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Page 27 1 during each year. 2 The revenues derived from the levies shall be 3 placed in a separate cash reserve fund. 4 Notwithstanding subsection 3, moneys from the cash 5 reserve fund established by a merged area under 6 subsection 3 or this subsection shall be used only to 7 alleviate temporary cash shortages and for the 8 acquisition, lease, lease-purchase, installation, and 9 maintenance of instructional technology equipment, 10 including hardware and software, materials and 11 supplies, and staff development and training related 12 to instructional technology. If moneys from the cash 13 reserve fund are used to alleviate a temporary cash 14 shortage, the cash reserve fund shall be reimbursed 15 immediately from the general fund of the community 16 college as funds in the general fund become available, 17 but in no case later than June 30 of the current 18 fiscal year, to repay the funds taken from the cash 19 reserve fund. 20 Sec. 31. Section 260C.29, subsection 3, Code 21 Supplement 1995, is amended by adding the following 22 new paragraphs: 23 NEW PARAGRAPH. f. Contract with other community 24 colleges to expand the availability of program 25 services and increase the number of students served by 26 the program. 27 NEW PARAGRAPH. g. Establish a separate account, 28 which shall consist of all appropriations, grants, 29 contributions, bequests, endowments, or other moneys 30 or gifts received specifically for purposes of the 31 program by the community college administering the 32 program as provided in subsection 2. Not less than 33 eighty percent of the funds received from state 34 appropriations for purposes of the program shall be 35 used for purposes of assistance to students as 36 provided in subsection 5. 37 Sec. 32. Section 260C.34, Code 1995, is amended to 38 read as follows: 39 260C.34 USES OF FUNDS. 40 Funds obtained pursuant to section 260C.17; section 41 260C.18, subsections 3, 4, and 5of section 260C.18; 42sectionand sections 260C.18A, 260C.18B, 260C.19;, and 43section260C.22 shall not be used for the construction 44 or maintenance of athletic buildings or grounds but 45 may be used for a project under section 260C.56. 46 Sec. 33. Section 260C.39, unnumbered paragraph 5, 47 Code 1995, is amended to read as follows: 48 The terms of employment of personnel, for the 49 academic year following the effective date of the 50 agreement to combine the merged areas shall not be
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