H.F. 2058 Section 1. Section 360.3, Code 2016, is amended to read as 1 follows: 2 360.3 Transfer of fund. 3 When there are funds in under the hands control of a township 4 clerk, raised under this chapter which are not desired for the 5 purposes for which they were raised, the funds trustees may , 6 by majority vote, order that the funds be transferred to the 7 general fund of a school district or districts pro rata in 8 which the funds were raised , when a petition is presented to 9 the trustees, signed by a majority of the registered voters of 10 the township, as shown by the election register or registers 11 of the last preceding primary or general election held in the 12 township . The transfer of funds shall be made by the township 13 clerk upon order of the trustees after the filing of the 14 petition with the clerk . 15 EXPLANATION 16 The inclusion of this explanation does not constitute agreement with 17 the explanation’s substance by the members of the general assembly. 18 This bill relates to requirements for the transfer of 19 township funds collected for purposes of purchasing or 20 lease-purchasing a public hall. Under current law, public hall 21 funds that are not needed for purposes of acquiring a public 22 hall may be transferred by order of the trustees to the general 23 funds of the school districts where the funds were raised upon 24 receipt of a petition presented by registered voters of the 25 township. Under the bill, such funds may be transferred to 26 school district general funds by order of the trustees upon a 27 majority vote of the township trustees. 28 -1- LSB 5499YH (2) 86 aw/sc 1/ 1