2009 Iowa Code
Title 8 - Transportation
Subtitle 1 - Highways and Waterways
CHAPTER 315 - REVITALIZE IOWA'S SOUND ECONOMY FUND
315.3 - USE OF FUND.

        315.3  USE OF FUND.
         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. a.  If the state transportation commission receives and
      files a letter from the director of transportation certifying that
      federal funding is not forthcoming due to the failure of the United
      States Congress to pass and the president of the United States to
      approve legislation providing long-term federal transportation
      funding to the state of Iowa, the commission may authorize the
      temporary transfer of funds from the RISE fund to the primary road
      fund.  Transferred funds shall be repaid to the RISE fund within
      three months of transfer.
         b.  If the state transportation commission receives and files
      a letter from the director of transportation certifying that the cash
      flow funding of the department may be inadequate to meet anticipated
      road construction costs, the commission may authorize the temporary
      transfer of funds from the RISE fund to the primary road fund.  Funds
      transferred under this paragraph shall be repaid to the RISE fund
      within six months of transfer.
         c.  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; 98 Acts, ch 1001, §1,
      2; 2001 Acts, ch 180, §6
         Referred to in § 315.5