Iowa Code § 15.467: Authority’s powers.

The authority shall:

1. Accept any federal funds granted by Act of Congress or by executive order for any purposes of this part, and receive and disburse as the official agent of the state any funds made available by the national endowment for the arts.

2. Accept gifts, contributions, endowments, bequests, or other moneys available for any purposes of this part. Interest earned on the gifts, contributions, endowments, bequests, or other moneys accepted under this part shall be credited to the fund or funds to which the gifts, contributions, endowments, bequests, or other moneys have been deposited, and is available for any purposes of the authority under this part.