704.2 SALE OF BONDS

The board may conduct an election for the authority to issue bonded indebtedness. Revenues generated from an approved bond issue shall be used only for the purpose stated on the ballot. Use of excess funds in the account for another purpose requires approval of the voters in the school district community.

Revenues received from the issuing of bonded indebtedness shall be deposited in to the physical plant and equipment levy (PPEL) fund.

 

 

Legal Reference:     Iowa Code §§ 74-76; 278.1; 298; 298A (1999).

Cross Reference:     701 Financial Accounting System

                                704    Revenue

Approved: 1/10/1972    Reviewed:3/21/2018    Revised:4/09/2001