Text: HF00572 Text: HF00574 Text: HF00500 - HF00599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 76.4, Code 2001, is amended to read as
1 2 follows:
1 3 76.4 PERMISSIVE APPLICATION OF FUNDS.
1 4 Whenever the governing authority of such political
1 5 subdivision shall have on hand funds derived from any other
1 6 source than taxation which may be appropriated to the payment
1 7 either of interest or principal, or both principal and
1 8 interest of such bonds, such funds may be so appropriated and
1 9 used and the levy for the payment of the bonds correspondingly
1 10 reduced. This section shall not restrict the authority of a
1 11 political subdivision to apply sales and services tax receipts
1 12 collected pursuant to chapters 422B and 422E for such purpose.
1 13 EXPLANATION
1 14 This bill provides that Code section 76.4, which authorizes
1 15 the reduction of a levy for the payment of bonds when the
1 16 governing authority of a political subdivision has
1 17 nontaxation-related funds on hand to appropriate for the
1 18 payment of bond interest or principal, shall not restrict or
1 19 impact the political subdivision's authority to apply sales
1 20 and services tax receipts collected pursuant to Code chapters
1 21 422B or 422E for the same purpose.
1 22 LSB 2921HH 79
1 23 rn/cf/24
Text: HF00572 Text: HF00574 Text: HF00500 - HF00599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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