28A.22 Funds of the authority.
133 words·~1 min read·
/ia/chapter-28a-quad-cities-interstate-metropolitan-authority-compact/28a-22·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Moneys of an authority shall be paid to the treasurer of the authority who shall not commingle the moneys with any other moneys, but shall deposit them in a separate account or accounts. Moneys in the accounts shall be paid out on check of the treasurer on requisition of the chairperson of the authority, or of another person as the authority may authorize to make the requisition. An authority may deposit any of its rates, fees, rentals, or other charges, receipts, or income with any bank or trust company that is federally insured and may deposit the proceeds of any bonds issued with any bank or trust company that is federally insured, all as may be provided in any agreement with the holders of bonds issued under this subchapter.
CS91, §330B.22
C93, §28A.22