House Journal: Page 1800: Thursday, May 3, 2001
18 issued for the purpose of refunding outstanding and
19 previously issued bonds under this section without
20 otherwise complying with the provisions of this
21 section.
22 2. The provisions of chapter 76 apply to the bonds
23 payable as provided in this subsection, except that
24 the mandatory levy to be assessed pursuant to section
25 76.2 shall be at a rate to generate an amount which
26 together with the receipts from the pledged designated
27 portion of the school district's amount received from
28 the school district sales and use tax fund under
29 section 293.1 is sufficient to pay the interest and
30 principal on the bonds. All amounts collected as a
31 result of the levy assessed pursuant to section 76.2
32 and paid out for bond principal and interest shall be
33 repaid to the school district from the first available
34 designated portion of the school district's amount
35 received from the school district sales and use tax
36 fund under section 293.1 received in excess of the
37 requirement for the payment of the principal and
38 interest of the bonds and when repaid shall be applied
39 in reduction of property taxes. The amount of bonds
40 which may be issued under section 76.3 shall be the
41 amount which could be retired from the actual
42 collections of the designated portions of the school
43 district's amount received from the school district
44 sales and use tax fund under section 293.1 for the
45 last four calendar quarters, as certified by the
46 director of revenue and finance. The amount of tax
47 revenues pledged jointly by other cities or counties
48 may be considered for the purpose of determining the
49 amount of bonds which may be issued.
50 3. The provisions of this section constitute
Page 7
1 separate authorization for the issuance of bonds and
2 shall prevail in the event of conflict with any other
3 provisions of state law limiting the amount of bonds
4 which may be issued or the source of payment of the
5 bonds. Bonds issued under this section shall not
6 limit or restrict the authority of the school district
7 to issue bonds under other provisions of state law.
8 Sec. . NEW SECTION. 293.4 REPEAL.
9 This chapter is repealed July 1, 2021, for fiscal
10 years beginning on or after that date.
11 Sec. . Section 298.18, unnumbered paragraph 4,
12 Code 2001, is amended by striking the unnumbered
13 paragraph and inserting in lieu thereof the following:
14 If the school corporation's amount received from
15 the school district sales and use tax fund under
16 section 293.1 does not equal or exceed the amount
© 2001 Cornell College and
League of Women Voters of Iowa
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