House Journal: Page 1275: Wednesday, April 23, 2003
9 a school district receives or would receive if a local
10 sales and services tax for school infrastructure
11 purposes is imposed at one percent in the county
12 pursuant to section 422E.2, divided by the school
13 district's actual enrollment as determined in section
14 422E.3, subsection 5, paragraph "d".
15 (3) "Statewide tax revenues per student" means the
16 amount determined by estimating the total revenues
17 that would be generated by a one percent local option
18 sales and services tax for school infrastructure
19 purposes if imposed by all the counties during the
20 entire fiscal year and dividing this estimated revenue
21 amount by the sum of the combined actual enrollment
22 for all counties as determined in section 422E.3,
23 subsection 5, paragraph "d", subparagraph (2).
24 (4) "Supplemental school infrastructure amount"
25 means the guaranteed school infrastructure amount for
26 the school district less its pro rata share of local
27 sales and services tax for school infrastructure
28 purposes as provided in section 422E.3, subsection 5,
29 paragraph "d".
30 4. a. For the purposes of distribution under
31 subsection 2, paragraph "b", subparagraph (1), a
32 school district with a sales tax capacity per student
33 below its guaranteed school infrastructure amount
34 shall use the amount equal to the guaranteed school
35 infrastructure amount less the pro rata share amount
36 in accordance with section 422E.3, subsection 5,
37 paragraph "d", for the purpose of paying principal and
38 interest on outstanding bonds previously issued for
39 school infrastructure purposes as defined in section
40 422E.1, subsection 3. Any money remaining after the
41 payment of all principal and interest on outstanding
42 bonds previously issued for infrastructure purposes
43 may be used for any authorized infrastructure purpose
44 of the school district. If a majority of the voters
45 in the school district approves the use of revenue
46 pursuant to a revenue purpose statement in an election
47 held after July 1, 2003, in the school district
48 pursuant to section 422E.2, the school district may
49 use the amount for the purposes specified in its
50 revenue purpose statement.
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1 b. Nothing in this section shall prevent a school
2 district from using its sales tax capacity per student
3 or guaranteed school infrastructure amount to pay
4 principal and interest on obligations issued pursuant
5 to section 422E.4.
6 5. In the case of a deficiency in the fund to pay
7 the supplemental school infrastructure amounts in
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