House Journal: Page 1799: Thursday, May 3, 2001
19 received or the levy is reduced to zero.
20 (4) The schoolhouse tax levy under section 278.1,
21 subsection 7, Code 1989, until the moneys received or
22 the levy is reduced to zero.
23 Any money remaining after the reduction of the
24 levies specified in this paragraph may be used for any
25 lawful infrastructure purpose of the school district.
26 d. For purposes of this subsection,
27 "infrastructure purposes" means those purposes for
28 which a school district is authorized to contract
29 indebtedness and issue general obligation bonds under
30 chapter 296 or to expend tax revenues under section
31 298.3, the payment of principal and interest on
32 general obligation bonds issued under chapter 296 or
33 section 298.20 or loan agreements under section
34 297.36, payments made pursuant to a lease or lease-
35 purchase agreement, or the payment of principal and
36 interest on bonds issued under section 293.3 or
37 422E.4.
38 Sec. . NEW SECTION. 293.3 BONDING.
39 A school district may issue bonds as provided in
40 this section if it complies with all of the following
41 procedures:
42 1. A school district may institute proceedings for
43 the issuance of bonds by causing a notice of the
44 proposal to issue the bonds, including a statement of
45 the amount and purpose of the bonds, and the right of
46 voters to petition for an election, to be published at
47 least once in a newspaper of general circulation
48 within the school district at least ten days prior to
49 the meeting at which it is proposed to take action for
50 the issuance of the bonds.
Page 6
1 If at any time before the date fixed for taking
2 action for the issuance of the bonds, a petition is
3 filed signed by five percent of the registered voters
4 of the school district, asking that the question of
5 issuing the bonds be submitted to the registered
6 voters, the board of directors shall either by
7 resolution declare the proposal to issue the bonds to
8 be abandoned or shall direct the county commissioner
9 of elections to call a special election upon the
10 question of issuing the bonds. The proposition of
11 issuing bonds under this section is not approved
12 unless the vote in favor of the proposition is equal
13 to at least sixty percent of the vote cast. If a
14 petition is not filed, or if a petition is filed and
15 the proposition of issuing the bonds is approved at an
16 election, the board of directors may proceed with the
17 authorization and issuance of the bonds. Bonds may be
© 2001 Cornell College and
League of Women Voters of Iowa
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