement, sale and conveyance of the sixteenth section or lands selected in lieu thereof.
[S13, §2855; C24, 27, 31, 35, 39, §4503; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.36]
C93, §257B.36
Appraisement, §257B.4
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.37 - Proceeds on resale.

257B.37 Proceeds on resale.
When a resale is made, the county auditor shall notify the director of the department of administrative services, who shall thereupon charge the county with the full amount of the resale, except that when the lands are sold for more than the unpaid portion of the principal, the excess shall be applied to reimburse the county for the costs of foreclosure and the interest paid by the county to the state by reason of default of payment of same by the makers of the notes, previous to the time when the right of redemption has expired, not to exceed three years.
[C73, §1881, 1882; C97, §2855; S13, §2855; C24, 27, 31, 35, 39, §4504; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.37]
C93, §257B.37
2003 Acts, ch 145, §286
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.38 - Excess — loss borne by county.

257B.38 Excess — loss borne by county.
An excess over the amount of the unpaid portion of the principal, costs of foreclosure, and interest on the principal, shall inure to the county and be credited to the general county fund. If the lands are sold for a less amount than the unpaid portion of the principal, the loss shall be sustained by the county, and the board of supervisors shall at once order the amount of the loss transferred from the general fund of the county to the permanent school fund account.
[C73, §1881; C97, §2855; S13, §2855; C24, 27, 31, 35, 39, §4505; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.38]
83 Acts, ch 185, §25, 62
C93, §257B.38
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.39 - Report as to sales — interest.

257B.39 Report as to sales — interest.
County auditors shall report, on or before January 1 of each year, to the director of the department of administrative services the amount of the sales and resales made during the previous year, of the sixteenth section, five-hundred-thousand-acre grant, and escheat estates, and the director of the department of administrative services shall charge them to the counties with interest from the date of the sale or resale to January 1, at the rate of three percent per annum.
[C73, §1881; C97, §2855; S13, §2855; C24, 27, 31, 35, 39, §4506; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.39]
83 Acts, ch 185, §26, 62
C93, §257B.39
94 Acts, ch 1173, §11; 2003 Acts, ch 145, §286
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.40 - Interest charged to counties.

257B.40 Interest charged to counties.
The director of the department of administrative services shall also, on the first day of January, charge to each county having permanent school funds under its control, interest thereon at the rate of three percent per annum for the preceding year, or such part thereof as such funds shall have been in the control of the county, which shall be taken as the whole amount of interest due from such county. All interest collected above the three percent charged by the state shall be transferred to the general county fund.
[C73, §1882; C97, §2855; S13, §2855; C24, 27, 31, 35, 39, §4507; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.40]
C93, §257B.40
2003 Acts, ch 145, §286
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.41 - Uncollected interest.

257B.41 Uncollected interest.
If any county fails or refuses to collect the amount of interest due the state, the deficiency shall be paid to the state from the general county fund. Any county delinquent in the payment of interest due the state shall be charged one percent per month on the amount delinquent until paid.
[C73, §1882; C97, §2855; S13, §2855; C24, 27, 31, 35, 39, §4508; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.41]
C93, §257B.41
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.42 - Report as to rents.

257B.42 Report as to rents.
By January 1 of each year, county auditors shall report to the director of the department of administrative services the amount of rents collected during the preceding year on unsold school lands and the director shall include the amount reported in the semiannual apportionment of interest.
[C73, §1884; C97, §2855; S13, §2855; C24, 27, 31, 35, 39, §4509; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.42]
83 Acts, ch 185, §27, 62
C93, §257B.42
94 Acts, ch 1173, §12; 2003 Acts, ch 145, §286
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257B - SCHOOL FUNDS › Section 257B.44 - Penalty against county auditor.

