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House Journal: Page 1683: Tuesday, April 16, 1996

Page  35

 1   thousand dollars of the assessed value of the taxable
 2   property within the county to pay the principal of and
 3   interest on the bonds?
 4     If the proposition includes only increasing the
 5   levy limit it shall be in substantially the following
 6   form:
 7     Shall the county of	,	 state of Iowa, be
 8   authorized to levy annually a debt service property
 9   tax (or debt service property tax and income surtax to
10   offset the property tax, if applicable), which will
11   produce an amount not exceeding	  dollars and	 
12   cents per thousand dollars of the assessed value of
13   the taxable property within the county to pay
14   principal and interest on the bonded indebtedness of
15   the county for the purpose of	?
16     Sec. ___.  Section 331.490, Code 1995, is amended
17   to read as follows:
18     331.490  CITIES SUBJECT TO DEBT SERVICE TAX LEVY -
19   RATES.
20     1.  If a county and city have entered into an
21   agreement to create a joint special assessment
22   district and issue county general obligation bonds to
23   fund the costs of a public improvement benefiting that
24   district, the county's debt service property tax levy
25   for the county general obligation bonds shall not be
26   levied against property located in any city except a
27   city which has entered into the agreement, and, if
28   applicable, the county's debt service income surtax
29   for the county general obligation bonds shall not be
30   imposed on taxpayers who reside in any city except a
31   city which has entered into the agreement.
32     2.  Counties and cities entering into an agreement
33   for a joint special assessment district may provide in
34   the agreement for a different rate of the county's
35   debt service tax levy against property in areas of the
36   county outside a city and property within the cities,
37   and, if applicable, for a different rate of the
38   county's debt service income surtax to be imposed on
39   taxpayers residing outside the cities and those
40   residing within each city.
41     Sec. ___.  Section 384.26, subsection 2, Code
42   Supplement 1995, is amended to read as follows:
43     2.  Before the council may institute proceedings
44   for the issuance of bonds for a general corporate
45   purpose, it shall call a special city election to vote
46   upon the question of issuing the bonds.  At the
47   election the proposition must be submitted in
48   substantially the following form:
49     Shall the	 (insert	 the name of the
50   city) issue its bonds in an amount not exceeding the

Iowa General Assembly

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

© 1996 Cornell College and League of Women Voters of Iowa

Comments? hjourn@legis.iowa.gov.

Last update: Wed Apr 17 13:30:02 CDT 1996
URL: /DOCS/GA/76GA/Session.2/HJournal/01600/01683.html
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