House Journal: Page 716: Thursday, March 20, 2003
17 7. Page 10, line 8, by striking the letter "b."
18 and inserting the following: "(2)".
19 8. Page 10, by inserting after line 12 the
20 following:
21 "2. The director may establish the following
22 revolving funds to be used for the purposes specified:
23 a. An operating fund to provide for and fund
24 information technology services as permitted under
25 article 2.
26 b. One revolving fund established by the director
27 by rule to be used for a particular purpose authorized
28 by this chapter and as specified by the director in
29 the rule."
30 9. Page 13, by inserting after line 6 the
31 following:
32 "f. The Iowa lottery."
33 10. Page 21, line 15, by striking the figure
34 "III" and inserting the following: "3".
35 11. Page 31, line 29, by inserting after the word
36 "bid." the following: "Contracts not based on
37 competitive bidding shall be awarded on the basis of
38 bidder competence and reasonable price."
39 12. Page 131, by inserting after line 10 the
40 following:
41 "Sec. . Section 97.51, subsection 1, Code 2003,
42 is amended to read as follows:
43 1. The treasurer of state is the custodian and
44 trustee of this fund and shall administer the fund in
45 accordance with the directions of the department of
46 personnel Iowa public employees' retirement system
47 created in section 97B.1. It is the duty of the
48 trustee:
49 a. To hold said trust funds.
50 b. Under the direction of the department and as
Page 2
1 designated by the department, invest such portion of
2 said trust funds as are not needed for current payment
3 of benefits, in interest-bearing securities issued by
4 the United States, or interest-bearing bonds issued by
5 the state of Iowa, or bonds issued by counties, school
6 districts or general obligations or limited levy bonds
7 issued by municipal corporations in this state as
8 authorized by law; also to sell and dispose of same
9 when needed for the payment of benefits.
10 c. To disburse the trust funds upon warrants drawn
11 by the director of revenue and finance pursuant to the
12 order of the department of personnel Iowa public
13 employees' retirement system created in section 97B.1.
14 Sec. ___. Section 97.51, subsection 3, Code 2003,
15 is amended to read as follows:
© 2003 Cornell College and
League of Women Voters of Iowa
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Last update: Tue Jul 15 13:55:01 CDT 2003
URL: /DOCS/GA/80GA/Session.1/HJournal/00700/00716.html
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