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Senate
File
82
-
Introduced
SENATE
FILE
82
BY
SALMON
A
BILL
FOR
An
Act
relating
to
elections
for
bonds
issued
by
a
school
1
district
in
anticipation
of
revenue.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
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82
Section
1.
Section
423F.4,
subsection
2,
paragraphs
a
and
b,
1
Code
2025,
are
amended
to
read
as
follows:
2
a.
Bonds
issued
on
or
after
July
1,
2019,
shall
not
be
sold
3
at
public
sale
as
provided
in
chapter
75
,
or
at
a
private
sale,
4
without
notice
and
hearing.
Notice
of
the
time
and
place
of
5
the
public
hearing
shall
be
published
not
less
than
ten
nor
6
more
than
twenty
days
before
the
public
hearing
in
a
newspaper
7
which
is
a
newspaper
of
general
circulation
in
the
school
8
district.
9
b.
For
bonds
subject
to
the
requirements
of
paragraph
10
“a”
for
the
amount
of
five
million
dollars
or
more
,
or
if
at
11
any
time
prior
to
the
fifteenth
day
following
the
hearing
,
12
held
under
paragraph
“a”
the
secretary
of
the
board
of
13
directors
receives
a
petition
containing
the
required
number
14
of
signatures
and
asking
that
the
question
of
the
issuance
of
15
such
bonds
a
bond
for
the
amount
of
less
than
five
million
16
dollars
be
submitted
to
the
voters
of
the
school
district,
17
the
board
shall
either
rescind
its
adoption
of
the
resolution
18
or
direct
the
county
commissioner
of
elections
to
submit
the
19
question
to
the
registered
voters
of
the
school
district
at
an
20
election
held
on
the
date
specified
in
section
39.2,
subsection
21
4
,
paragraph
“d”
.
The
petition
must
be
signed
by
eligible
22
electors
equal
in
number
to
not
less
than
one
hundred
or
thirty
23
percent
of
the
number
of
voters
at
the
last
preceding
election
24
of
school
officials
under
section
277.1
,
whichever
is
greater.
25
If
the
board
submits
the
question
at
an
election
and
a
majority
26
sixty
percent
of
those
voting
on
the
question
favors
issuance
27
of
the
bonds,
the
board
shall
be
authorized
to
issue
the
bonds.
28
EXPLANATION
29
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
30
the
explanation’s
substance
by
the
members
of
the
general
assembly.
31
This
bill
relates
to
elections
for
bonds
issued
by
a
school
32
district
in
anticipation
of
revenues
from
the
secure
an
33
advanced
vision
for
education
(SAVE)
fund.
The
bill
requires
a
34
school
district
to
submit
the
question
of
the
issuance
of
such
35
-1-
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bonds
to
the
voters
of
the
school
district
prior
to
issuing
1
the
bond
if
the
bond
is
for
the
amount
of
$5
million
or
more.
2
Under
current
law,
such
bonds
are
only
subject
to
an
election
3
upon
the
receipt
of
a
petition
requesting
that
the
question
of
4
the
bond
be
submitted
to
the
voters
of
the
school
district.
5
The
bill
also
requires
all
such
bonds
submitted
to
voters
to
6
receive
the
approval
of
60
percent
of
the
voters
voting
on
7
the
question
of
the
issuance
of
the
bond.
An
election
for
a
8
bond
issued
in
anticipation
of
revenues
from
the
SAVE
fund
is
9
subject
to
the
notice
requirements
of
Code
section
39.5.
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