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PAG LIN
1 1 SENATE FILE 2447
1 2
1 3 AN ACT
1 4 RELATING TO PUBLIC IMPROVEMENTS AND PROVIDING FINANCIAL ASSIS-
1 5 TANCE TO COMMUNITIES AND SCHOOL DISTRICTS BY CREATING A SCHOOL
1 6 INFRASTRUCTURE PROGRAM AND FUND, CONTINUING THE COMMUNITY
1 7 ATTRACTION AND TOURISM PROGRAM AND FUND, CREATING A VISION
1 8 IOWA BOARD, CREATING A VISION IOWA PROGRAM AND FUND, PROVIDING
1 9 BONDING AUTHORITY TO THE TREASURER OF STATE, AND EXEMPTING
1 10 CERTAIN INCOME FROM TAXATION.
1 11
1 12 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 13
1 14 DIVISION I
1 15 SUBCHAPTER I
1 16 VISION IOWA BOARD
1 17 Section 1. NEW SECTION. 15F.101 DEFINITIONS.
1 18 As used in this chapter, unless the context otherwise
1 19 requires:
1 20 1. "Board" means the vision Iowa board as created in
1 21 section 15F.102.
1 22 2. "Department" means the Iowa department of economic
1 23 development created in section 15.105.
1 24 Sec. 2. NEW SECTION. 15F.102 VISION IOWA BOARD.
1 25 1. The vision Iowa board is established consisting of
1 26 thirteen members and is located for administrative purposes
1 27 within the department. The director of the department shall
1 28 provide office space, staff assistance, and necessary supplies
1 29 and equipment for the board. The director shall budget funds
1 30 to pay the compensation and expenses of the board. In
1 31 performing its functions the board is performing a public
1 32 function on behalf of the state and is a public
1 33 instrumentality of the state.
1 34 2. The membership of the board shall be appointed as
1 35 follows:
2 1 a. Three members of the general public, one member from
2 2 each of the three tourism regions.
2 3 b. One mayor of a city with a population of less than
2 4 twenty thousand.
2 5 c. One county supervisor from a county that has a
2 6 population ranking in the bottom thirty-three counties
2 7 according to the 1990 census.
2 8 d. Four members of the general public.
2 9 e. One mayor of a city with a population of twenty
2 10 thousand or more.
2 11 f. The director of the department of economic development.
2 12 g. The treasurer of state or the treasurer of state's
2 13 designee.
2 14 h. The auditor of state or the auditor of state's
2 15 designee.
2 16 3. All appointments, except the director of the department
2 17 of economic development, the treasurer of state, and the
2 18 auditor of state, shall be made by the governor, shall comply
2 19 with sections 69.16 and 69.16A, and shall be subject to
2 20 confirmation by the senate. All appointed members of the
2 21 board shall have demonstrable experience or expertise in the
2 22 field of tourism development and promotion, public financing,
2 23 architecture, engineering, or major facility development or
2 24 construction.
2 25 4. All members of the board, except the director of the
2 26 department of economic development, the treasurer of state,
2 27 and the auditor of state, shall be residents of different
2 28 counties.
2 29 5. The chairperson and vice chairperson of the board shall
2 30 be designated by the governor from the board members listed in
2 31 subsection 2, paragraphs "a" through "e". In case of the
2 32 absence or disability of the chairperson and vice chairperson,
2 33 the members of the board shall elect a temporary chairperson
2 34 by a majority vote of those members who are present and
2 35 voting.
3 1 6. The members, except the director of the department of
3 2 economic development, the treasurer of state, and the auditor
3 3 of state, shall be appointed to three-year staggered terms and
3 4 the terms shall commence and end as provided by section 69.19.
3 5 If a vacancy occurs, a successor shall be appointed to serve
3 6 the unexpired term. A successor shall be appointed in the
3 7 same manner and subject to the same qualifications as the
3 8 original appointment to serve the unexpired term.
3 9 7. A majority of the board constitutes a quorum.
3 10 Sec. 3. NEW SECTION. 15F.103 BOARD DUTIES.
3 11 The board shall do all of the following:
3 12 1. Organize.
3 13 2. Establish the vision Iowa program and the community
3 14 attraction and tourism program.
3 15 3. Oversee and provide approval of the administration of
3 16 the vision Iowa program and the community attraction and
3 17 tourism program by the department.
3 18 4. Request the treasurer of state to issue bonds on behalf
3 19 of the board for purposes of the vision Iowa program.
3 20 Sec. 4. NEW SECTION. 15F.103A DEPARTMENT DUTIES.
3 21 The department, subject to approval by the board, shall
3 22 adopt administrative rules pursuant to chapter 17A necessary
3 23 to administer the community attraction and tourism program and
3 24 the vision Iowa program. The department shall provide the
3 25 board with assistance in implementing administrative
3 26 functions, marketing the programs, providing technical
3 27 assistance and application assistance to applicants under the
3 28 programs, negotiating contracts, and providing project follow-
3 29 up. The department, in cooperation with the treasurer of
3 30 state, may conduct negotiations on behalf of the board with
3 31 applicants regarding terms and conditions applicable to awards
3 32 under the programs.
3 33 Sec. 5. NEW SECTION. 15F.104 COMPENSATION AND EXPENSES.
3 34 The members of the board are entitled to receive
3 35 reimbursement for actual expenses incurred while engaged in
4 1 the performance of official duties. A member of the board may
4 2 also be eligible to receive compensation as provided in
4 3 section 7E.6.
4 4 Sec. 6. NEW SECTION. 15F.105 BENEFITS.
4 5 Any applicant awarded financial assistance by the board
4 6 under both the vision Iowa program established in section
4 7 15F.302 and the community attraction and tourism program
4 8 established in section 15F.202 shall provide and pay at least
4 9 fifty percent of the cost of a standard medical insurance plan
4 10 for all full-time employees working at the project after the
4 11 completion of the project for which financial assistance was
4 12 received.
4 13 SUBCHAPTER II
4 14 COMMUNITY ATTRACTION AND TOURISM
4 15 PROGRAM AND FUND
4 16 Sec. 7. NEW SECTION. 15F.201 DEFINITIONS.
4 17 As used in this subchapter, unless the context otherwise
4 18 requires:
4 19 1. "Fund" means the community attraction and tourism fund
4 20 created in section 15F.204.
4 21 2. "Program" means the community attraction and tourism
4 22 program established in section 15F.202.
4 23 Sec. 8. NEW SECTION. 15F.202 COMMUNITY ATTRACTION AND
4 24 TOURISM PROGRAM.
4 25 1. The board shall establish and the department, subject
4 26 to direction and approval by the board, shall administer a
4 27 community attraction and tourism program to assist communities
4 28 in the development and creation of multiple-purpose attraction
4 29 or tourism facilities.
4 30 2. A city or county in the state or public organization
4 31 may submit an application to the board for financial
4 32 assistance for a project under the program. The assistance
4 33 shall be in the form of grants, loans, forgivable loans, and
4 34 loan guarantees. The application shall include, but not be
4 35 limited to, the following information:
5 1 a. The total capital investment of the project, including
5 2 but not limited to costs for construction, site acquisition,
5 3 and infrastructure improvement.
