House Journal: Page 1921: Wednesday, April 26, 2000
Page 2
1 bond; bear a rate of interest not exceeding that
2 permitted by chapter 74A, payable semiannually; be
3 signed by the president and countersigned by the
4 secretary of the board of directors; and shall not be
5 disposed of for less than par value, nor issued for
6 other purposes than this chapter provides be sold at
7 public or private sale at a price as may be determined
8 by the board of directors. Such bonds may be sold at
9 not less than ninety-eight percent of par or may be
10 exchanged for other bonds at not less than ninety-
11 eight percent of par.
12 Sec. . Section 422E.4, unnumbered paragraph 1,
13 Code Supplement 1999, is amended to read as follows:
14 The board of directors of a school district shall
15 be authorized to issue negotiable, interest-bearing
16 school bonds, without election, and utilize tax
17 receipts derived from the sales and services tax for
18 school infrastructure purposes for principal and
19 interest repayment. Proceeds of the bonds issued
20 pursuant to this section shall be utilized solely for
21 school infrastructure needs as school infrastructure
22 is defined in section 422E.1, subsection 3. Issuance
23 of bonds pursuant to this section shall be permitted
24 only in a district which has imposed a local sales and
25 services tax for school infrastructure purposes
26 pursuant to section 422E.2. The provisions of
27 sections 298.22 through 298.24 shall apply regarding
28 the form, rate of interest, registration, redemption,
29 and recording of bond issues pursuant to this section,
30 with the exception that the maximum period during
31 which principal on the bonds is payable shall not
32 exceed a ten-year period, or the date of repeal stated
33 on the ballot proposition. Bonds issued pursuant to
34 this section may be sold at public or private sale at
35 a price as may be determined by the board of directors
36 of the school district. Such bonds may be sold at not
37 less than ninety-eight percent of par or may be
38 exchanged for other bonds at not less than ninety-
39 eight percent of par."
40 5. By renumbering, redesignating, and correcting
41 internal references as necessary.
On motion by Hansen of Pottawattamie amendment H-9111A was
adopted, placing amendment H-9112 filed by Huser of Polk from the
floor, out of order.
Mascher of Johnson offered amendment H-9107, to the Senate
amendment H-9105, filed by her from the floor as follows:
© 2000 Cornell College and
League of Women Voters of Iowa
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