257B.44 Penalty against county auditor.
A county auditor failing or neglecting to perform required duties under this chapter, is liable to a penalty of not less than one hundred nor more than five hundred dollars, to be recovered in an action brought in the district court by the board of supervisors. The judgment shall be entered against the party and the party’s sureties, and the proceeds shall be paid to the treasurer of state for deposit in the general fund of the state.
[R60, §1992; C73, §1878; C97, §2857; C24, 27, 31, 35, 39, §4511; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.44]
83 Acts, ch 185, §28, 62; 83 Acts, ch 186, §10066, 10201, 10204
C93, §257B.44
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257C - ADVANCE FUNDING AUTHORITY › Section 257C.2 - Legislative findings.

257C.2 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 and the improvement of the financing procedures for Iowa’s schools.
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. Iowa schools face a serious and increasing problem with cash flow difficulties caused, among other factors, by increasing reliance on state school foundation aid, delays in the payment of state school foundation aid, and the periodic payment of property taxes for school purposes.
4. As a result of their increasing cash flow difficulties, Iowa schools have had to borrow on a short-term basis larger amounts of funds more often, thus increasing their borrowing costs significantly.
5. The short-term borrowing costs of Iowa schools are a direct burden on the taxpayers of the state.
6. It is necessary to create the authority to provide a means for Iowa schools to reduce substantially or eliminate their short-term borrowing costs and thus reduce costs to the taxpayers.
7. 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.
85 Acts, ch 34, §2
CS85, §442A.2
C93, §257C.2
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257C - ADVANCE FUNDING AUTHORITY › Section 257C.3 - Definitions.

257C.3 Definitions.
As used in this chapter, unless the context otherwise requires:
1. “Authority” means the Iowa advance funding authority created by this chapter.
2. “Board” means the governing board of the authority created in section 257C.5.
3. “Bonds” means bonds, notes and other obligations issued by the authority pursuant to this chapter.
4. “Notes” means notes, warrants, loan agreements, and all other forms of evidence of indebtedness now or hereafter authorized for schools. “Purchase of notes” includes lending money to schools or any other forms of financing of schools by the authority.
5. “School” includes each public school district as defined in chapter 274, area education agency as defined in chapter 273 and community college as defined in chapter 260C.
85 Acts, ch 34, §3
CS85, §442A.3
90 Acts, ch 1253, §121
C93, §257C.3
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257C - ADVANCE FUNDING AUTHORITY › Section 257C.4 - Iowa advance funding authority.

257C.4 Iowa advance funding authority.
The Iowa advance funding authority is created. It is a public instrumentality and agency of the state exercising public and essential governmental functions, established for the purposes of reducing the cash flow difficulties faced by Iowa schools, improving the financial procedures of Iowa schools, and reducing the short-term borrowing costs of Iowa schools.
85 Acts, ch 34, §4
CS85, §442A.4
C93, §257C.4
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257C - ADVANCE FUNDING AUTHORITY › Section 257C.5 - Governing board.

257C.5 Governing board.
1. The powers of the authority are vested in and exercised by a board consisting of five members, including the treasurer of state, the director of the department of education, and the director of the department of management, and two members appointed by the governor, subject to confirmation by the senate. The state officials may designate representatives to serve on the board for them. As far as possible, the governor shall appoint members who are knowledgeable or experienced in the school systems of this state or in finance.
2. The governor shall appoint the members of the authority for terms of six years, beginning and ending as provided in section 69.19. An appointed member of the authority may be removed from office by the governor for misfeasance, malfeasance, or willful neglect of duty or other just cause, after notice and hearing, unless the notice and hearing are expressly waived in writing by the member.
3. Three members of the board constitute a quorum.
4. The appointed members of the authority receive a per diem as specified in section 7E.6 for each day spent in performance of duties as members, and shall be reimbursed for all actual and necessary expenses incurred in the performance of duties as members.
5. The appointed members of the authority shall give bond as required for public officers in chapter 64.
6. Meetings of the authority shall be held at the call of the chairperson or when a majority of the members so request.
7. The members shall elect a chairperson, vice chairperson and secretary annually, and other officers as they determine necessary.
85 Acts, ch 34, §5
CS85, §442A.5
88 Acts, ch 1134, §83; 90 Acts, ch 1256, §47
C93, §257C.5
Referred to in §257C.3
Confirmation, see §2.32
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257C - ADVANCE FUNDING AUTHORITY › Section 257C.6 - General powers.

