Board Policy 705 – Bond Election

705.01

BUILDING AND SITES

Procedure in Bond Elections

The following guidelines shall be the policy of the District in bond elections:
1. School boards may issue bonds as described in the Code of Iowa. Bond indebtedness may include building construction, remodeling, furniture, and equipment.

2. If District indebtedness would exceed 1-1/4% of the assessed value of taxable property in the district, a petition is required. This petition must be signed by at      least a number equal to 25% of those voting at the last election of school officials. The petition must:

a. Be filed with the Board President.

b. As that an election be called.

c. State the amount of bonds to be issued.

d. Declare the purpose for which the indebtedness is to be created.

e. State that the project cannot be affected with the limit of 1-1/4% of the valuation of the district. (The Board may call the election without a petition if the bond calls for a sum within the 1-1/4% limit.)

3. After receiving the petition, the Board President must within ten days call a meeting of the Board, who shall in turn set the time, date, and place of the election, which may be held at a regular election. The Board must call this election unless it votes unanimously that the proposition(s) requested in the petition are grossly unrealistic or contrary to the District’s needs. The Board will follow Code of Iowa rules and regulations for setting the date for bond elections.

4. The Board President shall notify the County Commission of Elections of the time of the election.

5. The notice of the election shall be published by the County Commissioner of Elections according to the mandates of Iowa Code.

6. A bond election for school buildings and/or sites must be approved by the necessary number of votes as mandated by Code of Iowa.

• Legal References: Code of Iowa Chapters 49.53, 75.1, 296, 298.20, 298.21,  Administrative Regulation 705.01A, Administrative Regulation 705.01B, Administrative Regulation 705.01C

• By action of the Board 12/13/76; Revised 6/13/83, 8/9/93; Revised 8/14/00; Revised 04/27/09

• Edited 4/09; Reviewed 3/23/15