Iowa § 394.1 Authority to issue bonds — taxes

Iowa Statutes

§ 394.1 — Authority to issue bonds — taxes

Iowa § 394.1

Title IXLOCAL GOVERNMENT

Ch. 394ZOOLOGICAL GARDENS

This text of Iowa § 394.1 (Authority to issue bonds — taxes) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 394.1 (2026).

Text

1.Cities are hereby authorized to contract indebtedness and to issue general obligation bonds to provide funds to pay the cost of opening, establishing, constructing, improving, extending,orremodelingofazooorzoologicalgardenandtoconstruct,reconstruct,orrepair any such improvement and to pay the cost of land needed for any of said purposes.

2.Taxes for the payment of said bonds shall be levied in accordance with chapter 76, and said bonds shall be payable through the debt service fund in not more than twenty years, and bear interest at a rate not exceeding that permitted by chapter 74A, and shall be of such form as the city council shall by resolution provide, but no city shall become indebted in excess of five percent of the actual value of the taxable property within said city, as shown

Free access — add to your briefcase to read the full text and ask questions with AI

1. Cities are hereby authorized to contract indebtedness and to issue general obligation
bonds to provide funds to pay the cost of opening, establishing, constructing, improving,
extending,orremodelingofazooorzoologicalgardenandtoconstruct,reconstruct,orrepair
any such improvement and to pay the cost of land needed for any of said purposes.
2. Taxes for the payment of said bonds shall be levied in accordance with chapter 76, and
said bonds shall be payable through the debt service fund in not more than twenty years,
and bear interest at a rate not exceeding that permitted by chapter 74A, and shall be of such
form as the city council shall by resolution provide, but no city shall become indebted in
excess of five percent of the actual value of the taxable property within said city, as shown
by the last preceding state and county tax lists. The indebtedness incurred for the purpose
provided in this section shall not be considered an indebtedness incurred for general or
ordinary purposes.
3. This section shall be construed as granting additional power without limiting the power
already existing in cities.
4. The provisions of this section shall be applicable to all municipal corporations
regardless of form of government or manner of incorporation.