House Journal: Page 1367: Friday, April 25, 2003
42 writing to the state appeal board no later than July
43 31 following certification. The burden shall be on
44 the municipality to prove that the physical plant and
45 equipment levy revenue is necessary to pay principal
46 and interest on bonds issued prior to July 1, 2001. A
47 final decision must be issued by the state appeal
48 board no later than the following October 1.
49 Sec. 14. Section 403.19, Code 2003, is amended by
50 adding the following new subsections:
Page 8
1 NEW SUBSECTION. 8. For fiscal years beginning on
2 or after July 1, 2004, the board of directors of a
3 school district may, by resolution, direct that the
4 amount of foundation property tax imposed against the
5 valuation in subsection 2 be paid into the special
6 fund of the municipality. The resolution may apply to
7 plans or projects begun on or after July 1, 2003, and
8 shall be in effect for the life of the urban renewal
9 plan, or for a lesser period of time if the school
10 district board of directors and the governing body of
11 the municipality agree. The resolution shall be filed
12 with the county auditor.
13 NEW SUBSECTION. 9. For any fiscal year, a
14 municipality may certify to the county auditor for
15 foundation property tax revenue of a school district
16 necessary for payment of principal and interest on
17 obligations incurred prior to July 1, 2004, only if
18 the municipality certified for such revenue on or
19 before May 15, 2003. A municipality shall not certify
20 to the county auditor for a school district more than
21 the amount the municipality certified on or before May
22 15, 2003. If for any fiscal year a municipality fails
23 to certify to the county auditor for a school district
24 by July 1 the amount of foundation property tax
25 revenue of a school district necessary for payment of
26 principal and interest on such obligations, as
27 provided in subsection 2, the school district is not
28 required to pay over the revenue to the municipality.
29 The county auditor shall immediately certify to the
30 school district the amount of such levy that is
31 necessary to pay the principal and interest on
32 obligations incurred by the municipality to finance an
33 urban renewal project, which obligations were incurred
34 prior to July 1, 2004. Indebtedness incurred to
35 refund bonds issued prior to July 1, 2004, shall not
36 be included in the certification. Such school
37 district shall pay over the amount certified by
38 November 1 and May 1 of the fiscal year following
39 certification to the school district.
40 If a school district and a municipality are unable
© 2003 Cornell College and
League of Women Voters of Iowa
Comments about this site or page?
hjourn@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Wed Jul 16 15:30:00 CDT 2003
URL: /DOCS/GA/80GA/Session.1/HJournal/01300/01367.html
jhf