5 4 b. The amount or percentage of local and private matching
5 5 moneys which will be or have been provided for the project.
5 6 c. The total number of jobs to be created or retained by
5 7 the project.
5 8 d. The need of the community for the project and for the
5 9 financial assistance.
5 10 e. The long-term tax-generating impact of the project.
5 11 3. A school district, in cooperation with a city or
5 12 county, may submit a joint application for financial
5 13 assistance for a project under the program. The assistance
5 14 shall be in the form of grants, loans, forgivable loans, and
5 15 loan guarantees. In addition to the information required in
5 16 subsection 2, the application shall include a demonstration
5 17 that the intended future use of the project shall be by both
5 18 joint applicants.
5 19 Sec. 9. NEW SECTION. 15F.203 COMMUNITY ATTRACTION AND
5 20 TOURISM PROGRAM APPLICATION REVIEW.
5 21 1. Applications for assistance under the program shall be
5 22 submitted to the department. For those applications that meet
5 23 the eligibility criteria, the department shall provide a staff
5 24 review analysis and evaluation to the community attraction and
5 25 tourism program review committee referred to in subsection 2
5 26 and the board.
5 27 2. A review committee composed of five members of the
5 28 board shall review community attraction and tourism program
5 29 applications submitted to the board and make recommendations
5 30 regarding the applications to the board. The review committee
5 31 shall consist of members of the board listed in section
5 32 15F.102, subsection 2, paragraphs "a" through "c".
5 33 3. When reviewing the applications, the review committee
5 34 and the department shall consider, at a minimum, all of the
5 35 following:
6 1 a. Whether the wages, benefits, including health benefits,
6 2 safety, and other attributes of the project would improve the
6 3 quality of life or the quality of attraction or tourism
6 4 employment in the community.
6 5 b. The extent to which such a project would generate
6 6 additional recreational and cultural attractions or tourism
6 7 opportunities.
6 8 c. The ability of the project to produce a long-term tax-
6 9 generating economic impact.
6 10 d. The location of the projects and geographic diversity
6 11 of the applications.
6 12 e. The project is primarily a vertical infrastructure
6 13 project with demonstrated substantial regional or statewide
6 14 economic impact. For purposes of the program, "vertical
6 15 infrastructure" means land acquisition and construction, major
6 16 renovation and major repair of buildings, all appurtenant
6 17 structures, utilities, site development, and recreational
6 18 trails. "Vertical infrastructure" does not include routine,
6 19 recurring maintenance or operational expenses or leasing of a
6 20 building, appurtenant structure, or utility without a lease-
6 21 purchase agreement.
6 22 f. Whether the applicant has received financial assistance
6 23 under the program for the same project.
6 24 g. The extent to which the project has taken the following
6 25 planning principles into consideration:
6 26 (1) Efficient and effective use of land resources and
6 27 existing infrastructure by encouraging development in areas
6 28 with existing infrastructure or capacity to avoid costly
6 29 duplication of services and costly use of land.
6 30 (2) Provision for a variety of transportation choices,
6 31 including pedestrian traffic.
6 32 (3) Maintenance of a unique sense of place by respecting
6 33 local cultural and natural environmental features.
6 34 (4) Conservation of open space and farmland and
6 35 preservation of critical environmental areas.
7 1 (5) Promotion of the safety, livability, and
7 2 revitalization of existing urban and rural communities.
7 3 4. Upon review of the recommendations of the review
7 4 committee, the board shall approve, defer, or deny the
7 5 applications.
7 6 5. Upon approval of an application for financial
7 7 assistance under the program, the board shall notify the
7 8 treasurer of state regarding the amount of moneys needed to
7 9 satisfy the award of financial assistance and the terms of the
7 10 award. The treasurer of state shall notify the department
7 11 anytime moneys are disbursed to a recipient of financial
7 12 assistance under the program.
7 13 Sec. 10. NEW SECTION. 15F.204 COMMUNITY ATTRACTION AND
7 14 TOURISM FUND.
7 15 1. A community attraction and tourism fund is created as a
7 16 separate fund in the state treasury under the control of the
7 17 board, consisting of any moneys appropriated by the general
7 18 assembly and any other moneys available to and obtained or
7 19 accepted by the board for placement in the fund.
7 20 2. Payments of interest, repayments of moneys loaned
7 21 pursuant to this subchapter, and recaptures of grants or loans
7 22 shall be deposited in the fund.
7 23 3. The fund shall be used to provide grants, loans,
7 24 forgivable loans, and loan guarantees under the community
7 25 attraction and tourism program established in section 15F.202.
7 26 An applicant under the community attraction and tourism
7 27 program shall not receive financial assistance from the fund
7 28 in an amount exceeding fifty percent of the total cost of the
7 29 project.
7 30 4. Moneys in the fund are not subject to section 8.33.
7 31 Notwithstanding section 12C.7, subsection 2, interest or
7 32 earnings on moneys in the fund shall be credited to the fund.
7 33 5. At the beginning of each fiscal year, the board shall
7 34 allocate all moneys in the fund in the following manner:
7 35 a. One-third of the moneys shall be allocated to provide
8 1 assistance to cities and counties which meet the following
8 2 criteria:
8 3 (1) A city which has a population of ten thousand or less
8 4 according to the most recently published census.
8 5 (2) A county which has a population that ranks in the
8 6 bottom thirty-three counties according to the most recently
8 7 published census.
8 8 b. Two-thirds of the moneys shall be allocated to provide
8 9 assistance to any city and county in the state, which may
8 10 include a city or county included under paragraph "a".
8 11 6. If two or more cities or counties submit a joint
8 12 project application for financial assistance under the
8 13 program, all joint applicants must meet the criteria of
8 14 subsection 5, paragraph "a", in order to receive any moneys
8 15 allocated under that paragraph.
8 16 7. If any portion of the allocated moneys under subsection
8 17 5, paragraph "a", has not been awarded by April 1 of the
8 18 fiscal year for which the allocation is made, the portion
8 19 which has not been awarded may be utilized by the board to
8 20 provide financial assistance under the program to any city or
8 21 county in the state.
8 22 SUBCHAPTER III
8 23 VISION IOWA PROGRAM
8 24 Sec. 11. NEW SECTION. 15F.301 DEFINITIONS.
8 25 As used in this subchapter, unless the context otherwise
8 26 requires:
8 27 1. "Fund" means the vision Iowa fund created in section
8 28 12.72.
8 29 2. "Program" means the vision Iowa program established in
8 30 section 15F.302.
8 31 Sec. 12. NEW SECTION. 15F.302 VISION IOWA PROGRAM.
8 32 1. The board shall establish and the department, subject
8 33 to direction and approval by the board, shall administer a
8 34 vision Iowa program to assist communities in the development
8 35 of major tourism facilities.
