384.28 - CATEGORIES FOR GENERAL OBLIGATION BONDS.

        384.28  CATEGORIES FOR GENERAL OBLIGATION BONDS.         A city may issue general obligation bonds pursuant to a resolution      adopted at a regular or special meeting by a majority of the total      number of members to which the council is entitled.  Each paragraph      of section 384.24, subsections 3 and 4 describes a separate category.      Separate categories of essential corporate purposes and of general      corporate purposes may be incorporated in a single notice of      intention to institute proceedings for the issuance of bonds, or      separate categories may be incorporated in separate notices, and      after an opportunity has been provided for filing objections, or      after a favorable election has been held, if required, the council      may include in a single resolution and sell as a single issue of      bonds, any number or combination of essential corporate purposes or      general corporate purposes.  If an essential corporate purpose is      combined with a general corporate purpose in a single notice of      intention to institute proceedings to issue bonds, then the entire      issue is subject to the referendum requirement provided in section      384.26.         Definitions of city enterprises, essential corporate purposes, and      general corporate purposes are not mutually exclusive and shall be      liberally construed.  The detailing of examples is not intended to      modify or restrict the meaning of general words used.  If a project      or activity may be reasonably construed to be included in more than      one classification, the council may elect at any time between the      classifications and the procedures respectively applicable to each      classification.  
         Section History: Early Form
         [C75, 77, 79, 81, § 384.28] 
         Section History: Recent Form
         83 Acts, ch 90, § 22         Referred to in § 389.4, 390.5