Text: H09048 Text: H09050 Text: H09000 - H09099 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend the amendment, H-8824, to Senate File 2338, 1 2 as amended, passed, and reprinted by the Senate, as 1 3 follows: 1 4 #1. Page 3, by inserting after line 49 the 1 5 following: 1 6 "Sec. ___. Section 296.1, Code 1999, is amended to 1 7 read as follows: 1 8 296.1 INDEBTEDNESS AUTHORIZED. 1 9 Subject to the approval of the voters thereof, 1 10 school districts are hereby authorized to contract 1 11 indebtedness and to issue general obligation bonds to 1 12 provide funds to defray the cost of purchasing, 1 13 building, furnishing, reconstructing, repairing, 1 14 improving, or remodeling a schoolhouse or schoolhouses 1 15 and additions thereto, gymnasium, stadium, field 1 16 house, school bus garage, teachers' or 1 17 superintendent's home or homes, and procuring a site 1 18 or sites therefor, or purchasing land to add to a site 1 19 already owned, or procuring and improving a site for 1 20 an athletic field, or improving a site already owned 1 21 for an athletic field, and for any one or more of such 1 22 purposes. Taxes for the payment of said bonds shall 1 23 be levied in accordance with chapter 76, andsaidsuch 1 24 bonds shall mature within a period not exceeding 1 25 twenty years from date of issue, shall bear interest 1 26 at a rate or rates not exceeding that permitted by 1 27 chapter 74A, and shall be of such form as the board of 1 28 directors of such school district shall by resolution 1 29 provide, but the aggregate indebtedness of any school 1 30 district shall not exceed five percent of the actual 1 31 value of the taxable property withinsaidthe school 1 32 district, as ascertained by the last preceding state 1 33 and county tax lists. The bonds may be sold at public 1 34 or private sale at a price as may be determined by the 1 35 board of directors. Such bonds may be sold at not 1 36 less than ninety-eight percent of par or may be 1 37 exchanged for other bonds at not less than ninety- 1 38 eight percent of par. 1 39 Sec. . Section 298.22, unnumbered paragraph 1, 1 40 Code 1999, is amended to read as follows: 1 41 All of said bonds shall be substantially in the 1 42 form provided for county bonds, but subject to changes 1 43 that will conform them to the action of the board 1 44 providing therefor; shall run not more than twenty 1 45 years, and may be sooner paid if so nominated in the 1 46 bond; bear a rate of interest not exceeding that 1 47 permitted by chapter 74A, payable semiannually; be 1 48 signed by the president and countersigned by the 1 49 secretary of the board of directors; andshall not be1 50disposed of for less than par value, nor issued for2 1other purposes than this chapter providesbe sold at 2 2 public or private sale at a price as may be determined 2 3 by the board of directors. Such bonds may be sold at 2 4 not less than ninety-eight percent of par or may be 2 5 exchanged for other bonds at not less than ninety- 2 6 eight percent of par. 2 7 Sec. . Section 422E.4, unnumbered paragraph 1, 2 8 Code Supplement 1999, is amended to read as follows: 2 9 The board of directors of a school district shall 2 10 be authorized to issue negotiable, interest-bearing 2 11 school bonds, without election, and utilize tax 2 12 receipts derived from the sales and services tax for 2 13 school infrastructure purposes for principal and 2 14 interest repayment. Proceeds of the bonds issued 2 15 pursuant to this section shall be utilized solely for 2 16 school infrastructure needs as school infrastructure 2 17 is defined in section 422E.1, subsection 3. Issuance 2 18 of bonds pursuant to this section shall be permitted 2 19 only in a district which has imposed a local sales and 2 20 services tax for school infrastructure purposes 2 21 pursuant to section 422E.2. The provisions of 2 22 sections 298.22 through 298.24 shall apply regarding 2 23 the form, rate of interest, registration, redemption, 2 24 and recording of bond issues pursuant to this section, 2 25 with the exception that the maximum period during 2 26 which principal on the bonds is payable shall not 2 27 exceed a ten-year period, or the date of repeal stated 2 28 on the ballot proposition. Bonds issued pursuant to 2 29 this section may be sold at public or private sale at 2 30 a price as may be determined by the board of directors 2 31 of the school district. Such bonds may be sold at not 2 32 less than ninety-eight percent of par or may be 2 33 exchanged for other bonds at not less than ninety- 2 34 eight percent of par."" 2 35 #2. By renumbering as necessary. 2 36 2 37 2 38 2 39 GRUNDBERG of Polk 2 40 SF 2338.203 78 2 41 rn/gg
Text: H09048 Text: H09050 Text: H09000 - H09099 Text: H Index Bills and Amendments: General Index Bill History: General Index
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