1606 Brady St.
Davenport, IA
563-336-5000

Administrative Regulation 302.10A

BUS. & NON-INSTR. OPER.

Sale of Bonds

Funds may be generated by the sale of bonds only after authorization by the electorate as provided by the Code of Iowa.  Any bonds so authorized will be sold by receipt of sealed bids.

The principal amount of funds received from the sale of bonds will be deposited in the Capital Projects Account for expenditure as authorized.  Any accrued interest and/or premium paid by the bond purchaser will be deposited in the Debt Service Fund for the purpose of paying principal and/or interest of the bonds issued.

Payment of Bonds

Bonds are paid when due, on demand by the bearer, by the Treasurer of The School District, or they may be presented through a local bank as designated.

Bonds are cancelled by perforation immediately following receipt and payment.

All cancellations are recorded on the Bond Register maintained by the Finance Office as soon as practical following receipt and payment.

The above duties may also be performed by a designee agent of the district.

Interest on Bonds

Interest coupons are paid when due, on demand by the bearer, by the Treasurer of the School District, or they may be presented through a local bank as designated.

Coupons are cancelled by perforation immediately following receipt and payment.

All cancellations are recorded on the Bond Register maintained by the Finance Office as soon as practical following receipt and payment.

The above duties may also be performed by a designee agent of the district.

  • Adopted 6/82
  • Legal Reference — Code of Iowa Chapters 75.1-75.9, 76.1-76.9, 291.13, 298.9, 298.18-24
  • Updated 4/91, 8/93, 12/03
  • Reviewed 5/96, 7/99, 12/03