331.478 - NONCURRENT DEBT AUTHORIZED.

        331.478  NONCURRENT DEBT AUTHORIZED.         1.  A county may contract indebtedness and issue bonds as      otherwise provided by state law.         2.  The board may by resolution authorize noncurrent debt as      defined in subsection 3 which is payable from resources accruing      after the end of the fiscal year in which the debt is incurred, in      accordance with section 331.479, for any of the following purposes:         a.  Expenditures for bridges or buildings destroyed by fire,      flood, or other extraordinary casualty.         b.  Expenditures incurred in the operation of the courts.         c.  Expenditures for bridges which are made necessary by the      construction of a public drainage improvement.         d.  Expenditures for the benefit of a person entitled to      receive assistance from public funds.         e.  Expenditures authorized by vote of the electorate.         f.  Contracts executed on the basis of the budget submitted as      provided in section 309.93.         g.  Expenditures authorized by supervisors acting in the      capacity of trustees or directors of a drainage district or other      special district.         h.  Expenditures for land acquisition and capital improvements      for county conservation purposes not to exceed in any year the      monetary equivalent of a tax of six and three-fourths cents per      thousand dollars of assessed value on all the taxable property in the      county.         i.  Expenditures for purposes for which counties may issue      general obligation bonds without an election under state law.         3.  Noncurrent debt authorized by subsection 2 may take any of the      following forms:         a.  Anticipatory warrants subject to chapter 74.  Anticipatory      warrants drawn on the secondary road fund are also subject to      sections 309.46 through 309.55.         b.  Advances from other funds.         c.  Installment purchase contracts.         d.  Other formal debt instruments or obligations other than      bonds.         4.  Noncurrent debt as defined in subsection 3 shall be retired      from resources of the fund from which the expenditure was made for      which the debt was incurred.  
         Section History: Recent Form
         83 Acts, ch 123, § 25, 209; 87 Acts, ch 161, §1         Referred to in § 331.476, 331.479