24.6 - EMERGENCY FUND -- LEVY.
24.6 EMERGENCY FUND -- LEVY.
1. A municipality may include in the estimate required, an
estimate for an emergency fund. A municipality may assess and levy a
tax for the emergency fund at a rate not to exceed twenty-seven cents
per thousand dollars of assessed value of taxable property of the
municipality. However, an emergency tax levy shall not be made until
the municipality has first petitioned the state board and received
its approval.
2. a. Transfers of moneys may be made from the emergency fund
to any other fund of the municipality for the purpose of meeting
deficiencies in a fund arising from any cause. However, a transfer
shall not be made except upon the written approval of the state
board, and then only when that approval is requested by a two-thirds
vote of the governing body of the municipality.
b. Notwithstanding the requirements of paragraph "a", if
the municipality is a school corporation, the school corporation may
transfer money from the emergency fund to any other fund of the
school corporation for the purpose of meeting deficiencies in a fund
arising within two years of a disaster as defined in section 29C.2,
subsection 1. However, a transfer under this paragraph "b" shall
not be made without the written approval of the school budget review
committee. Section History: Early Form
[C24, 27, 31, 35, 39, § 373; C46, 50, 54, 58, 62, 66, 71, 73,
75, 77, 79, 81, § 24.6] Section History: Recent Form
83 Acts, ch 123, § 31, 209; 2009 Acts, ch 65, §1
Referred to in § 24.9, 24.14, 24.20, 29C.20