House
File
221
-
Introduced
HOUSE
FILE
221
BY
MEGGERS
A
BILL
FOR
An
Act
relating
to
the
issuance
of
bonds
by
school
districts
by
1
limiting
the
amount
offered
for
sale.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
TLSB
2437YH
(2)
91
jm/md
H.F.
221
Section
1.
NEW
SECTION
.
75.1A
Bond
issuance
by
school
1
districts
——
limitation.
2
For
projects
for
which
a
proposition
to
issue
bonds
by
a
3
school
district
was
approved
at
an
election
held
after
July
1,
4
2025,
the
total
amount
of
such
bonds
issued
for
the
project
5
under
any
provision
of
law
shall
not
exceed
an
amount
equal
to
6
eighty
percent
of
the
total
cost
of
the
project.
The
remaining
7
costs
of
the
project
shall
be
funded
from
sources
other
than
8
from
the
sale
of
bonds.
9
EXPLANATION
10
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
11
the
explanation’s
substance
by
the
members
of
the
general
assembly.
12
This
bill
relates
to
the
issuance
of
bonds
by
a
school
13
district
by
limiting
the
amount
offered
for
sale
for
certain
14
projects.
Under
the
bill,
for
projects
for
which
a
proposition
15
to
issue
such
bonds
was
approved
at
an
election
held
after
July
16
1,
2025,
the
total
amount
of
bonds
issued
for
the
project
under
17
any
provision
of
law
shall
not
exceed
an
amount
equal
to
80
18
percent
of
the
total
cost
of
the
project.
The
remaining
costs
19
of
the
project
shall
be
funded
from
sources
other
than
from
the
20
sale
of
bonds.
21
-1-
LSB
2437YH
(2)
91
jm/md
1/
1