Iowa Code 260C.57 – Authorization — contracts — title
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Terms Used In Iowa Code 260C.57
- Board: means a board of directors of a community college. See Iowa Code 260C.56
- Bonds: means revenue bonds which are payable solely as provided in this section and section 260C. See Iowa Code 260C.71
- Bonds or notes: means revenue bonds or revenue notes which are payable solely from net rents, profits, and other income derived from the operation of residence halls, dormitories, incidental facilities, and additions. See Iowa Code 260C.56
- Community college: means a publicly supported school which may offer programs of adult and continuing education, lifelong learning, community education, and up to two years of liberal arts, preprofessional, or occupational instruction partially fulfilling the requirements for a baccalaureate degree but confers no more than an associate degree; or which offers as the whole or as part of the curriculum up to two years of career and technical education, training, or retraining to persons who are preparing to enter the labor market. See Iowa Code 260C.2
- Merged area: means an area where two or more school systems or parts of school systems merge resources to operate a community college in the manner provided in this chapter. See Iowa Code 260C.2
- Project: means the acquisition by purchase, lease in accordance with section 260C. See Iowa Code 260C.56
- 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
- Student: means a person who enrolls in or seeks to enroll in a course of instruction offered or conducted by a school. See Iowa Code 261B.2
Subject to and in accordance with the provisions of this subchapter, the board of directors of each community college is hereby authorized to undertake and carry out any project at a community college under the board’s control and to operate, control, maintain, and manage student residence halls and dormitories, including dining and other incidental facilities, and additions to such buildings at each of said institutions. All contracts for the construction, reconstruction, completion, equipment, improvement, repair or remodeling of any buildings, additions or facilities shall be let in accordance with the provisions of section 260C.19. The title to all real estate acquired under the provisions of this subchapter and the improvements erected on the real estate shall be taken and held in the name of the merged area. The board is authorized to rent the rooms in such residence halls and dormitories to the students, officers, guests and employees of the institutions at such rates, fees or rentals as will provide a reasonable return upon the investment, but which will in any event produce net rents, profits and income sufficient to insure the payment of the principal of and interest on all bonds or notes issued to pay any part of the cost of any project and refunding bonds or notes issued pursuant to the provisions of this subchapter and to insure that no property tax revenues will be needed to retire the bonds or notes.