Iowa Constitution
Article VII - STATE DEBTS.
§ 2 Limitation.
The state may contract debts to
supply casual deficits or failures in revenues, or to meet expenses not
otherwise provided for; but the aggregate amount of such debts, direct
and contingent, whether contracted by virtue of one or more Acts of the
general assembly, or at different periods of time, shall never exceed
the sum of two hundred and fifty thousand dollars; and the money arising
from the creation of such debts, shall be applied to the purpose for
which it was obtained, or to repay the debts so contracted, and to no
other purpose whatever.
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