House File 753 - Introduced HOUSE FILE 753 BY CROKEN A BILL FOR An Act designating the acquisition of hazardous material 1 response vehicles and hazardous material response vehicle 2 equipment as an essential corporate purpose. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 2759YH (2) 91 ll/js

H.F. 753 Section 1. Section 384.24, subsection 3, Code 2025, is 1 amended by adding the following new paragraph: 2 NEW PARAGRAPH . 0l. The acquisition of hazardous material 3 response vehicles and hazardous material response vehicle 4 equipment. 5 EXPLANATION 6 The inclusion of this explanation does not constitute agreement with 7 the explanation’s substance by the members of the general assembly. 8 This bill amends the definition of “essential corporate 9 purpose” to include the acquisition of hazardous material 10 response vehicles and hazardous material response vehicle 11 equipment. 12 Under Code chapter 384, a city council may generally 13 contract indebtedness and approve the issuance of general 14 obligation bonds to carry out an essential corporate purpose 15 without approval by voters at an election, while the issuance 16 of general obligation bonds to carry out a general corporate 17 purpose generally requires approval by voters at election. 18 -1- LSB 2759YH (2) 91 ll/js 1/ 1