9 1 2. A city or county or a public organization in the state
9 2 may submit an application to the board for financial
9 3 assistance for a project under the program. For purposes of
9 4 this subsection, "public organization" means a nonprofit
9 5 economic development organization or other nonprofit
9 6 organization that sponsors or supports community or tourism
9 7 attractions and activities. The financial assistance from the
9 8 fund shall be in the form of grants, loans, forgivable loans,
9 9 pledges, and guarantees. The application shall include, but
9 10 not be limited to, the following information:
9 11 a. The total capital investment of the project, including
9 12 but not limited to costs for construction, site acquisition,
9 13 and infrastructure improvement.
9 14 b. A description of the proposed financing including the
9 15 amount or percentage of local and private matching moneys to
9 16 be provided for the project.
9 17 c. The total number of jobs to be created or retained by
9 18 the project.
9 19 d. The need of the community for the project and for
9 20 financial assistance.
9 21 e. The long-term tax-generating impact of the project.
9 22 f. A discussion of how the project meets other criteria
9 23 established in this subchapter.
9 24 g. The projected long-term economic viability of the
9 25 project, including projected revenues and expenses.
9 26 3. A school district, in cooperation with a city or
9 27 county, may submit a joint application for financial
9 28 assistance for a project under the program. The financial
9 29 assistance shall be in the form of grants, loans, forgivable
9 30 loans, and loan guarantees. In addition to the information
9 31 required in subsection 2, the application shall include a
9 32 demonstration that the intended future use of the project
9 33 shall be by both joint applicants.
9 34 Sec. 13. NEW SECTION. 15F.303 ELIGIBILITY.
9 35 1. The total cost for a project must be at least twenty
10 1 million dollars in order for an applicant to receive financial
10 2 assistance under the program. An applicant or the board may
10 3 divide a proposed project into component parts. The board may
10 4 choose to provide financial assistance under the program to
10 5 one or more component parts instead of providing financial
10 6 assistance under the program for the entire project.
10 7 2. An applicant must demonstrate financial and
10 8 nonfinancial support for the project which may be from a
10 9 public or private source. Nonfinancial support may include,
10 10 but is not limited to, the value of labor and services, real
10 11 and personal property donated for purposes of the project, and
10 12 the use of real and personal property for purposes of the
10 13 project. The financial and nonfinancial support for the
10 14 project described under this subsection shall equal at least
10 15 fifty percent of the total cost of the project.
10 16 3. In order for a project to be eligible to receive
10 17 financial assistance, the project must satisfy all of the
10 18 following criteria:
10 19 a. The project is primarily a vertical infrastructure
10 20 project with demonstrated substantial regional or statewide
10 21 economic impact. For purposes of the program, "vertical
10 22 infrastructure" means land acquisition and construction, major
10 23 renovation and major repair of buildings, all appurtenant
10 24 structures, utilities, site development, and recreational
10 25 trails. "Vertical infrastructure" does not include routine,
10 26 recurring maintenance or operational expenses or leasing of a
10 27 building, appurtenant structure, or utility without a lease-
10 28 purchase agreement.
10 29 b. The project supports or is strategically aligned with
10 30 other existing regional or statewide cultural, recreational,
10 31 entertainment, or educational activities.
10 32 c. The project provides benefits to persons living outside
10 33 the county in which the project is located or to persons
10 34 living outside the state.
10 35 d. The project will increase the diversity of activities
11 1 available to citizens, workers, families, and tourists, and
11 2 enhance recruitment and retention of young people as
11 3 residents.
11 4 e. The project has economic or other obstacles impeding
11 5 local financing of the project.
11 6 4. The board shall not approve an application for
11 7 assistance for any of the following purposes:
11 8 a. To refinance a loan existing prior to the initial
11 9 application date.
11 10 b. For a project that has previously received assistance
11 11 under the program, unless the applicant demonstrates that the
11 12 assistance would be used for a significant expansion of a
11 13 project.
11 14 Sec. 14. NEW SECTION. 15F.304 VISION IOWA PROGRAM
11 15 APPLICATION REVIEW.
11 16 1. Applications for assistance under the program shall be
11 17 submitted to the department. For those applications that meet
11 18 the eligibility criteria, the department shall provide a staff
11 19 review and evaluation to the vision Iowa program review
11 20 committee referred to in subsection 2 and the board.
11 21 2. A review committee composed of eight members of the
11 22 board shall review vision Iowa program applications submitted
11 23 to the board and make recommendations regarding the
11 24 applications to the board. The review committee shall consist
11 25 of members of the board listed in section 15F.102, subsection
11 26 2, paragraphs "d" through "h".
11 27 3. When reviewing the applications, the review committee
11 28 and the department shall consider, in addition to other
11 29 criteria established in this subchapter, all of the following:
11 30 a. Whether wages, benefits, including health benefits,
11 31 safety, and other attributes of the project would improve the
11 32 quality of other existing regional or statewide cultural,
11 33 recreational, entertainment, and educational activities or
11 34 employment in the community.
11 35 b. The extent to which the project would generate
12 1 additional attraction and tourism opportunities.
12 2 c. The ability of the project to produce a long-term tax-
12 3 generating economic impact in excess of the proposed financial
12 4 assistance from the vision Iowa fund.
12 5 d. The geographic diversity of the project in combination
12 6 with other proposed projects.
12 7 e. The investment of the city, county, or region in the
12 8 overall project.
12 9 f. Other funding mechanisms.
12 10 g. The long-term economic viability of the project.
12 11 h. The extent to which the project has taken the following
12 12 planning principles into consideration:
12 13 (1) Efficient and effective use of land resources and
12 14 existing infrastructure by encouraging development in areas
12 15 with existing infrastructure or capacity to avoid costly
12 16 duplication of services and costly use of land.
12 17 (2) Provision for a variety of transportation choices,
12 18 including pedestrian traffic.
12 19 (3) Maintenance of a unique sense of place by respecting
12 20 local cultural and natural environmental features.
12 21 (4) Conservation of open space and farmland and preserve
12 22 critical environmental areas.
12 23 (5) Promotion of the safety, livability, and
12 24 revitalization of existing urban and rural communities.
12 25 4. Upon review of the recommendations of the review
12 26 committee, the board shall approve, defer, or deny the
12 27 applications.
12 28 DIVISION II
12 29 Sec. 15. NEW SECTION. 12.71 GENERAL AND SPECIFIC BONDING
12 30 POWERS – VISION IOWA PROGRAM.
12 31 1. The treasurer of state may issue bonds upon the request
12 32 of the vision Iowa board created in section 15F.102 and do all
12 33 things necessary with respect to the purposes of the vision
12 34 Iowa fund. The treasurer of state shall have all of the
12 35 powers which are necessary to issue and secure bonds and carry
13 1 out the purposes of the fund. The treasurer of state may
13 2 issue bonds in principal amounts which, in the opinion of the
13 3 board, are necessary to provide sufficient funds for the
13 4 vision Iowa fund created in section 12.72, the payment of
13 5 interest on the bonds, the establishment of reserves to secure
13 6 the bonds, the costs of issuance of the bonds, other
13 7 expenditures of the treasurer of state incident to and
13 8 necessary or convenient to carry out the bond issue for the
13 9 fund, and all other expenditures of the board necessary or
13 10 convenient to administer the fund; provided, however,
13 11 excluding the issuance of refunding bonds, bonds issued
13 12 pursuant to section 12.71 shall not be issued in an aggregate
13 13 principal amount which exceeds three hundred million dollars.
