House Journal: Page 1586: Tuesday, April 18, 2000
29 the same manner as all other property taxes. When
30 such loans, advances, indebtedness, and bonds, if any,
31 and interest thereon, have been paid, all moneys
32 thereafter received from taxes upon the taxable
33 property in such urban renewal area shall be paid into
34 the funds for the respective taxing districts in the
35 same manner as taxes on all other property.
36 Sec. ___. Section 422E.4, unnumbered paragraph 1,
37 Code Supplement 1999, is amended to read as follows:
38 The board of directors of a school district shall
39 be authorized to issue negotiable, interest-bearing
40 school bonds, without election, and utilize tax
41 receipts derived from the sales and services tax for
42 school infrastructure purposes for principal and
43 interest repayment. Proceeds of the bonds issued
44 pursuant to this section shall be utilized solely for
45 school infrastructure needs as school infrastructure
46 is defined in section 422E.1, subsection 3. Issuance
47 of bonds pursuant to this section shall be permitted
48 only in a district which has imposed a local sales and
49 services tax for school infrastructure purposes
50 pursuant to section 422E.2. The provisions of
Page 4
1 sections 298.22 through 298.24 shall apply regarding
2 the form, rate of interest, registration, redemption,
3 and recording of bond issues pursuant to this section,
4 with the exception that the maximum period during
5 which principal on the bonds is payable shall not
6 exceed a ten-year period, or the date of repeal stated
7 on the ballot proposition. Bonds issued pursuant to
8 this section may be sold at public or private sale at
9 a price as may be determined by the board of directors
10 of the school district. Such bonds may be sold at not
11 less than ninety-eight percent of par or may be
12 exchanged for other bonds at not less than ninety-
13 eight percent of par.""
14 7. By renumbering as necessary.
The House stood at ease at 1:21 p.m., until the fall of the gavel.
The House resumed session and consideration of House File 2378,
amendment H-8922 to the Senate amendment H-8899, at 3:00 p.m.,
Dix of Butler in the chair.
Cohoon of Des Moines offered the following amendment H-8931, to
amendment H-8922 to the Senate amendment H-8899 filed by him
from the floor and moved its adoption:
© 2000 Cornell College and
League of Women Voters of Iowa
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