257C.6 General powers.
The board has all of the general powers needed to carry out its purposes and duties and exercise its specific powers, including but not limited to the power to:
1. Issue its negotiable bonds as provided in this chapter in order to finance its programs.
2. Have perpetual succession as a public authority.
3. Sue and be sued in its own name.
4. Make and execute agreements, contracts, and other instruments, with any public or private entity.
5. Hire and compensate legal counsel, notwithstanding chapter 13.
6. Invest or deposit moneys of the authority, subject to any agreement with bondholders, in any manner determined by the authority, notwithstanding chapters 12B and 12C.
7. Procure insurance and other credit enhancement arrangements including but not limited to municipal bond insurance and letters of credit.
8. Fix and collect fees and charges for its services.
9. Accept appropriations, gifts, grants, loans, or other aid from public or private entities.
10. Adopt rules consistent with this chapter, and subject to chapter 17A.
11. The authority is exempt from chapter 8A, subchapter III.
85 Acts, ch 34, §6
CS85, §442A.6
C93, §257C.6
2003 Acts, ch 145, §226
Referred to in §257C.13
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257C - ADVANCE FUNDING AUTHORITY › Section 257C.7 - Staff.

257C.7 Staff.
The executive director and staff of the Iowa finance authority, pursuant to chapter 16, shall also serve as executive director and staff of the advance funding authority, respectively. The executive director shall not, directly or indirectly, exert influence to induce any other officers or employees of the state to adopt a political view, or to favor a political candidate for office.
85 Acts, ch 34, §7; 85 Acts, ch 252, §56
CS85, §442A.7
C93, §257C.7
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257C - ADVANCE FUNDING AUTHORITY › Section 257C.9 - Moneys of the authority.

257C.9 Moneys of the authority.
1. Moneys of the authority, except as otherwise provided in this chapter, shall be paid to the authority and shall be deposited in a bank or other financial institution designated by the authority. The moneys shall be withdrawn on the order of the person authorized by the authority. Deposits shall be secured in the manner determined by the authority. The auditor of state or the auditor’s legally authorized representatives may periodically examine the accounts and books of the authority, including its receipts, disbursements, contracts, leases, sinking funds, investments, and any other records and papers relating to its financial standing, and the authority is not required to pay a fee for the examination.
2. The authority may contract with the holders of its bonds as to the custody, collection, security, investment, and payment of moneys of the authority, of moneys held in trust or otherwise for the payment of bonds, and to carry out the contract. Moneys held in trust or otherwise for the payment of bonds or in any way to secure bonds and deposits of the moneys may be secured in the same manner as moneys of the authority, and banks and trust companies may give security for the deposits.
3. Subject to a contract with bondholders, and to the approval of the director of the department of administrative services, the authority shall prescribe a system of accounts.
4. The authority shall submit to the governor, the auditor of state, the department of management, and the department of administrative services, within thirty days of its receipt, a copy of the report of every external examination of the books and accounts of the authority other than copies of the reports of examinations made by the auditor of state.
85 Acts, ch 34, §9
CS85, §442A.9
C93, §257C.9
94 Acts, ch 1023, §46; 2003 Acts, ch 145, §286
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257C - ADVANCE FUNDING AUTHORITY › Section 257C.10 - Powers not restricted — law complete in itself.

257C.10 Powers not restricted — law complete in itself.
This chapter is not a restriction or limitation on powers which the authority or a school has under the laws of this state, but is cumulative to any such powers. No proceedings, referendum, notice, or approval is required for the creation of the authority or the issuance of obligations or an instrument as security except as provided in this chapter.
85 Acts, ch 34, §10
CS85, §442A.10
C93, §257C.10
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257C - ADVANCE FUNDING AUTHORITY › Section 257C.11 - Limitation of liability.

