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House File 324 - IntroducedA Bill ForAn Act 1designating child care facilities as an essential
2corporate purpose.
3BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 384.24, subsection 3, Code 2021, is
2amended by adding the following new paragraph:
3 NEW PARAGRAPH. y. The acquisition and improvement of real
4estate for and the construction of a child care facility as
5defined in Code section 237A.1.
6EXPLANATION
7The inclusion of this explanation does not constitute agreement with
8the explanation’s substance by the members of the general assembly.
9This bill amends the definition of essential corporate
10purpose to include the acquisition and improvement of real
11estate for and the construction of a child care facility as
12defined in Code section 237A.1.
13Under Code chapter 384, a city may generally contract
14indebtedness and approve the issuance of general obligation
15bonds to carry out an essential corporate purpose without
16approval by voters at an election, while the issuance of
17general obligation bonds to carry out a general corporate
18purpose generally requires approval by voters at election.
-1-md/jh
2corporate purpose.
3BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 384.24, subsection 3, Code 2021, is
2amended by adding the following new paragraph:
3 NEW PARAGRAPH. y. The acquisition and improvement of real
4estate for and the construction of a child care facility as
5defined in Code section 237A.1.
6EXPLANATION
7The inclusion of this explanation does not constitute agreement with
8the explanation’s substance by the members of the general assembly.
9This bill amends the definition of essential corporate
10purpose to include the acquisition and improvement of real
11estate for and the construction of a child care facility as
12defined in Code section 237A.1.
13Under Code chapter 384, a city may generally contract
14indebtedness and approve the issuance of general obligation
15bonds to carry out an essential corporate purpose without
16approval by voters at an election, while the issuance of
17general obligation bonds to carry out a general corporate
18purpose generally requires approval by voters at election.
-1-md/jh