13 14 The bonds are investment securities and negotiable instruments
13 15 within the meaning of and for purposes of the uniform
13 16 commercial code.
13 17 2. Bonds issued under this section are payable solely and
13 18 only out of the moneys, assets, or revenues of the vision Iowa
13 19 fund and any bond reserve funds established pursuant to
13 20 section 12.72, all of which may be deposited with trustees or
13 21 depositories in accordance with bond or security documents and
13 22 pledged by the board to the payment thereof. Bonds issued
13 23 under this section shall contain on their face a statement
13 24 that the bonds do not constitute an indebtedness of the state.
13 25 The treasurer of state shall not pledge the credit or taxing
13 26 power of this state or any political subdivision of this state
13 27 or make bonds issued pursuant to this section payable out of
13 28 any moneys except those in the vision Iowa fund.
13 29 3. The proceeds of bonds issued by the treasurer of state
13 30 and not required for immediate disbursement may be deposited
13 31 with a trustee or depository as provided in the bond documents
13 32 and invested or reinvested in any investment as directed by
13 33 the board and specified in the trust indenture, resolution, or
13 34 other instrument pursuant to which the bonds are issued
13 35 without regard to any limitation otherwise provided by law.
14 1 4. The bonds shall be:
14 2 a. In a form, issued in denominations, executed in a
14 3 manner, and payable over terms and with rights of redemption,
14 4 and be subject to such other terms and conditions as
14 5 prescribed in the trust indenture, resolution, or other
14 6 instrument authorizing their issuance.
14 7 b. Negotiable instruments under the laws of the state and
14 8 may be sold at prices, at public or private sale, and in a
14 9 manner, as prescribed by the treasurer of state. Chapters
14 10 73A, 74, 74A, and 75 do not apply to the sale or issuance of
14 11 the bonds.
14 12 c. Subject to the terms, conditions, and covenants
14 13 providing for the payment of the principal, redemption
14 14 premiums, if any, interest, and other terms, conditions,
14 15 covenants, and protective provisions safeguarding payment, not
14 16 inconsistent with this section and as determined by the trust
14 17 indenture, resolution, or other instrument authorizing their
14 18 issuance.
14 19 5. The bonds are securities in which public officers and
14 20 bodies of this state; political subdivisions of this state;
14 21 insurance companies and associations and other persons
14 22 carrying on an insurance business; banks, trust companies,
14 23 savings associations, savings and loan associations, and
14 24 investment companies; administrators, guardians, executors,
14 25 trustees, and other fiduciaries; and other persons authorized
14 26 to invest in bonds or other obligations of the state, may
14 27 properly and legally invest funds, including capital, in their
14 28 control or belonging to them.
14 29 6. Bonds must be authorized by a trust indenture,
14 30 resolution, or other instrument of the treasurer of state
14 31 approved by the board. However, a trust indenture,
14 32 resolution, or other instrument authorizing the issuance of
14 33 bonds may delegate to an officer of the board the power to
14 34 negotiate and fix the details of an issue of bonds.
14 35 7. Neither the resolution, trust agreement, nor any other
15 1 instrument by which a pledge is created needs to be recorded
15 2 or filed under the Iowa uniform commercial code to be valid,
15 3 binding, or effective.
15 4 8. Bonds issued under the provisions of this section are
15 5 declared to be issued for a general public and governmental
15 6 purpose and all bonds issued under this section shall be
15 7 exempt from taxation by the state of Iowa and the interest on
15 8 the bonds shall be exempt from the state income tax and the
15 9 state inheritance and estate tax.
15 10 9. Subject to the terms of any bond documents, moneys in
15 11 the vision Iowa fund may be expended for administration
15 12 expenses.
15 13 10. The treasurer of state may issue bonds for the purpose
15 14 of refunding any bonds or notes issued pursuant to this
15 15 section then outstanding, including the payment of any
15 16 redemption premiums thereon and any interest accrued or to
15 17 accrue to the date of redemption of the outstanding bonds or
15 18 notes. Until the proceeds of bonds issued for the purpose of
15 19 refunding outstanding bonds or notes are applied to the
15 20 purchase or retirement of outstanding bonds or notes or the
15 21 redemption of outstanding bonds or notes, the proceeds may be
15 22 placed in escrow and be invested and reinvested in accordance
15 23 with the provisions of this section. The interest, income,
15 24 and profits earned or realized on an investment may also be
15 25 applied to the payment of the outstanding bonds or notes to be
15 26 refunded by purchase, retirement, or redemption. After the
15 27 terms of the escrow have been fully satisfied and carried out,
15 28 any balance of proceeds and interest earned or realized on the
15 29 investments may be returned to the board for deposit in the
15 30 vision Iowa fund established in section 12.72. All refunding
15 31 bonds shall be issued and secured and subject to the
15 32 provisions of this chapter in the same manner and to the same
15 33 extent as other bonds issued pursuant to this section.
15 34 Sec. 16. NEW SECTION. 12.72 VISION IOWA AND RESERVE
15 35 FUNDS.
16 1 1. A vision Iowa fund is created and established as a
16 2 separate and distinct fund in the state treasury. The moneys
16 3 in the fund are appropriated to the board for purposes of the
16 4 vision Iowa program established in section 15F.302. Moneys in
16 5 the fund shall not be subject to appropriation for any other
16 6 purpose by the general assembly, but shall be used only for
16 7 the purposes of the vision Iowa fund. The treasurer of state
16 8 shall act as custodian of the fund and disburse moneys
16 9 contained in the fund as directed by the board, including
16 10 automatic disbursements of funds received pursuant to the
16 11 terms of bond indentures and documents and security provisions
16 12 to trustees. The fund shall be administered by the board
16 13 which shall make expenditures from the fund consistent with
16 14 the purposes of the vision Iowa program without further
16 15 appropriation. An applicant under the vision Iowa program
16 16 shall not receive more than seventy-five million dollars in
16 17 financial assistance from the fund.
16 18 2. Revenue for the vision Iowa fund shall include, but is
16 19 not limited to, the following, which shall be deposited with
16 20 the treasurer of state or its designee as provided by any bond
16 21 or security documents and credited to the fund:
16 22 a. The proceeds of bonds issued to capitalize and pay the
16 23 costs of the fund and investment earnings on the proceeds.
16 24 b. Interest attributable to investment of money in the
16 25 fund or an account of the fund.
16 26 c. Moneys in the form of a devise, gift, bequest,
16 27 donation, federal or other grant, reimbursement, repayment,
16 28 judgment, transfer, payment, or appropriation from any source
16 29 intended to be used for the purposes of the fund.
16 30 3. Moneys in the vision Iowa fund are not subject to
16 31 section 8.33. Notwithstanding section 12C.7, subsection 2,
16 32 interest or earnings on moneys in the fund shall be credited
16 33 to the fund.