257C.11 Limitation of liability.
Members of the board and persons acting in the authority’s behalf, while acting within the scope of their employment or agency, are not subject to personal liability resulting from carrying out the powers and duties given in this chapter.
85 Acts, ch 34, §11
CS85, §442A.11
C93, §257C.11
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257C - ADVANCE FUNDING AUTHORITY › Section 257C.12 - Conflicts of interest.

257C.12 Conflicts of interest.
1. If a member or employee other than the executive director of the authority has an interest, either direct or indirect, in a contract to which the authority is or is to be a party, the interest shall be disclosed to the authority in writing and shall be set forth in the minutes of a meeting of the authority. The member having the interest shall not participate in action by the board with respect to that contract.
2. This section does not limit the right of a member of the board to acquire an interest in bonds, or limit the right of a member to have an interest in a bank or other financial institution in which the funds of the authority are deposited or which is acting as trustee or paying agent under a trust indenture to which the authority is a party.
3. The executive director shall not have an interest in a bank or other financial institution in which the funds of the authority are deposited or which is acting as trustee or paying agent under a trust indenture to which the authority is a party. The executive director shall not receive, in addition to fixed salary or compensation, any money or valuable thing, either directly or indirectly, or through any substantial interest in any other corporation or business unit, for negotiating, procuring, recommending, or aiding in any loan made by the authority, nor shall the executive director be pecuniarily interested, either as principal, co-principal, agent, or beneficiary, either directly or indirectly or through any substantial interest in any other corporation or business unit, in any loan.
85 Acts, ch 34, §12
CS85, §442A.12
C93, §257C.12
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257C - ADVANCE FUNDING AUTHORITY › Section 257C.13 - Exemption from competitive bid laws.

257C.13 Exemption from competitive bid laws.
The authority and contracts made by it in carrying out its public and essential governmental functions under sections 257C.6 and 257C.8 are exempt from the laws of the state which provide for competitive bids and hearings in connection with contracts.
85 Acts, ch 34, §13
CS85, §442A.13
C93, §257C.13
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257C - ADVANCE FUNDING AUTHORITY › Section 257C.14 - Annual report.

257C.14 Annual report.
1. The authority shall submit to the governor and the general assembly, not later than December 31 of each year, a report setting forth:
a. Its operations and accomplishments.
b. Its receipts and expenditures during the previous fiscal year, in accordance with the classifications it establishes for its operating and capital accounts.
c. Its assets and liabilities at the end of the previous fiscal year and the status of reserve, special, and other funds.
d. A schedule of its bonds outstanding at the end of the previous fiscal year, together with a statement of the amounts redeemed and issued during the fiscal year.
e. A statement of its proposed and projected activities.
f. Recommendations to the governor and general assembly, as it deems necessary.
2. The annual report shall identify performance goals of the authority, and clearly indicate the extent of progress during the reporting period, in attaining the goals.
85 Acts, ch 34, §14
CS85, §442A.14
C93, §257C.14
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257C - ADVANCE FUNDING AUTHORITY › Section 257C.15 - Assistance by state officers, agencies and departments.

257C.15 Assistance by state officers, agencies and departments.
State officers and state departments and agencies may render services to the authority within their respective functions as requested by the authority.
85 Acts, ch 34, §15
CS85, §442A.15
C93, §257C.15
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257C - ADVANCE FUNDING AUTHORITY › Section 257C.16 - Authority of schools.

257C.16 Authority of schools.
A school may issue and sell or pledge its notes to the authority or the authority’s designated agent or trustee. Schools may enter into contracts and agreements with the authority to effectuate the purposes of this chapter. In acting pursuant to this section, schools are exempt from all laws of the state which provide for competitive bids and hearings in connection with such sales, pledges, contracts and agreements.
85 Acts, ch 34, §16
CS85, §442A.16
C93, §257C.16
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 257C - ADVANCE FUNDING AUTHORITY › Section 257C.17 - Liberal interpretation.

257C.17 Liberal interpretation.
This chapter, being necessary for the welfare of this state and its people, shall be liberally construed to effect its purpose.
85 Acts, ch 34, §17
CS85, §442A.17
C93, §257C.17
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 258 - CAREER AND TECHNICAL EDUCATION › Section 258.1 - Federal Act accepted.

