HF 88: Relating to city finances by amending provisions relating to the issuance of general obligation bonds

What it does

the explanation’s substance by the members of the general assembly. This bill relates to city finances by amending provisions relating to the issuance of general obligation bonds. If a city proposes to carry out a general corporate purpose using funds from the issuance of general obligation bonds, generally the issuance of such bonds must first be approved at election. Current law establishes an exception by providing that a city, in lieu of calling an election, may institute proceedings for the issuance of bonds for a general municipal purpose by notice and publication of the proposal to issue the bonds that includes a notice of the right to petition for an election, subject to the following bond amount and city population limitations: (1) in cities having a population of 5,000 or less, in an amount of not more than $400,000; (2) in cities having a population of over 5,000 and not over 75,000, in an amount of not more than $700,000; and (3) in cities having a population of over 75,000, in an amount of not more than $1 million.

Lobbying · 1 for, 0 against

For: City of West Des Moines

In plain words

1. January 23, 2023Filed in the House and sent to the Local Government committee