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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