1. The board of directors of a school district may sell, lease, or dispose of, in whole or in part, a schoolhouse, site, or other property belonging to the district. However, if the appraised value exceeds twenty- five thousand dollars, the board shall hold a public hearing before the board takes final action on the property.
Proceeds from the sale or disposition of real property shall be placed in the physical plant and equipment levy fund. Proceeds from the sale or disposition of property other than real property shall be placed in the general fund. Proceeds from the lease of real or other property shall be placed in the general fund.
Before the board of directors may sell, lease or dispose of any property belonging to the school district it shall comply with the requirements set forth in sections 297.15 to 297.20 and sections 297.23 and 297.24. Any real estate proposed to be sold shall be appraised by three disinterested freeholders residing in the school district and appointed by the chief judge of the judicial district of the county in which said real estate is located from the list of compensation commissioners.
The board of directors of a school district may sell, lease, exchange, give, or grant, and accept any interest in real property to, with, or from a county, municipal corporation, school district, township, or area education agency if the real property is within the jurisdiction of both the grantor and grantee. In this case sections 297.15 to 297.20, sections 297.23 and 297.24, and appraisal requirements of this section do not apply to the transaction.
The board of directors of a school district may lease a portion of an existing school building in which the remaining portion of the building will be used for school purposes for a period of not to exceed five years. The lease may be renewed at the option of the board. Sections 297.15 to 297.20, sections 297.23 and 297.24, and the appraisal requirements of this section do not apply to the lease of a portion of an existing school building. A school district shall pay out of the revenue from a lease to the state of Iowa, and to the city, school district and any other political subdivision authorized to levy taxes, an amount as determined by this section. The amount shall be determined by applying the annual tax rate of the taxing district to the assessed value of the portion of the building leased, prorated for the term of the lease during the appropriate taxing period. The provisions of this section relating to the payment of property tax because of leases shall only apply to leases to private, for-profit entities which lease a portion of a school building for a period of thirty or more consecutive days.
2. The provisions in subsection 1, relating to the sale, lease, or disposition of school dis- trict property do not apply to student-constructed buildings and the property on which student-constructed buildings are located. The board of directors of a school district may sell, lease, or dispose of a student-constructed building and the property on which the student-constructed building is lo- cated, and may purchase sites for the erection of additional structures, by any procedure which is adopted by the board.
[C27, 31, 35, § 4385-a1; C39, § 4385.1; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 297.22; 81 Acts, ch 93, § 1--;4]
85 Acts, ch 8, § 1; 86 Acts, ch 1223, § 1--;3; 90 Acts, ch 1018, § 1; 94 Acts, ch 1029, §22; 94 Acts, ch 1089, §2
Referred to in § 7.20, 278.1, 297.25, 331.361, 364.21
Sale for defense projects, § 274.39--;274.41
Iowa General Assembly
Search: Iowa Code 1997
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