Senate File 28 - Introduced
SENATE FILE
BY SCHOENJAHN
(COMPANION TO LSB 1168HH
BY FICKEN)
Passed Senate, Date Passed House, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act relating to the ballot proposition for approving issuance
2 of county general obligation bonds and including effective
3 date, validation, and retroactive applicability provisions.
4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
5 TLSB 1168SS 83
6 sc/rj/14
PAG LIN
1 1 Section 1. Section 331.442, subsection 2, Code 2009, is
1 2 amended to read as follows:
1 3 2. Before the board may institute proceedings for the
1 4 issuance of bonds for a general county purpose, it shall call
1 5 a county special election to vote upon the question of issuing
1 6 the bonds. At the election the proposition shall be submitted
1 7 in the following form:
1 8 Shall the county of ....., state of Iowa, be authorized
1 9 to ....... (state purpose of project) at a total cost not
1 10 exceeding $... and issue its general obligation bonds in an
1 11 amount not exceeding the amount of $... for that the purpose
1 12 of ............?
1 13 Sec. 2. Section 331.447, subsection 1, paragraph b, Code
1 14 2009, is amended to read as follows:
1 15 b. The amount estimated and certified to apply on
1 16 principal and interest for any one year may only exceed the
1 17 statutory rate of levy limit, if any, by the amount that the
1 18 registered voters of the county have approved at a special
1 19 election, which may be held at the same time as the general
1 20 election and may be included in the proposition authorizing
1 21 the issuance of bonds, if an election on the proposition is
1 22 necessary, or may be submitted as a separate proposition at
1 23 the same election or at a different election. Notice of the
1 24 election shall be given as specified in section 331.305. If
1 25 the proposition includes issuing bonds and increasing the levy
1 26 limit, it shall be in substantially the following form:
1 27 Shall the county of ....., state of Iowa, be authorized
1 28 to .......... (here state purpose of project) at a total cost
1 29 not exceeding $.... and issue its general obligation bonds
1 30 in an amount not exceeding the amount of $.... for that
1 31 purpose, and be authorized to levy annually a tax not
1 32 exceeding ... dollars and ... cents per thousand dollars of
1 33 the assessed value of the taxable property within the county
1 34 to pay the principal of and interest on the bonds?
1 35 If the proposition includes only increasing the levy limit
2 1 it shall be in substantially the following form:
2 2 Shall the county of ....., state of Iowa, be authorized to
2 3 levy annually a tax not exceeding ... dollars and ... cents
2 4 per thousand dollars of the assessed value of the taxable
2 5 property within the county to pay principal and interest
2 6 on the bonded indebtedness of the county for the purpose
2 7 of ..........?
2 8 Sec. 3. VALIDATION AND RETROACTIVE APPLICABILITY == BOARD
2 9 RESOLUTION.
2 10 1. If, on the effective date of this Act, the cost of a
2 11 project authorized by ballot proposition that approved the
2 12 issuance of county general obligation bonds at an election
2 13 held prior to the effective date of this Act does not exceed
2 14 one hundred ten percent of the project cost stated on the
2 15 ballot proposition, the bond issuance amount and tax levy
2 16 authorization as stated on the ballot and the increased cost
2 17 of the project are hereby legalized and validated and, to that
2 18 extent, this Act applies retroactively to the date of the
2 19 election.
2 20 2. The board of supervisors of a county may proceed with a
2 21 project under subsection 1 only after adoption of a resolution
2 22 stating the project's compliance with the conditions of
2 23 subsection 1 and the board's intention to proceed with the
2 24 project.
2 25 Sec. 4. EFFECTIVE DATE. This Act, being deemed of
2 26 immediate importance, takes effect upon enactment.
2 27 EXPLANATION
2 28 This bill modifies the ballot proposition language relating
2 29 to issuance of county general obligation bonds to remove the
2 30 requirement that the total cost of the project be stated on
2 31 the ballot, in addition to the amount of the bond issuance for
2 32 which approval is being sought at election.
2 33 The bill legalizes and validates the issuance of general
2 34 obligation bonds approved at an election held prior to the
2 35 effective date of the bill, with respect to the amount of the
3 1 bond issuance stated on the ballot proposition, if the project
3 2 cost on the effective date of the bill does not exceed 110
3 3 percent of the project cost stated on the ballot proposition,
3 4 and, to that extent, the bill applies retroactively to the
3 5 date of the election. A county board of supervisors is
3 6 required to adopt a resolution stating project compliance and
3 7 its intention to proceed with the project.
3 8 The bill takes effect upon enactment.
3 9 LSB 1168SS 83
3 10 sc/rj/14