Iowa Admin. Code r. 605-14.8 - Flood project fund
(1)
Each governmental entity that has a project approved by the board and is
awarded funds from either the flood mitigation fund or sales tax increment fund
shall create a separate flood project fund. The fund shall be used to pay the
costs associated with the governmental entity 's approved project , to reimburse
the governmental entity for the costs of the approved project incurred after
the project 's approval, and to pay the principal and interest on bonds issued
pursuant to Iowa Code section 418.14.
(2) The governmental entity may deposit any
other moneys lawfully received into the fund. Other moneys include but are not
limited to local sales and services tax receipts collected under Iowa Code
chapter 423 B.
Notes
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