384.25 - GENERAL OBLIGATION BONDS FOR ESSENTIAL PURPOSES.

        384.25  GENERAL OBLIGATION BONDS FOR ESSENTIAL      PURPOSES.         1.  A city which proposes to carry out any essential corporate      purpose within or without its corporate limits, and to contract      indebtedness and issue general obligation bonds to provide funds to      pay all or any part of the cost of a project must do so in accordance      with the provisions of this division.         2.  Before the council may institute proceedings for the issuance      of bonds for an essential corporate purpose, a notice of the proposed      action, including a statement of the amount and purposes of the      bonds, and the time and place of the meeting at which the council      proposes to take action for the issuance of the bonds, must be      published as provided in section 362.3.  At the meeting, the council      shall receive oral or written objections from any resident or      property owner of the city.  After all objections have been received      and considered, the council may, at that meeting or any adjournment      thereof, take additional action for the issuance of the bonds or      abandon the proposal to issue the bonds.  Any resident or property      owner of the city may appeal the decision of the council to take      additional action to the district court of the county in which any      part of the city is located, within fifteen days after the additional      action is taken, but the additional action of the council is final      and conclusive unless the court finds that the council exceeded its      authority.  The provisions of this subsection with respect to notice,      hearing, and appeal, are in lieu of the provisions contained in      chapter 73A, or any other law.         3. a.  Notwithstanding subsection 2, a council may institute      proceedings for the issuance of bonds for an essential corporate      purpose specified in section 384.24, subsection 3, paragraph "w"      or "x", in an amount equal to or greater than three million      dollars by causing a notice of the proposal to issue the bonds,      including a statement of the amount and purpose of the bonds,      together with the maximum rate of interest which the bonds are to      bear, and the right to petition for an election, to be published at      least once in a newspaper of general circulation within the city at      least ten days prior to the meeting at which it is proposed to take      action for the issuance of the bonds.         b.  If at any time before the date fixed for taking action for      the issuance of the bonds, a petition is filed with the clerk of the      city signed by eligible electors of the city equal in number to      twenty percent of the persons in the city who voted for the office of      president of the United States at the last preceding general election      that had such office on the ballot, asking that the question of      issuing the bonds be submitted to the registered voters of the city,      the council shall either by resolution declare the proposal to issue      the bonds to have been abandoned or shall direct the county      commissioner of elections to call a special election upon the      question of issuing the bonds.  Notice of the election and its      conduct shall be in the manner provided in section 384.26.         c.  If a petition is not filed, or if a petition is filed and      the proposition of issuing the bonds is approved at an election, the      council may proceed with the authorization and issuance of the bonds.      
         Section History: Early Form
         [R60, § 1060; C73, § 458; C97, § 697; S13, § 716-d, 840-e, 849-h,      -j, 912, 912-a, 1056-a43, -a63, -a64; SS15, § 758-b, -e, 840-g, -p,      997-a, -c; C24, § 5750, 5878--5881, 6103, 6126, 6261--6263, 6265,      6576, 6594, 6595, 6608, 6744, 6746; C27, 31, 35, § 5750, 5878--5881,      6066-a11, 6103, 6126, 6261--6263, 6265, 6594, 6595, 6608, 6744, 6746;      C39, § 5750, 5878--5881, 6066.13, 6103, 6126, 6261, 6261.1, 6261.2,      6262, 6263, 6265, 6576, 6594, 6595, 6608, 6744, 6746; C46, 50, §      368.13, 381.5--381.8, 392.11, 395.25, 396.22, 408.10--408.14, 408.16,      416.101, 416.104, 416.122, 416.123, 416.138, 420.55, 420.57; C54, 58,      § 368.16, 368.29, 368.32, 381.7, 392.11, 395.25, 396.22, 404.18,      408.17; C62, 66, 71, 73, § 368.16, 368.29, 368.32, 381.7, 392.11,      395.25, 396.22, 404.19, 408.17; C75, 77, 79, 81, § 384.25] 
         Section History: Recent Form
         2009 Acts, ch 100, §15, 21         Referred to in § 28E.17, 364.4, 384.24, 384.24A, 384.71, 386.11,      389.4, 390.5