16 34 4. The treasurer of state may establish reserve funds to
16 35 secure one or more issues of bonds or notes issued pursuant to
17 1 section 12.71. The treasurer of state may deposit in a
17 2 reserve fund established under this subsection the proceeds of
17 3 the sale of bonds or notes and other money which is made
17 4 available from any other source. The treasurer of state may
17 5 allow a reserve fund established under this subsection to be
17 6 depleted.
17 7 Sec. 17. NEW SECTION. 12.73 PLEDGES.
17 8 1. It is the intention of the general assembly that a
17 9 pledge made in respect of bonds or notes shall be valid and
17 10 binding from the time the pledge is made, that the money or
17 11 property so pledged and received after the pledge by the
17 12 authority shall immediately be subject to the lien of the
17 13 pledge without physical delivery or further act, and that the
17 14 lien of the pledge shall be valid and binding as against all
17 15 parties having claims of any kind in tort, contract, or
17 16 otherwise against the treasurer of state whether or not the
17 17 parties have notice of the lien.
17 18 2. The state pledges to and agrees with the holders of
17 19 bonds or notes issued under section 12.71, that the state will
17 20 not limit or alter the rights and powers vested in the board
17 21 or the treasurer of state to fulfill the terms of a contract
17 22 made with respect to the bonds or notes, or in any way impair
17 23 the rights and remedies of the holders until the bonds and
17 24 notes, together with the interest on them including interest
17 25 on unpaid installments of interest, are fully met and
17 26 discharged.
17 27 Sec. 18. NEW SECTION. 12.74 PROJECTS.
17 28 1. The vision Iowa board may undertake a project for two
17 29 or more applicants jointly or for any combination of
17 30 applicants, and may combine for financing purposes, with the
17 31 consent of all of the applicants which are involved, the
17 32 project and some or all future projects of any applicant, and
17 33 sections 12.71, 12.72, and 12.73, this section, and sections
17 34 12.75 and 12.76 apply to and for the benefit of the vision
17 35 Iowa board and the joint applicants. However, the money set
18 1 aside in a fund or funds pledged for any series or issue of
18 2 bonds or notes shall be held for the sole benefit of the
18 3 series or issue separate and apart from money pledged for
18 4 another series or issue of bonds or notes of the treasurer of
18 5 state. To facilitate the combining of projects, bonds or
18 6 notes may be issued in series under one or more resolutions or
18 7 trust agreements and may be fully open-ended, thus providing
18 8 for the unlimited issuance of additional series, or partially
18 9 open-ended, limited as to additional series.
18 10 2. For purposes of this section, "applicant" means a city
18 11 or county or public organization applying for financial
18 12 assistance under the vision Iowa program established in
18 13 section 15F.302.
18 14 Sec. 19. NEW SECTION. 12.75 LIMITATIONS.
18 15 Bonds or notes issued pursuant to section 12.71 are not
18 16 debts of the state, or of any political subdivision of the
18 17 state and do not constitute a pledge of the faith and credit
18 18 of the state or a charge against the general credit or general
18 19 fund of the state. The issuance of any bonds or notes
18 20 pursuant to section 12.71 by the treasurer of state does not
18 21 directly, indirectly, or contingently obligate the state or a
18 22 political subdivision of the state to apply moneys from, or to
18 23 levy or pledge any form of taxation whatever, to the payment
18 24 of the bonds or notes. Bonds and notes issued under section
18 25 12.71 are payable solely and only from the sources and special
18 26 fund provided in section 12.72.
18 27 Sec. 20. NEW SECTION. 12.76 CONSTRUCTION.
18 28 Sections 12.71 through 12.75, being necessary for the
18 29 welfare of this state and its inhabitants, shall be liberally
18 30 construed to effect its purposes.
18 31 Sec. 21. NEW SECTION. 12.81 GENERAL AND SPECIFIC BONDING
18 32 POWERS – SCHOOL INFRASTRUCTURE PROGRAM.
18 33 1. The treasurer of state may issue bonds for purposes of
18 34 the school infrastructure program established in section
18 35 292.2. Excluding the issuance of refunding bonds, the
19 1 treasurer of state shall not issue bonds which result in the
19 2 deposit of bond proceeds of more than fifty million dollars
19 3 into the school infrastructure fund. The treasurer of state
19 4 shall have all of the powers which are necessary to issue and
19 5 secure bonds and carry out the purposes of the fund. The
19 6 treasurer of state may issue bonds in principal amounts which
19 7 are necessary to provide funds for the fund as provided by
19 8 this section, the payment of interest on the bonds, the
19 9 establishment of reserves to secure the bonds, the costs of
19 10 issuance of the bonds, other expenditures of the treasurer of
19 11 state incident to and necessary or convenient to carry out the
19 12 bond issue for the fund, and all other expenditures of the
19 13 treasurer of state necessary or convenient to administer the
19 14 fund. The bonds are investment securities and negotiable
19 15 instruments within the meaning of and for purposes of the
19 16 uniform commercial code.
19 17 2. Bonds issued under this section are payable solely and
19 18 only out of the moneys, assets, or revenues of the school
19 19 infrastructure fund and any bond reserve funds, all of which
19 20 may be deposited with trustees or depositories in accordance
19 21 with bond or security documents and pledged by the treasurer
19 22 of state to the payment thereof. Bonds issued under this
19 23 section shall contain on their face a statement that the bonds
19 24 do not constitute an indebtedness of the state. The treasurer
19 25 of state shall not pledge the credit or taxing power of this
19 26 state or any political subdivision of this state or make bonds
19 27 issued pursuant to this section payable out of any moneys
19 28 except those in the school infrastructure fund.
19 29 3. The proceeds of bonds issued by the treasurer of state
19 30 and not required for immediate disbursement may be deposited
19 31 with a trustee or depository as provided in the bond documents
19 32 and invested or reinvested in any investment approved by the
19 33 treasurer of state and specified in the trust indenture,
19 34 resolution, or other instrument pursuant to which the bonds
19 35 are issued without regard to any limitation otherwise provided
20 1 by law.
20 2 4. The bonds shall be:
20 3 a. In a form, issued in denominations, executed in a
20 4 manner, and payable over terms and with rights of redemption,
20 5 and be subject to such other terms and conditions as
20 6 prescribed in the trust indenture, resolution, or other
20 7 instrument authorizing their issuance.
20 8 b. Negotiable instruments under the laws of the state and
20 9 may be sold at prices, at public or private sale, and in a
20 10 manner, as prescribed by the treasurer of state. Chapters
20 11 73A, 74, 74A, and 75 do not apply to the sale or issuance of
20 12 the bonds.
20 13 c. Subject to the terms, conditions, and covenants
20 14 providing for the payment of the principal, redemption
20 15 premiums, if any, interest, and other terms, conditions,
20 16 covenants, and protective provisions safeguarding payment, not
20 17 inconsistent with this section and as determined by the trust
20 18 indenture, resolution, or other instrument authorizing their
20 19 issuance.
