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 the schoolhouse fund.
Legal Reference: Iowa Code 74-76; 278.1; 291.13; 298 (2003).
Cross Reference: 701 Financial Accounting System 704 Revenue
Approved Dec. 13, 2004
Reviewed October 9, 2023
Revised