All contracts entered into pursuant to this part 3 of division III shall be subject to approval of the attorney general as to form. All payments by the state pursuant to such contracts shall be made after review and by warrant of the director of revenue and finance to the credit of the municipality and shall be used for the payment of costs of construction of an eligible project. However, if such costs have been paid by the municipality, then such payment may be used by the municipality for:
1. The payment of outstanding bonds or obligations incurred for any such eligible project.
2. Any improvement or extension of an eligible project.
3. Any other lawful municipal purpose determined to be necessary, reasonable, and in the interest of the public welfare.
[C71, § 455C.6; C73, 75, 77, 79, 81, § 455B.72]
C83, § 455B.246
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Last update: Mon Jan 22 17:13:42 CST 2001
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