20 20 5. The bonds are securities in which public officers and
20 21 bodies of this state; political subdivisions of this state;
20 22 insurance companies and associations and other persons
20 23 carrying on an insurance business; banks, trust companies,
20 24 savings associations, savings and loan associations, and
20 25 investment companies; administrators, guardians, executors,
20 26 trustees, and other fiduciaries; and other persons authorized
20 27 to invest in bonds or other obligations of the state, may
20 28 properly and legally invest funds, including capital, in their
20 29 control or belonging to them.
20 30 6. Bonds must be authorized by a trust indenture,
20 31 resolution, or other instrument of the treasurer of state.
20 32 However, a trust indenture, resolution, or other instrument
20 33 authorizing the issuance of bonds may delegate to an officer
20 34 of the issuer the power to negotiate and fix the details of an
20 35 issue of bonds.
21 1 7. Neither the resolution, trust agreement, nor any other
21 2 instrument by which a pledge is created needs to be recorded
21 3 or filed under the Iowa uniform commercial code to be valid,
21 4 binding, or effective.
21 5 8. Bonds issued under the provisions of this section are
21 6 declared to be issued for a general public and governmental
21 7 purpose and all bonds issued under this section shall be
21 8 exempt from taxation by the state of Iowa and the interest on
21 9 the bonds shall be exempt from the state income tax and the
21 10 state inheritance and estate tax.
21 11 9. Subject to the terms of any bond documents, moneys in
21 12 the school infrastructure fund may be expended for
21 13 administration expenses.
21 14 10. The treasurer of state may issue bonds for the purpose
21 15 of refunding any bonds or notes issued pursuant to this
21 16 section then outstanding, including the payment of any
21 17 redemption premiums thereon and any interest accrued or to
21 18 accrue to the date of redemption of the outstanding bonds or
21 19 notes. Until the proceeds of bonds issued for the purpose of
21 20 refunding outstanding bonds or notes are applied to the
21 21 purchase or retirement of outstanding bonds or notes or the
21 22 redemption of outstanding bonds or notes, the proceeds may be
21 23 placed in escrow and be invested and reinvested in accordance
21 24 with the provisions of this section. The interest, income,
21 25 and profits earned or realized on an investment may also be
21 26 applied to the payment of the outstanding bonds or notes to be
21 27 refunded by purchase, retirement, or redemption. After the
21 28 terms of the escrow have been fully satisfied and carried out,
21 29 any balance of proceeds and interest earned or realized on the
21 30 investments may be returned and deposited in the school
21 31 infrastructure fund. All refunding bonds shall be issued and
21 32 secured and subject to the provisions of this chapter in the
21 33 same manner and to the same extent as other bonds issued
21 34 pursuant to this section.
21 35 Sec. 22. NEW SECTION. 12.82 SCHOOL INFRASTRUCTURE AND
22 1 RESERVE FUNDS.
22 2 1. A school infrastructure fund is created and established
22 3 as a separate and distinct fund in the state treasury under
22 4 the control of the department of education. The fund shall be
22 5 used for purposes of the school infrastructure program
22 6 established in section 292.2.
22 7 2. Revenue for the school infrastructure fund shall
22 8 include, but is not limited to, the following, which shall be
22 9 deposited with the treasurer of state or its designee as
22 10 provided by any bond or security documents and credited to the
22 11 fund:
22 12 a. The proceeds of bonds issued to capitalize and pay the
22 13 costs of the fund and investment earnings on the proceeds.
22 14 b. Interest attributable to investment of money in the
22 15 fund or an account of the fund.
22 16 c. Moneys in the form of a devise, gift, bequest,
22 17 donation, federal or other grant, reimbursement, repayment,
22 18 judgment, transfer, payment, or appropriation from any source
22 19 intended to be used for the purposes of the fund.
22 20 3. Moneys in the school infrastructure fund are not
22 21 subject to section 8.33. Notwithstanding section 12C.7,
22 22 subsection 2, interest or earnings on moneys in the fund shall
22 23 be credited to the fund.
22 24 4. The treasurer of state may establish reserve funds to
22 25 secure one or more issues of bonds or notes issued pursuant to
22 26 section 12.81. The treasurer of state may deposit in a
22 27 reserve fund established under this subsection the proceeds of
22 28 the sale of its bonds or notes and other money which is made
22 29 available from any other source. The treasurer of state may
22 30 allow a reserve fund established under this subsection to be
22 31 depleted.
22 32 Sec. 23. NEW SECTION. 12.83 PLEDGES.
22 33 1. It is the intention of the general assembly that a
22 34 pledge made in respect of bonds or notes shall be valid and
22 35 binding from the time the pledge is made, that the money or
23 1 property so pledged and received after the pledge by the
23 2 authority shall immediately be subject to the lien of the
23 3 pledge without physical delivery or further act, and that the
23 4 lien of the pledge shall be valid and binding as against all
23 5 parties having claims of any kind in tort, contract, or
23 6 otherwise against the treasurer of state whether or not the
23 7 parties have notice of the lien.
23 8 2. The state pledges to and agrees with the holders of
23 9 bonds or notes issued under section 12.81, that the state will
23 10 not limit or alter the rights and powers vested in the
23 11 treasurer of state to fulfill the terms of a contract made by
23 12 the treasurer of state with respect to the bonds or notes, or
23 13 in any way impair the rights and remedies of the holders until
23 14 the bonds and notes, together with the interest on them
23 15 including interest on unpaid installments of interest, and all
23 16 costs and expenses in connection with an action or proceeding
23 17 by or on behalf of the holders, are fully met and discharged.
23 18 The treasurer of state is authorized to include this pledge
23 19 and agreement of the state, as it refers to holders of bonds
23 20 or notes of the authority, in a contract with the holders.
23 21 Sec. 24. NEW SECTION. 12.84 LIMITATIONS.
23 22 Bonds or notes issued pursuant to section 12.81 are not
23 23 debts of the state, or of any political subdivision of the
23 24 state and do not constitute a pledge of the faith and credit
23 25 of the state or a charge against the general credit or general
23 26 fund of the state. The issuance of any bonds or notes
23 27 pursuant to section 12.81 by the treasurer of state does not
23 28 directly, indirectly, or contingently obligate the state or a
23 29 political subdivision of the state to apply moneys from, or to
23 30 levy or pledge any form of taxation whatever to, the payment
23 31 of the bonds or notes. Bonds and notes issued under section
23 32 12.81 are payable solely and only from the sources and special
23 33 fund provided in section 12.82. Expenses incurred in carrying
23 34 out sections 12.81 through 12.83, this section, and section
23 35 12.85 are payable solely from funds available under those
24 1 sections.
24 2 Sec. 25. NEW SECTION. 12.85 CONSTRUCTION.
24 3 Sections 12.81 through 12.84, being necessary for the
24 4 welfare of this state and its inhabitants, shall be liberally
24 5 construed to effect its purposes.
24 6 DIVISION III
24 7 Sec. 26. NEW SECTION. 292.1 DEFINITIONS.
24 8 As used in this chapter, unless the context otherwise
24 9 requires:
24 10 1. "Capacity per pupil" means the sum of a school
24 11 district's property tax infrastructure capacity per pupil and
24 12 the sales tax capacity per pupil.
