Iowa Code 262.38 – Borrowing money and mortgaging property
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In carrying out the powers enumerated in this subchapter, the board may:
1. Borrow money.
Terms Used In Iowa Code 262.38
- Property: means a tangible object, animate or inanimate, under a museum's care which has intrinsic historic, artistic, scientific, or cultural value. See Iowa Code 305B.2
2. Mortgage any real estate so acquired and the improvements erected thereon in order to secure necessary loans.
3. Pledge the rents, profits, and income received from any such property for the discharge of mortgages so executed.