A municipality may include in the estimate required, an estimate for an emergency fund. A municipality may assess and levy a tax for the emergency fund at a rate not to exceed twenty-seven cents per thousand dollars of assessed value of taxable property of the municipality, provided that an emergency tax levy shall not be made until the municipality has first petitioned the state board and received its approval. Transfers of moneys may be made from the emergency fund to any other fund of the municipality for the purpose of meeting deficiencies in a fund arising from any cause, provided that a transfer shall not be made except upon the written approval of the state board, and then only when that approval is requested by a two-thirds vote of the governing body of the municipality.
[C24, 27, 31, 35, 39, § 373; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 24.6]
83 Acts, ch 123, § 31, 209
Referred to in § 24.9, 24.14, 29C.20
Iowa General Assembly
Search: Iowa Code 1995
© 1996 Cornell College and League of Women Voters of Iowa
Comments? webmaster@legis.iowa.gov.
Last update: Thu Feb 8 18:14:51 CST 1996
URL: /IACODE/1995/24/6.html
jhf