24 13 2. "Committee" means the school budget review committee
24 14 established in section 257.30.
24 15 3. "Department" means the department of education
24 16 established in section 256.1.
24 17 4. "Fund" means the school infrastructure fund created in
24 18 section 12.82.
24 19 5. "Local match percentage" means a percentage equivalent
24 20 to either of the following, whichever is less:
24 21 a. Fifty percent.
24 22 b. The quotient of a school district's capacity per pupil
24 23 divided by the capacity per pupil of the school district at
24 24 the fortieth percentile, multiplied by fifty percent, except
24 25 that the percentage in this paragraph shall not be less than
24 26 twenty percent.
24 27 6. "Program" means the school infrastructure program
24 28 established in section 292.2.
24 29 7. "Property tax infrastructure capacity per pupil" means
24 30 the sum of a school district's levies under sections 298.2 and
24 31 298.18 when the levies are imposed to the maximum extent
24 32 allowable under law in the budget year divided by the school
24 33 district's basic enrollment for the budget year.
24 34 8. "Sales tax capacity per pupil" means the estimated
24 35 amount of revenues that a school district receives or would
25 1 receive if a local sales and services tax for school
25 2 infrastructure is imposed at one percent pursuant to section
25 3 422E.2, divided by the school district's basic enrollment for
25 4 the budget year. For the budget year beginning July 1, 2000,
25 5 the school district's actual enrollment shall be used in the
25 6 calculation in place of the school district's basic enrollment
25 7 for the budget year.
25 8 9. "School infrastructure" means activities initiated on
25 9 or after July 1, 2000, as authorized in section 296.1 but does
25 10 not include those activities related to stadiums, bus barns, a
25 11 home or homes of a teacher or superintendent, procuring and
25 12 improving a site for an athletic field, or improving a site
25 13 already owned for an athletic field.
25 14 Sec. 27. NEW SECTION. 292.2 SCHOOL INFRASTRUCTURE
25 15 PROGRAM.
25 16 1. a. The department shall establish and administer a
25 17 school infrastructure program to provide financial assistance
25 18 in the form of grants to school districts with school
25 19 infrastructure needs.
25 20 b. The department of education, in consultation with the
25 21 department of management, shall annually compute the property
25 22 tax infrastructure capacity per pupil for each school district
25 23 in the state.
25 24 c. The department of education, in consultation with the
25 25 department of revenue and finance and the legislative fiscal
25 26 bureau, shall annually calculate the estimated sales and
25 27 services tax for school infrastructure, if imposed at one
25 28 percent, that is or would be received by each school district
25 29 in the state pursuant to section 422E.3. These calculations
25 30 shall be made on a total tax and on a tax per pupil basis for
25 31 each school district.
25 32 d. The department of education, in consultation with the
25 33 department of revenue and finance and the department of
25 34 management, shall annually compute capacity per pupil and the
25 35 local match percentage for each school district in the state.
26 1 The initial calculations shall be released not later than
26 2 January 1, 2001. For all calculations thereafter, the
26 3 calculations shall be released not later than July 1 of each
26 4 year.
26 5 2. a. A school district's local match requirement is
26 6 equivalent to the total investment of a project multiplied by
26 7 the school district's local match percentage. A school
26 8 district may submit an application to the department for
26 9 financial assistance under the program if the school district
26 10 meets the district's local match requirement through one or
26 11 more of the following sources:
26 12 (1) The issuance of bonds pursuant to section 298.18.
26 13 (2) Local sales and services tax moneys received pursuant
26 14 to section 422E.3.
26 15 (3) A physical plant and equipment levy under chapter 298.
26 16 (4) Other moneys locally obtained by the school district
26 17 excluding other state or federal grant moneys.
26 18 b. If the project is in collaboration with other public or
26 19 private entities, the school district shall be eligible to
26 20 apply for only the school district's portion of the project.
26 21 As such, state or federal grants received by the other
26 22 entities cannot be used toward the local match requirement
26 23 under paragraph "a", subparagraph (4).
26 24 c. A school district may submit an application for a
26 25 project which includes activities at more than one attendance
26 26 center. However, if the activities relate to new
26 27 construction, the project shall only relate to one attendance
26 28 center.
26 29 d. A school district may submit an application for
26 30 conditional approval to the department for financial
26 31 assistance under the program if the school district submits a
26 32 plan for securing the school district's local match
26 33 requirement under paragraph "a". If a school district does
26 34 not meet the local match requirement of paragraph "a" within
26 35 nine months of receiving conditional approval from the
27 1 department, the application for financial assistance shall be
27 2 denied by the department and the financial assistance shall be
27 3 carried forward to be made available under the allocation
27 4 provided under subsection 4, paragraph "d", for the next
27 5 available grant cycle.
27 6 e. For the fiscal year beginning July 1, 2000,
27 7 applications shall be submitted to the department by March 1,
27 8 2001. For the fiscal year beginning July 1, 2001, and every
27 9 fiscal year thereafter, applications shall be submitted to the
27 10 department by October 15 of each year.
27 11 f. For the fiscal year beginning July 1, 2000, the
27 12 department shall notify all approved applicants by May 1,
27 13 2001, regarding the approval of the application. For the
27 14 fiscal year beginning July 1, 2001, and every fiscal year
27 15 thereafter, the department shall notify all approved
27 16 applicants by December 15 of each year regarding the approval
27 17 of the application.
27 18 g. An applicant which is not successful in obtaining
27 19 financial assistance under the program may reapply for
27 20 financial assistance in succeeding years.
27 21 3. The application shall include, but shall not be limited
27 22 to, the following information:
27 23 a. The total capital investment of the project.
27 24 b. The amount and percentage of moneys which the school
27 25 district will be providing for the project.
27 26 c. The infrastructure needs of the school district,
27 27 especially the fire and health safety needs of the school
27 28 district, and including the extent to which the project would
27 29 allow the school district to meet the infrastructure needs of
27 30 the school district on a long-term basis.
27 31 d. The financial assistance needed by the school district
27 32 based upon the capacity per pupil.
27 33 e. Any previous efforts by the school district to secure
27 34 infrastructure funding from federal, state, or local
27 35 resources, including any funding received for any project
28 1 under the Iowa demonstration construction grant program. The
28 2 previous efforts shall be evaluated on a case-by-case basis.
28 3 f. Evidence that the school district meets or will meet
28 4 the local match requirement in subsection 2, paragraph "a".
28 5 g. The nature of the proposed project and its relationship
28 6 to improving educational opportunities for the students.
28 7 h. Evidence that the school district has reorganized on or
28 8 after July 1, 2000, or that the school district has initiated
28 9 a resolution to reorganize by July 1, 2004, or entered into an
28 10 innovative collaboration with another school district or
28 11 school districts.
28 12 i. Evidence that the school district receives sales and
28 13 services tax for school infrastructure funding under section
28 14 422E.3.
28 15 4. A school district shall not receive more than one grant
28 16 under the program. The financial assistance shall be in the
28 17 form of grants and shall be allocated in the following manner:
28 18 a. Twenty-five percent of the financial assistance each
28 19 year shall be awarded to school districts with an enrollment
28 20 of one thousand one hundred ninety-nine students or less.