258.1 Federal Act accepted.
The provisions of the Act of Congress known as the Carl D. Perkins Career and Technical Education Improvement Act of 2006, codified at 20 U.S.C. §2301 et seq., as amended, and the benefit of all funds appropriated under said Act and all other Acts pertaining to career and technical education, are accepted.
[C24, 27, 31, 35, 39, §3837; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §258.1]
2006 Acts, ch 1030, §33; 2016 Acts, ch 1108, §36
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 258 - CAREER AND TECHNICAL EDUCATION › Section 258.2 - State board for career and technical education.

258.2 State board for career and technical education.
The state board of education shall constitute the state board for career and technical education.
[C24, 27, 31, 35, 39, §3838; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §258.2]
2016 Acts, ch 1108, §37; 2017 Acts, ch 29, §65
Referred to in §258.6
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 258 - CAREER AND TECHNICAL EDUCATION › Section 258.3 - Personnel.

258.3 Personnel.
The director of the department of education shall appoint and direct the work of personnel as necessary to carry out this chapter.
[C24, 27, 31, 35, 39, §3839; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §258.3]
85 Acts, ch 212, §21; 86 Acts, ch 1245, §1425
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 258 - CAREER AND TECHNICAL EDUCATION › Section 258.3A - Duties of state board.

258.3A Duties of state board.
The state board shall do all of the following:
1. Approve the multiyear state plan developed in accordance with applicable federal laws and regulations governing career and technical education.
2. Adopt rules prescribing standards for teachers in the six career and technical education service areas specified in section 256.11, subsection 5, paragraph “h”, in approved programs.
3. Adopt rules prescribing standards for approval of school district career and technical education programs; and community colleges with career and technical education programs; and practitioner preparation schools, departments, and classes, applying for federal and state moneys under this chapter.
4. Adopt rules prescribing standards for the career and technical education service areas specified in section 256.11, subsection 5, paragraph “h”.
5. Adopt rules prescribing standards for approval of career and technical education planning partnerships, collaborations, and regional centers in accordance with section 258.14. The rules shall establish a process for the establishment of no fewer than twelve and no greater than fifteen regions in which regional career and technical education planning partnerships may operate. The rules shall establish standards to ensure regional centers have appropriate educational programs, adequate participation, and are located within an appropriate distance of participating high schools and in a manner compatible with development of a statewide network of regional centers.
86 Acts, ch 1245, §1426; 89 Acts, ch 265, §30; 90 Acts, ch 1253, §8; 2016 Acts, ch 1108, §38; 2017 Acts, ch 29, §66
Referred to in §258.4, 258.5, 258.6, 258.14
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 258 - CAREER AND TECHNICAL EDUCATION › Section 258.5 - Reimbursement from federal and state moneys.

258.5 Reimbursement from federal and state moneys.
1. An approved regional career and technical education planning partnership is eligible to receive state funds for purposes allowed under section 258.14, subsection 6.
2. Federal funds received as a reimbursement for allowable expenditures shall be received pursuant to the multiyear state plan adopted pursuant to section 258.3A, subsection 1.
3. The director may use federal funds to reimburse approved practitioner preparation schools, departments, or classes for the training of teachers of agriculture, food, and natural resources; arts, communications, and information systems; applied sciences, technology, engineering, and manufacturing; health sciences; human services; and business, finance, marketing, and management. The director may also use such funds to reimburse approved practitioner preparation schools, departments, or classes for the training of guidance counselors.
[C24, 27, 31, 35, 39, §3841, 3844; C46, 50, §258.5, 258.8; C54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §258.5]
86 Acts, ch 1245, §1428; 89 Acts, ch 265, §32; 2016 Acts, ch 1108, §40; 2018 Acts, ch 1130, §2, 4
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 258 - CAREER AND TECHNICAL EDUCATION › Section 258.6 - Definitions.

