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 the approval of the voters in the school district community.
Revenues received from the issuing of bonded indebtedness shall be deposited into Secure an Advanced Vision for Education or Physical Plan and Equipment Levy Fund(SAVE/PPEL).
Legal Reference: Iowa Code §§ 74-76; 278.1; 291.13; 298 (1995).
Cross Reference: 701 Financial Accounting System
Approved: 6/9/97 Reviewed: 11/06 Revised: 11/00