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 explanations 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