Text: S05611 Text: S05613 Text: S05600 - S05699 Text: S Index Bills and Amendments: General Index Bill History: General Index
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PAG LIN 1 1 Amend Senate File 2370 as follows: 1 2 #1. Page 1, by inserting before line 1 the 1 3 following: 1 4 "Section 1. Section 28F.1, Code 1995, is amended 1 5 by striking the section and inserting in lieu thereof 1 6 the following: 1 7 28F.1 SCOPE OF CHAPTER. 1 8 This chapter provides a means to reduce the cost of 1 9 local government by assisting public agencies in the 1 10 undertaking of joint financing and is intended to 1 11 provide specific state legislation consistent with 1 12 criteria established by regulations and rulings of the 1 13 commissioner of internal revenue, United States 1 14 department of treasury, in order for a separate joint 1 15 financing entity to be treated as a constituted 1 16 authority empowered to issue obligations on behalf of 1 17 political subdivisions of this state. This chapter 1 18 provides a means for the joint financing by public 1 19 agencies of works or facilities which are part of any 1 20 city enterprise as defined in section 384.24, county 1 21 enterprise as defined in section 331.461, city utility 1 22 as defined in section 362.2, joint water utility as 1 23 defined in section 389.1, or sanitary district as 1 24 defined in chapter 358. This chapter applies to the 1 25 acquisition, construction, reconstruction, ownership, 1 26 operation, repair, extension, or improvement of the 1 27 works or facilities, by a separate administrative or 1 28 legal entity created pursuant to chapter 28E or 1 29 chapter 389. When the legal entity created under this 1 30 chapter is comprised solely of cities, counties, or 1 31 sanitary districts established under chapter 358 or 1 32 any combination of these political subdivisions, or 1 33 any combination of the public agencies previously 1 34 specified in this section with other public agencies, 1 35 the entity shall be both a corporation and a political 1 36 subdivision with the name under which it was 1 37 organized. The legal entity may sue and be sued, 1 38 contract, acquire and hold real and personal property 1 39 necessary for corporate purposes, adopt a corporate 1 40 seal and alter the seal at pleasure, and execute all 1 41 powers conferred by this chapter. 1 42 Sec. 2. Section 28F.2, Code 1995, is amended to 1 43 read as follows: 1 44 28F.2 DEFINITIONS. 1 45 The terms "public agency", "state", and "private 1 46 agency" shall have the meanings prescribed by section 1 47 28E.2. The term "project" or "projects" shall mean 1 48 any works or facilities referred to in section 28F.1 1 49 and shall include all property real and personal, 1 50 pertinent thereto or connected with such project or 2 1 projects, and the existing works or facilities, if 2 2 any, to which such project or projects are an 2 3 extension, addition, betterment, or improvement. 2 4"Electric power agency" means an entity financing or2 5acquiring electric power facilities pursuant to this2 6chapter or chapter 28E.2 7 Sec. 3. Section 28F.7, unnumbered paragraph 2, 2 8 Code 1995, is amended by striking the paragraph." 2 9 #2. Title page, line 4, by inserting after the 2 10 word "research" the following: "and allowing for 2 11 joint financing for municipal utilities". 2 12 #3. By renumbering as necessary. 2 13 2 14 2 15 2 16 ROD HALVORSON 2 17 SF 2370.507 76 2 18 js/jw
Text: S05611 Text: S05613 Text: S05600 - S05699 Text: S Index Bills and Amendments: General Index Bill History: General Index
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