Statutes > Iowa Statutes > Title 10 - Financial Resources > Subtitle 1 - Revenues and Financial Management > CHAPTER 423F - STATEWIDE SCHOOL INFRASTRUCTURE FUNDING > 423F.4 - BORROWING AUTHORITY FOR SCHOOL DISTRICTS.

423F.4 - BORROWING AUTHORITY FOR SCHOOL DISTRICTS.

        423F.4  BORROWING AUTHORITY FOR SCHOOL DISTRICTS.         A school district may anticipate its share of the revenues under      section 423F.2 by issuing bonds in the manner provided in section      423E.5.  However, to the extent any school district has issued bonds      anticipating the proceeds of an extended local sales and services tax      for school infrastructure purposes imposed by a county pursuant to      former chapter 423E, Code and Code Supplement 2007, prior to July 1,      2008, the pledge of such revenues for the payment of principal and      interest on such bonds shall be replaced by a pledge of its share of      the revenues under section 423F.2.
         Section History: Recent Form
         2008 Acts, ch 1134, §30         Referred to in § 423F.3