258.6 Definitions.
As used in this chapter:
1. “Approved career and technical education program” means a career and technical education program offered by a school district or community college and approved by the department which meets the standards for career and technical education programs adopted by the state board under this chapter.
2. “Approved practitioner preparation school, department, or class” means a school, department, or class approved by the state board as entitled under this chapter to federal moneys for the training of teachers of career and technical education subjects.
3. “Approved regional career and technical education planning partnership” means a regional entity that meets the standards for regional career and technical education planning partnerships adopted by the state board pursuant to section 258.3A and section 258.14.
4. “Career academy” means a career academy established under section 258.15.
5. “Career and technical education service area” means any one of the service areas specified in section 256.11, subsection 5, paragraph “h”.
6. “Department” means the department of education.
7. “Director” means the director of the department of education.
8. “Sector partnership” means a regional industry sector partnership established pursuant to section 260H.7B.
9. “State board” means the state board for career and technical education as provided in section 258.2.
10. “Work-based learning” means opportunities and experiences that include but are not limited to tours, job shadowing, rotations, mentoring, entrepreneurship, service learning, internships, and apprenticeships.
11. “Work-based learning intermediary network” means the statewide work-based learning intermediary network established pursuant to section 256.40.
[C24, 27, 31, 35, 39, §3842; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §258.6]
89 Acts, ch 265, §33; 2014 Acts, ch 1092, §58; 2016 Acts, ch 1108, §41; 2017 Acts, ch 29, §68 – 70
Referred to in §258.4, 260C.18A, 261E.10
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 258 - CAREER AND TECHNICAL EDUCATION › Section 258.9 - Local advisory council.

258.9 Local advisory council.
1. The board of directors of a school district or community college that maintains a career and technical education program receiving federal or state funds under this chapter shall, as a condition of approval by the state board, appoint a local advisory council for each career and technical education program offered by the school district or community college. However, a school district and a community college that maintain a career and technical education program receiving federal or state funds may create a joint local advisory council. The membership of each local advisory council shall consist of public members with expertise in the occupation or occupational field related to the career and technical education program. The local advisory council shall give advice and assistance to the board of directors, administrators, and instructors in the establishment and maintenance of the career and technical education program.
2. Notwithstanding subsection 1, a regional advisory council established by a regional career and technical education planning partnership approved by the department pursuant to section 258.4 may serve in place of a local advisory council.
3. Local advisory councils are not subject to the requirements of section 69.16.
4. Members of an advisory council shall serve without compensation.
[C24, 27, 31, 35, 39, §3845; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §258.9]
86 Acts, ch 1245, §1431; 2016 Acts, ch 1108, §42; 2017 Acts, ch 29, §71
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 258 - CAREER AND TECHNICAL EDUCATION › Section 258.10 - Powers of district boards.

258.10 Powers of district boards.
1. The board of directors of a school district shall offer career and technical instruction in service areas as provided in section 256.11, subsection 5, paragraph “h”, and pay the expense of such instruction in the same way as the expenses for other subjects in the school district are paid.
2. The board of directors of a school district may establish and maintain work-based learning programs in collaboration with a regional work-based learning intermediary network established pursuant to section 256.40.
3. The board of directors of a school district may provide workers’ compensation coverage by insuring, or self-insuring as provided in section 87.4, students participating in unpaid work-based learning opportunities offered in accordance with section 256.40. A school district’s liability to students injured while participating in an unpaid work-based learning opportunity is as provided in section 85.20.
[C24, 27, 31, 35, 39, §3846; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §258.10]
97 Acts, ch 37, §6; 2016 Acts, ch 1108, §43
2023 Iowa Code › Title VII - EDUCATION AND CULTURAL AFFAIRS › Chapter 258 - CAREER AND TECHNICAL EDUCATION › Section 258.11 - Salary and expenses for administration.

258.11 Salary and expenses for administration.
The director may make expenditures for salaries and other expenses as necessary to the proper administration of this chapter.
[C24, 27, 31, 35, 39, §3847; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §258.11]
86 Acts, ch 1245, §1432; 88 Acts, ch 1134, §60; 2016 Acts, ch 1108, §44