House Journal: Page 1625: Wednesday, April 19, 2000
7 in section 15F.302 and the community attraction and
8 tourism program established in section 15F.202 shall
9 provide and pay at least fifty percent of the cost of
10 a standard medical insurance plan for all full-time
11 employees working at the project after the completion
12 of the project for which financial assistance was
13 received."
14 2. Page 9, line 27, by inserting after the word
15 "located" the following: "or to persons living
16 outside the state".
17 3. Page 9, by striking lines 34 and 35.
18 4. Page 17, by inserting after line 11 the
19 following:
20 "Sec. . NEW SECTION. 12.81 GENERAL AND
21 SPECIFIC BONDING POWERS - SCHOOL INFRASTRUCTURE
22 PROGRAM.
23 1. The treasurer of state may issue bonds for
24 purposes of the school infrastructure program
25 established in section 292.2. Excluding the issuance
26 of refunding bonds, the treasurer of state shall not
27 issue bonds which result in the deposit of bond
28 proceeds of more than fifty million dollars into the
29 school infrastructure fund. The treasurer of state
30 shall have all of the powers which are necessary to
31 issue and secure bonds and carry out the purposes of
32 the fund. The treasurer of state may issue bonds in
33 principal amounts which are necessary to provide funds
34 for the fund as provided by this section, the payment
35 of interest on the bonds, the establishment of
36 reserves to secure the bonds, the costs of issuance of
37 the bonds, other expenditures of the treasurer of
38 state incident to and necessary or convenient to carry
39 out the bond issue for the fund, and all other
40 expenditures of the treasurer of state necessary or
41 convenient to administer the fund. The bonds are
42 investment securities and negotiable instruments
43 within the meaning of and for purposes of the uniform
44 commercial code.
45 2. Bonds issued under this section are payable
46 solely and only out of the moneys, assets, or revenues
47 of the school infrastructure fund and any bond reserve
48 funds, all of which may be deposited with trustees or
49 depositories in accordance with bond or security
50 documents and pledged by the treasurer of state to the
Page 2
1 payment thereof. Bonds issued under this section
2 shall contain on their face a statement that the bonds
3 do not constitute an indebtedness of the state. The
4 treasurer of state shall not pledge the credit or
5 taxing power of this state or any political
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League of Women Voters of Iowa
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