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House Journal: Page 1679: Tuesday, April 16, 1996

Page  31

 1   and additions thereto, gymnasium, stadium, field
 2   house, school bus garage, teachers' or
 3   superintendent's home or homes, and procuring a site
 4   or sites therefor, or purchasing land to add to a site
 5   already owned, or procuring and improving a site for
 6   an athletic field, or improving a site already owned
 7   for an athletic field, and for any one or more of such
 8   purposes.  Taxes for the payment of said the bonds
 9   shall be levied or imposed in accordance with chapter
10   76, and said the bonds shall mature within a
period
11   not exceeding twenty years from date of issue the
12   period provided in section 76.1, shall bear interest
13   at a rate or rates not exceeding that permitted by
14   chapter 74A and shall be of such form as the board of
15   directors of such the school district shall by
16   resolution provide, but the aggregate indebtedness of
17   any school district shall not exceed five percent of
18   the actual value of the taxable property within said
19   the school district, as ascertained by the last
20   preceding state and county tax lists.
21     Sec. ___.  Section 296.6, Code 1995, is amended to
22   read as follows:
23     296.6  BONDS.
24     If the vote in favor of the issuance of such bonds
25   is equal to at least sixty percent of the total vote
26   cast for and against said the proposition at
said the
27   election, the board of directors shall issue the same
28   bonds and make provision for payment thereof of
the
29   bonds.  However, if the board of directors of a
school
30   district elects to offset the annual property tax levy
31   with revenues from an income surtax pursuant to
32   section 76.21, the ballot proposition to authorize the
33   issuance of the bonds shall be submitted to the
34   electorate pursuant to section 75.1, subsection 2.
35     Sec. ___.  Section 298.14, unnumbered paragraph 1,
36   Code 1995, is amended to read as follows:
37     For each fiscal year, the cumulative total of the
38   percents of surtax approved by the board of directors
39   of a school district and collected by the department
40   of revenue and finance under sections 257.21, 257.29,
41   279.54, and 298.2, and the enrichment surtax under
42   section 442.15, Code 1989, and an income surtax
43   collected by a political subdivision under chapter
44   422D, shall not exceed twenty percent.  In addition,
45   if an income surtax is imposed under section 76.19,
46   the cumulative total of percents of surtax imposed on
47   any taxpayer in a school district under sections
48   76.19, 257.21, 257.29, 279.54, 298.2, 442.15, Code
49   1989, and chapter 422D shall not exceed twenty percent
50   in the first year in which one or more of these income

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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URL: /DOCS/GA/76GA/Session.2/HJournal/01600/01679.html
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