Iowa § 261A.46 - 261A.46 Obligations not liability of state or political subdivision.
Full text of Iowa Iowa Code § 261A.46 — 261A.46 Obligations not liability of state or political subdivision., with citation guidance and answers to common questions.
§ 261A.46. 261A.46 Obligations not liability of state or political subdivision.
Obligations issued pursuant to this subchapter are not debts of the state or of any political subdivision of the state or a pledge of the faith and credit of the state or of any political subdivision, but the obligations are limited obligations of the authority payable solely from the funds or securities, pledged for their payment as authorized in this subchapter, unless the obligations are refunded by refunding obligations issued under this subchapter, which refunding obligations shall be payable solely from funds or securities pledged for their payment as authorized in this subchapter. All revenue obligations shall contain on their face a statement to the effect that the obligations, as to both principal and interest, are not obligations of the state, or of any political subdivision of the state, but are limited obligations of the authority payable solely from revenue or securities pledged for their payment. Expenses incurred in carrying out this subchapter are payable solely from funds provided under this subchapter, and this subchapter does not authorize the authority to incur indebtedness or liability on behalf of or payable by the state or any political subdivision of the state. 85 Acts, ch 210, §16; 2017 Acts, ch 54, §76 Thu Dec 11 19:23:06 2025 Iowa Code 2026, Section 261A.46 (23, 0)
Source: official Iowa text · Last verified 2026-08-27
Frequently Asked Questions About Iowa § 261A.46
What does Iowa Code § 261A.46 cover?
Section 261A.46 ("261A.46 Obligations not liability of state or political subdivision.") is part of the Iowa Code, the codified statutory law of Iowa. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Iowa § 261A.46?
A common citation format is "Iowa Code § 261A.46" (Iowa). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Iowa law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Iowa official source linked on this page or consult a licensed Iowa attorney.
How does Iowa § 261A.46 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Iowa can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Iowa.