357C.10 Bonds in anticipation of revenue.
158 words·~1 min read·
/ia/chapter-357c-street-lighting-districts/357c-10·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Benefited street lighting districts may anticipate the collection of taxes by the levy herein provided, and to carry out the purposes of this chapter may issue bonds payable in not more than ten equal installments, with the rate of interest thereon not exceeding that permitted by chapter 74A. No indebtedness shall be incurred under this chapter until authorized by an election. Such election shall be held and notice given in the same manner as the election provided herein for the authorization of a tax levy, and the same sixty percent vote shall be necessary to authorize indebtedness. Subject to section 39.2, subsection 4, both propositions may be submitted to the voters in the same election.
[C71, 73, 75, 77, 79, 81, §357C.10]
2023 Acts, ch 71, §125, 136
2023 amendment applies July 1, 2023, for elections on propositions relating to the issuing of bonds or other indebtedness occurring on or after that date; 2023 Acts, ch 71, §136