Bill Text: IA HF2216 | 2017-2018 | 87th General Assembly | Introduced

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Bill Title: A bill for an act relating to the issuance of general obligation bonds for certain general county purposes. (See HF 2433.)

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2018-02-15 - Subcommittee recommends amendment and passage. [HF2216 Detail]

Download: Iowa-2017-HF2216-Introduced.html

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House File 2216 - Introduced




                                 HOUSE FILE       
                                 BY  NIELSEN

                                      A BILL FOR

  1 An Act relating to the issuance of general obligation bonds for
  2    certain general county purposes.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
    TLSB 5910YH (2) 87
    md/jh

PAG LIN



  1  1    Section 1.  Section 331.442, subsection 5, paragraph a,
  1  2 subparagraphs (1), (2), and (3), Code 2018, are amended to read
  1  3 as follows:
  1  4    (1)  In counties having a population of twenty thousand or
  1  5 less, in an amount of not more than one four hundred thousand
  1  6 dollars.
  1  7    (2)  In counties having a population of over twenty thousand
  1  8 and not over fifty thousand, in an amount of not more than two
  1  9  seven hundred thousand dollars.
  1 10    (3)  In counties having a population of over fifty thousand,
  1 11 in an amount of not more than three hundred thousand one
  1 12 million dollars.
  1 13                           EXPLANATION
  1 14 The inclusion of this explanation does not constitute agreement with
  1 15 the explanation's substance by the members of the general assembly.
  1 16    If a county proposes to carry out a general county purpose
  1 17 using funds from the issuance of general obligation bonds,
  1 18 generally the issuance of such bonds must first be approved by
  1 19 the registered voters of the county.  Current law establishes
  1 20 an exception by providing that a county, in lieu of calling an
  1 21 election, may institute proceedings for the issuance of bonds
  1 22 for a general county purpose by notice and publication of the
  1 23 proposal to issue the bonds that includes a notice of the right
  1 24 to petition for an election, subject to the following bond
  1 25 amount and city population limitations: (1) in counties having
  1 26 a population of 20,000 or less, in an amount of not more than
  1 27 $100,000; (2) in counties having a population of over 20,000
  1 28 and not over 50,000, in an amount of not more than $200,000;
  1 29 and (3) in counties having a population of over 50,000, in an
  1 30 amount of not more than $300,000.  However, if at any time
  1 31 before the date fixed for taking action for the issuance of the
  1 32 bonds, a valid petition is filed with the county auditor asking
  1 33 that the question of issuing the bonds be submitted to the
  1 34 registered voters of the county, the board of supervisors shall
  1 35 either by resolution declare the proposal to issue the bonds
  2  1 to have been abandoned or shall direct the county commissioner
  2  2 of elections to call a special election upon the question of
  2  3 issuing the bonds.
  2  4    This bill increases the bond amount limitations for each of
  2  5 the county population categories to the following amounts: (1)
  2  6 in counties having a population of 20,000 or less, in an amount
  2  7 of not more than $400,000; (2) in counties having a population
  2  8 of over 20,000 and not over 50,000, in an amount of not more
  2  9 than $700,000; and (3) in counties having a population of over
  2 10 50,000, in an amount of not more than $1 million.
       LSB 5910YH (2) 87
       md/jh