House Journal: Page 1880: Friday, May 4, 2001
36 November 1 and May 1 of the fiscal year following
37 certification to the school district. Unless and
38 until the total assessed valuation of the taxable
39 property in an urban renewal area exceeds the total
40 assessed value of the taxable property in such area as
41 shown by the last equalized assessment roll referred
42 to in subsection 1, all of the taxes levied and
43 collected upon the taxable property in the urban
44 renewal area shall be paid into the funds for the
45 respective taxing districts as taxes by or for the
46 taxing districts in the same manner as all other
47 property taxes. When such loans, advances,
48 indebtedness, and bonds, if any, and interest thereon,
49 have been paid, all moneys thereafter received from
50 taxes upon the taxable property in such urban renewal
Page 2
1 area shall be paid into the funds for the respective
2 taxing districts in the same manner as taxes on all
3 other property.
4 Sec. 151. Section 403.19, Code 2001, is amended by
5 adding the following new subsection:
6 NEW SUBSECTION. 7. For any fiscal year, a
7 municipality may certify to the county auditor for
8 physical plant and equipment revenue necessary for
9 payment of principal and interest on bonds issued
10 prior to July 1, 2001, only if the municipality
11 certified for such revenue for the fiscal year
12 beginning July 1, 2001. A municipality shall not
13 certify to the county auditor for a school district
14 more than the amount the municipality certified for
15 the fiscal year beginning July 1, 2001. If for any
16 fiscal year a municipality fails to certify to the
17 county auditor for a school district by July 1 the
18 amount of physical plant and equipment revenue
19 necessary for payment of principal and interest on
20 such bonds, as provided in subsection 2, the school
21 district is not required to pay over the revenue to
22 the municipality. If a school district and a
23 municipality are unable to agree on the amount of
24 physical plant and equipment revenue certified by the
25 municipality for the fiscal year beginning July 1,
26 2002, either party may request that the state appeal
27 board review and finally pass upon the amount that may
28 be certified. Such appeals must be presented in
29 writing to the state appeal board no later than July
30 31 following certification. The burden shall be on
31 the municipality to prove that the physical plant and
32 equipment levy revenue is necessary to pay principal
33 and interest on bonds issued prior to July 1, 2001. A
34 final decision must be issued by the state appeal
© 2001 Cornell College and
League of Women Voters of Iowa
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