28 21 b. Twenty-five percent of the financial assistance each
28 22 year shall be awarded to school districts with an enrollment
28 23 of more than one thousand one hundred ninety-nine students but
28 24 not more than four thousand seven hundred fifty students.
28 25 c. Twenty-five percent of the financial assistance each
28 26 year shall be awarded to school districts with an enrollment
28 27 of more than four thousand seven hundred fifty students.
28 28 d. Twenty-five percent of the financial assistance each
28 29 year, any financial assistance not awarded under paragraphs
28 30 "a" through "c", and financial assistance not awarded in
28 31 previous fiscal years shall be awarded to school districts
28 32 with any size enrollment.
28 33 5. A district shall receive the lesser of one million
28 34 dollars of financial assistance under the program, or the
28 35 total capital investment of the project minus the local match
29 1 requirement. The program shall provide grants in an amount of
29 2 not more than ten million dollars during the fiscal year
29 3 beginning July 1, 2000, not more than twenty million dollars
29 4 during the fiscal year beginning July 1, 2001, and not more
29 5 than twenty million dollars during the fiscal year beginning
29 6 July 1, 2002. If the amount of grants awarded in a fiscal
29 7 year is less than the maximum amount provided for grants for
29 8 that fiscal year in this subsection, the amount of the
29 9 difference shall be carried forward to subsequent fiscal years
29 10 for purposes of providing grants under the program and the
29 11 maximum amount of grants for each fiscal year, as provided in
29 12 this subsection, shall be adjusted accordingly.
29 13 6. The school budget review committee shall review all
29 14 applications for financial assistance under the program and
29 15 make recommendations regarding the applications to the
29 16 department. The department shall make the final determination
29 17 on grant awards. The school budget review committee shall
29 18 base the recommendations on the criteria established pursuant
29 19 to subsections 3 and 7.
29 20 7. The department shall form a task force to review
29 21 applications for financial assistance and provide
29 22 recommendations to the school budget review committee. The
29 23 task force shall include, at a minimum, representatives from
29 24 the kindergarten through grade twelve education community, the
29 25 state fire marshal, and individuals knowledgeable in school
29 26 infrastructure and construction issues. The department, in
29 27 consultation with the task force, shall establish the
29 28 parameters and the details of the criteria for awarding grants
29 29 based on the information listed in subsection 3, including
29 30 greater priority to the following:
29 31 a. A school district with a lower capacity per pupil.
29 32 b. A school district whose plans address specific occupant
29 33 safety issues.
29 34 c. A school district reorganizing or collaborating as
29 35 described in subsection 3, paragraph "h".
30 1 d. A school district for which a sales and services tax
30 2 for school infrastructure has not been imposed pursuant to
30 3 section 422E.2 or a school district receiving minimal revenues
30 4 under section 422E.3 when the total enrollment of the school
30 5 district is considered.
30 6 8. An applicant receiving financial assistance under the
30 7 program shall submit a progress report to the department of
30 8 education as requested by the department which shall include a
30 9 description of the activities under the project, the status of
30 10 the implementation of the project, and any other information
30 11 required by the department.
30 12 9. If a school district receives financial assistance
30 13 under the vision Iowa program created under section 15F.302
30 14 pursuant to a joint application submitted under section
30 15 15F.302, subsection 3, the school district shall not be
30 16 eligible to receive financial assistance under the school
30 17 infrastructure program.
30 18 10. A school district located in whole or in part in a
30 19 county which has imposed the maximum rate of sales and
30 20 services tax for school infrastructure pursuant to section
30 21 422E.2 and has sales and services tax for school
30 22 infrastructure revenue of more than the statewide average of
30 23 sales tax capacity per pupil, as defined in section 292.1,
30 24 subsection 8, shall not be eligible for financial assistance
30 25 under the program. For purposes of this subsection, an
30 26 individual school district's sales tax capacity per pupil is
30 27 the estimated total sales and services tax for infrastructure
30 28 revenue to be actually received by the school district divided
30 29 by the school district's enrollment as specified in section
30 30 292.1, subsection 8.
30 31 Sec. 28. NEW SECTION. 292.4 RULES.
30 32 The department shall adopt rules, pursuant to chapter 17A,
30 33 necessary for administering the school infrastructure program
30 34 and fund.
30 35 Sec. 29. Section 384.95, subsection 1, Code 1999, is
31 1 amended to read as follows:
31 2 1. "Public improvement" means any building or construction
31 3 work, either within or outside the corporate limits of a city,
31 4 to be paid for in whole or in part by the use of funds of the
31 5 city, regardless of sources, including a building or
31 6 improvement constructed or operated jointly with any other
31 7 public or private agency, but excluding urban renewal
31 8 demolition and low-rent housing projects, industrial aid
31 9 projects authorized under chapter 419, emergency work or work
31 10 performed by employees of a city or a city utility.
31 11 Sec. 30. Sections 15.371 through 15.373, Code Supplement
31 12 1999, are repealed.
31 13 Sec. 31. REPEAL AND REENACTMENT – CONTINUATION. The
31 14 repeal and reenactment of Code sections relating to the
31 15 community attraction and tourism development program and the
31 16 community attraction and tourism development fund are intended
31 17 to be a continuation of the prior statutes and not a new
31 18 enactment, so far as the new enactment is the same as the
31 19 prior statutes. The repeal and reenactment of Code sections
31 20 relating to the community attraction and tourism development
31 21 program and the community attraction and tourism development
31 22 fund shall not cause moneys in the current community
31 23 attraction and tourism development fund to revert to any other
31 24 fund but such moneys shall remain in the community attraction
31 25 and tourism fund established in Code section 15F.204 for
31 26 expenditure for subsequent fiscal years. The repeal and
31 27 reenactment of Code sections relating to the community
31 28 attraction and tourism development program and the community
31 29 attraction and tourism development fund shall not nullify any
31 30 awards made under the program based on appropriations made in
31 31 1999 Iowa Acts, chapter 204, section 3, subsection 2, for the
31 32 fiscal years beginning July 1, 1999, and July 1, 2000.
31 33 Sec. 32. This Act prevails over the provisions of 2000
31 34 Iowa Acts, House File 2392, if enacted, relating to any
31 35 amendments to the community attraction and tourism development
32 1 program and fund, which provisions are void.
32 2
32 3
32 4
32 5 MARY E. KRAMER
32 6 President of the Senate
32 7
32 8
32 9
32 10 BRENT SIEGRIST
32 11 Speaker of the House
32 12
32 13 I hereby certify that this bill originated in the Senate and
32 14 is known as Senate File 2447, Seventy-eighth General Assembly.
32 15
32 16
32 17
32 18 MICHAEL E. MARSHALL
32 19 Secretary of the Senate
32 20 Approved , 2000
32 21
32 22
32 23
32 24 THOMAS J. VILSACK
32 25 Governor
Text: SF02446 Text: SF02448 Text: SF02400 - SF02499 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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