House Journal: Page 1277: Wednesday, April 23, 2003
7 h. Cooperation with other educational entities
8 including other school districts, area education
9 agencies, postsecondary institutions, and local
10 communities.
11 Sec. 9. Section 422E.4, unnumbered paragraphs 1
12 and 2, Code 2003, are amended to read as follows:
13 The board of directors of a school district shall
14 be authorized to issue negotiable, interest-bearing
15 school bonds, without election, and utilize tax
16 receipts derived from the sales and services tax for
17 school infrastructure purposes and the supplemental
18 school infrastructure amount distributed pursuant to
19 section 422E.3A, subsection 2, paragraph "b", for
20 principal and interest repayment. Proceeds of the
21 bonds issued pursuant to this section shall be
22 utilized solely for school infrastructure needs as
23 school infrastructure is defined in section 422E.1,
24 subsection 3. Issuance of bonds pursuant to this
25 section shall be permitted only in a district which
26 has imposed a local sales and services tax for school
27 infrastructure purposes pursuant to section 422E.2.
28 The provisions of sections 298.22 through 298.24 shall
29 apply regarding the form, rate of interest,
30 registration, redemption, and recording of bond issues
31 pursuant to this section, with the exception that the
32 maximum period during which principal on the bonds is
33 payable shall not exceed a ten-year period, or the
34 date of repeal stated on the ballot proposition.
35 A school district in which a local option sales tax
36 for school infrastructure purposes has been imposed
37 shall be authorized to enter into a chapter 28E
38 agreement with one or more cities or a county whose
39 boundaries encompass all or a part of the area of the
40 school district. A city or cities entering into a
41 chapter 28E agreement shall be authorized to expend
42 its designated portion of the local option sales and
43 services tax revenues for any valid purpose permitted
44 in this chapter or authorized by the governing body of
45 the city. A county entering into a chapter 28E
46 agreement with a school district in which a local
47 option sales tax for school infrastructure purposes
48 has been imposed shall be authorized to expend its
49 designated portion of the local option sales and
50 services tax revenues to provide property tax relief
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1 within the boundaries of the school district located
2 in the county. A school district where a local option
3 sales and services tax is imposed is also authorized
4 to enter into a chapter 28E agreement with another
5 school district, a community college, or an area
© 2003 Cornell College and
League of Women Voters of Iowa
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