76.4 - PERMISSIVE APPLICATION OF FUNDS.
76.4 PERMISSIVE APPLICATION OF FUNDS.
Whenever the governing authority of such political subdivision
shall have on hand funds derived from any other source than taxation
which may be appropriated to the payment either of interest or
principal, or both principal and interest of such bonds, such funds
may be so appropriated and used and the levy for the payment of the
bonds correspondingly reduced. This section shall not restrict the
authority of a political subdivision to apply sales and services tax
receipts collected pursuant to chapter 423B for such purpose.
Notwithstanding section 423F.3, a school district may apply tax
receipts received pursuant to chapter 423F for the purposes of this
section. Section History: Early Form
[C27, 31, 35, § 1179-b3; C39, § 1179.4; C46, 50, 54, 58, 62,
66, 71, 73, 75, 77, 79, 81, § 76.4] Section History: Recent Form
2001 Acts, ch 151, §1; 2008 Acts, ch 1134, §38
Referred to in § 76.5