House File 775 - Introduced



                                     HOUSE FILE       
                                     BY  COMMITTEE ON LOCAL GOVERNMENT

                                     (SUCCESSOR TO HSB 206)


    Passed House, Date               Passed Senate,  Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to county general obligation bonds by modifying
  2    the definition of essential county purpose and by changing the
  3    requirements under which a county may issue general county
  4    purpose bonds without an election.
  5 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  6 TLSB 1658HV 82
  7 eg/es/88

PAG LIN



  1  1    Section 1.  Section 331.441, subsection 2, paragraph b,
  1  2 subparagraph (5), subparagraph subdivisions (a) through (e),
  1  3 Code 2007, are amended to read as follows:
  1  4    (a)  Four Eight hundred thousand dollars in a county having
  1  5 a population of twenty=five thousand or less.
  1  6    (b)  Five hundred thousand One million dollars in a county
  1  7 having a population of more than twenty=five thousand but not
  1  8 more than fifty thousand.
  1  9    (c)  Six One million two hundred thousand dollars in a
  1 10 county having a population of more than fifty thousand but not
  1 11 more than one hundred thousand.
  1 12    (d)  Eight One million six hundred thousand dollars in a
  1 13 county having a population of more than one hundred thousand
  1 14 but not more than two hundred thousand.
  1 15    (e)  One Two million dollars in a county having a
  1 16 population of more than two hundred thousand.
  1 17    Sec. 2.  Section 331.441, subsection 2, paragraph b, Code
  1 18 2007, is amended by adding the following new subparagraph:
  1 19    NEW SUBPARAGRAPH.  (16)  Capital projects not otherwise
  1 20 specified in this paragraph "b", including the construction,
  1 21 reconstruction, improvement, repair, or equipping of bridges,
  1 22 roads, and culverts.
  1 23    Sec. 3.  Section 331.442, subsection 5, paragraph a,
  1 24 subparagraphs (1) through (3), Code 2007, are amended to read
  1 25 as follows:
  1 26    (1)  In counties having a population of twenty thousand or
  1 27 less, in an amount of not more than fifty four hundred
  1 28 thousand dollars.
  1 29    (2)  In counties having a population of over twenty
  1 30 thousand and not over fifty thousand, in an amount of not more
  1 31 than one seven hundred thousand dollars.
  1 32    (3)  In counties having a population of over fifty
  1 33 thousand, in an amount of not more than one hundred fifty
  1 34 thousand million dollars.
  1 35                           EXPLANATION
  2  1    Currently, a county may issue general obligation bonds for
  2  2 an essential county purpose to construct and reconstruct
  2  3 public buildings without the bonds being approved at an
  2  4 election when the cost does not exceed certain limits based
  2  5 upon the population of the county.  This bill increases the
  2  6 cost limits for such public buildings.
  2  7    The bill also amends the definition of an "essential county
  2  8 purpose", allowing a county to issue general obligation bonds
  2  9 without an election for capital projects not otherwise
  2 10 specifically provided for, including the construction,
  2 11 reconstruction, improvement, repair, or equipping of bridges,
  2 12 roads, and culverts.
  2 13    Currently, a county may proceed to issue general obligation
  2 14 bonds for a general county purpose without an election by
  2 15 providing the required notice in Code section 331.442,
  2 16 subsection 5, subject to petition for an election, if the bond
  2 17 amount does not exceed certain amounts based on the population
  2 18 of the county.  The bill increases those bond amounts.
  2 19 LSB 1658HV 82
  2 20 eg:sc/es/88