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)FourEight hundred thousand dollars in a county having 1 5 a population of twenty=five thousand or less. 1 6 (b)Five hundred thousandOne 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)SixOne 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)EightOne 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)OneTwo 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 thanfiftyfour 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 thanoneseven hundred thousand dollars. 1 32 (3) In counties having a population of over fifty 1 33 thousand, in an amount of not more than onehundred fifty 1 34 thousandmillion 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