Text: HSB00020 Text: HSB00022 Text: HSB00000 - HSB00099 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 331.430, subsection 3, Code 1997, is 1 2 amended to read as follows: 1 3 3. A tax levied for the debt service fund is not invalid 1 4 if it raises moneys in excess of those needed for a specific 1 5 purpose. Such funds shall remain in the debt service fund and 1 6 shall not be transferred to the general fund, or otherwise 1 7 transferred to meet a general fund obligation. Only excess 1 8 moneys remaining after retirement of all indebtedness payable 1 9 from the debt service fund may be transferred from the fund to 1 10 the fund most closely related to the project for which the 1 11 indebtedness arose,or to the general fund,subject to the 1 12 terms of the original bond issue. This subsection shall not 1 13 be construed to give a county board of supervisors authority 1 14 to increase the debt service levy for the purpose of creating 1 15 excess moneys in the fund to be used for purposes other than 1 16 those related to retirement of debt. 1 17 EXPLANATION 1 18 This bill provides that county boards of supervisors are 1 19 not authorized to transfer excess moneys in the debt service 1 20 fund to the general fund of the county or to transfer the 1 21 moneys to satisfy a general fund obligation. 1 22 LSB 1735HC 77 1 23 sc/jj/8
Text: HSB00020 Text: HSB00022 Text: HSB00000 - HSB00099 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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