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House Journal: Page 1657: Tuesday, April 16, 1996

Page   9

 1   million dollars in a fiscal year shall be deposited in
 2   the infrastructure fund and shall be used as provided
 3   in this section, notwithstanding section 8.60.
 4     NEW PARAGRAPH.  f.  Beginning July 1, 1997, and
 5   each fiscal year thereafter, fifteen million dollars
 6   is appropriated from the infrastructure fund, to the
 7   department of revenue and finance to be used to
 8   provide matching funds for counties, cities, or school
 9   districts that have approved a bond issuance by
10   referendum in accordance with section 16.203."
11     18.  Page 12, by inserting after line 30 the
12   following:
13     "Sec. ___.  NEW SECTION.  16.203  VERTICAL
14   INFRASTRUCTURE BONDING MATCH PROGRAM.
15     1.  The authority shall create a vertical
16   infrastructure bonding match program to provide
17   matching moneys for counties, cities, and school
18   districts that have approved a bond issuance by
19   referendum for the purpose of constructing or
20   renovating vertical infrastructure.  "Vertical
21   infrastructure" means the same as defined in section
22   8.57, subsection 5, paragraph "c".
23     2.  The matching moneys provided under this section
24   shall be in an amount of up to ten percent of the
25   amount of the vertical infrastructure project or one
26   million dollars, whichever is less.  Moneys shall be
27   distributed under this section in any one fiscal year
28   only until the fifteen million dollars allocated
29   pursuant to section 8.57, subsection 5, paragraph "f",
30   has been expended.
31     3.  Funding shall be limited to only one political
32   entity within a county in any fiscal year.  For
33   purposes of this subsection, "political entity" means
34   a county or city or school district located within one
35   or more counties, or any of the above who have entered
36   into a chapter 28E agreement.  For political entities
37   that are located in one or more counties, the
38   limitation on one political entity within one county
39   in this subsection shall be determined as follows:
40     a.  For cities, the county in which the majority of
41   the population resides.
42     b.  For school districts, the county in which the
43   majority of the students reside.
44     4.  To be eligible to receive matching moneys, a
45   county, city, or school district shall do all of the
46   following:
47     a.  Obtain a preapproval letter of commitment prior
48   to the bond issuance referendum.  To obtain
49   preapproval under this section, the applicant must
50   submit a five-year vertical infrastructure plan in

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 2)

© 1996 Cornell College and League of Women Voters of Iowa

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Last update: Wed Apr 17 13:30:02 CDT 1996
URL: /DOCS/GA/76GA/Session.2/HJournal/01600/01657.html
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