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House Journal: Page 1920: Wednesday, April 26, 2000

5 following:
6 " $ 1,284,586"
7 2. Page 19, by striking lines 23 through 37.
8 3. Page 29, by striking lines 18 through 27.


9 4. Page 31, by inserting after line 17 the
10 following:
11 "Sec. ___. Section 296.1, Code 1999, is amended to
12 read as follows:
14 Subject to the approval of the voters thereof,
15 school districts are hereby authorized to contract
16 indebtedness and to issue general obligation bonds to
17 provide funds to defray the cost of purchasing,
18 building, furnishing, reconstructing, repairing,
19 improving, or remodeling a schoolhouse or schoolhouses
20 and additions thereto, gymnasium, stadium, field
21 house, school bus garage, teachers' or
22 superintendent's home or homes, and procuring a site
23 or sites therefor, or purchasing land to add to a site
24 already owned, or procuring and improving a site for
25 an athletic field, or improving a site already owned
26 for an athletic field, and for any one or more of such
27 purposes. Taxes for the payment of said bonds shall
28 be levied in accordance with chapter 76, and said such
29 bonds shall mature within a period not exceeding
30 twenty years from date of issue, shall bear interest
31 at a rate or rates not exceeding that permitted by
32 chapter 74A, and shall be of such form as the board of
33 directors of such school district shall by resolution
34 provide, but the aggregate indebtedness of any school
35 district shall not exceed five percent of the actual
36 value of the taxable property within said the school
37 district, as ascertained by the last preceding state
38 and county tax lists. The bonds may be sold at public
39 or private sale at a price as may be determined by the
40 board of directors. Such bonds may be sold at not
41 less than ninety-eight percent of par or may be
42 exchanged for other bonds at not less than ninety-
43 eight percent of par.
44 Sec. . Section 298.22, unnumbered paragraph 1,
45 Code 1999, is amended to read as follows:
46 All of said bonds shall be substantially in the
47 form provided for county bonds, but subject to changes
48 that will conform them to the action of the board
49 providing therefor; shall run not more than twenty
50 years, and may be sooner paid if so nominated in the

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