Iowa Code 12A.10 – State law
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Terms Used In Iowa Code 12A.10
- Bonds: means bonds, including refunding bonds, notes, and other obligations issued by an issuer. See Iowa Code 12A.1
- Contract: A legal written agreement that becomes binding when signed.
- 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. See Iowa Code 12A.1
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
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.