Iowa Code 218.94 – Director may buy and sell real estate — options — fund
Current as of: 2024 | Check for updates
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1. a. The director may secure options to purchase real estate, to acquire and sell real estate, and to grant utility easements, for the proper uses of the institutions. Real estate shall be acquired and sold and utility easements granted, upon such terms and conditions as the director may determine. Upon sale of the real estate, the proceeds shall be deposited in a health and human services capital reinvestment fund created in the state treasury under the control of the department. There is appropriated from such capital reinvestment fund a sum equal to the proceeds deposited and credited to the capital reinvestment fund to the department, which may be used to purchase other real estate, for capital improvements upon property under the director’s control, or for improvements to property which is owned by the state and utilized by the department.
b. Notwithstanding section 8.33, moneys in the capital reinvestment fund shall not revert at the close of a fiscal year, and shall not be transferred, used, obligated, appropriated, or otherwise encumbered, except as provided in this section. Notwithstanding section 12C.7, subsection 2, interest or earnings on moneys deposited in the fund shall be credited to the fund.
c. Any proceeds from the sale of real estate that were credited to the general fund of the state pursuant to section 218.94, Code 2022, and that remain available on June 30, 2023, are transferred to the capital reinvestment fund to be used for the purposes of the fund.
Terms Used In Iowa Code 218.94
- Department: means the department of health and human services. See Iowa Code 249L.2
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Institution: means a birthing hospital. See Iowa Code 252A.2
- property: includes personal and real property. See Iowa Code 4.1
- 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
2. The costs incident to securing of options, acquisition and sale of real estate and granting of utility easements, including but not limited to appraisals, invitations for offers, abstracts, and other necessary costs, may be paid from moneys appropriated for support and maintenance to the institution at which the real estate is located and the source from which the moneys were appropriated shall be reimbursed from the proceeds of the sale.