Text: S03106 Text: S03108 Text: S03100 - S03199 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend Senate File 160 as follows:
1 2 #1. Page 6, by inserting after line 29 the
1 3 following:
1 4 " . A loan agreement entered into by a
1 5 municipality under this program shall contain a
1 6 provision requiring the municipality to set aside ten
1 7 percent of the loan amount in a maintenance and upkeep
1 8 account. Funds in that account shall be used for
1 9 repairs to the property while it is owned by the
1 10 municipality. Prior to the sale of property all
1 11 necessary repairs shall be made by the municipality.
1 12 If the property is sold by the municipality, funds
1 13 remaining in the account shall be used to repay the
1 14 loan amount. Excess funds in the account after the
1 15 loan amount is repaid shall revert to the Iowa finance
1 16 authority to be used for the purposes of this
1 17 program."
1 18 #2. Page 8, by inserting after line 34 the
1 19 following:
1 20 "If the municipality has not sold housing units
1 21 owned by the municipality by the fifth year following
1 22 the construction of the housing units, the Iowa
1 23 finance authority may bundle individual housing units
1 24 for sale by public bid or auction."
1 25 #3. By renumbering as necessary.
1 26
1 27
1 28
1 29 ALLEN BORLAUG
1 30 SF 160.502 76
1 31 mk/jw
Text: S03106 Text: S03108 Text: S03100 - S03199 Text: S Index Bills and Amendments: General Index Bill History: General Index
Iowa General Assembly
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