Text: HF02063 Text: HF02065 Text: HF02000 - HF02099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 16.101, Code 1999, is amended by adding 1 2 the following new subsection: 1 3 NEW SUBSECTION. 4A. The pooling of public school bond 1 4 issues enhances the marketability of the obligations involved 1 5 and reduces costs for the school districts issuing the bonds. 1 6 Sec. 2. Section 16.102, Code 1999, is amended by adding 1 7 the following new subsection: 1 8 NEW SUBSECTION. 4. A project defined in section 16.108, 1 9 for which bonds or notes may be issued by a school district. 1 10 Sec. 3. NEW SECTION. 16.108 SCHOOL DISTRICT BOND 1 11 PROGRAM. 1 12 1. The authority may issue its bonds or notes, or series 1 13 of bonds or notes, for the purpose of pooling obligations of 1 14 two or more school districts for financing projects for which 1 15 debt obligations may be or have been incurred pursuant to 1 16 chapter 296 or 298. Sections 16.103 through 16.106 shall 1 17 apply with respect to the issuance of these bonds or notes or 1 18 the disposition of proceeds of these bonds or notes. 1 19 2. For the purposes of this section, "project" means any 1 20 undertaking by a school district for which financing is 1 21 authorized under chapter 296 or 298, and "school district" 1 22 means a public school district as defined in chapter 274. 1 23 EXPLANATION 1 24 This bill allows the Iowa finance authority to include 1 25 school district general obligation bond issues under its Iowa 1 26 economic development bond bank program. Under the program, 1 27 the authority would issue bonds and notes to finance the 1 28 pooling of school district general obligation bond issues in 1 29 order to lower the costs for the schools of incurring the debt 1 30 obligation. 1 31 LSB 5534YH 78 1 32 sc/gg/8
Text: HF02063 Text: HF02065 Text: HF02000 - HF02099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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