1. The fund is appropriated for and shall be used in the establishment, construction, improvement and maintenance of roads and streets which promote economic development in the state by having any of the following effects:
a. Improving or maintaining highway access to specific development sites, including existing and future industrial locations.
b. Improving or maintaining highway access between urban centers or between urban centers and the interstate road system as defined in section 306.3.
c. Improving or maintaining highway access to economically depressed areas of the state.
d. Improving or maintaining highway access to points of shipment or processing of products.
e. Improving or maintaining highway access to trucking terminals and places of embarkation or shipment by other transportation modes.
f. Improving or maintaining highway access to scenic, recreational, historic and cultural sites or other locations identified as tourist attractions.
2. The fund is also appropriated and shall be used for the reimbursement or payment to cities or counties of all or part of the interest and principal on general obligation bonds issued by cities or counties for the purpose of financing approved road and street projects meeting the requirements of subsection 1.
3. The state transportation commission may authorize the temporary transfer of funds between the department's share of the RISE fund under section 315.4 and the primary road fund in an amount not to exceed forty million dollars at one time. Transferred funds shall be repaid not later than July 1, 1993. The commission shall manage the RISE fund to ensure that funds will be available to meet contract obligations on approved RISE projects.
85 Acts, ch 231, §4; 88 Acts, ch 1019, §10
Referred to in § 315.5
© 1997 Cornell College and League of Women Voters of Iowa
Last update: Mon Jan 27 16:05:08 CST 1997