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74a-7
74A.7 SCHOOL DISTRICT WARRANTS.
1. The treasurer of a school district shall sell anticipatory
warrants authorized by section 74.1, subsection 2 at a rate of
interest to be determined by the board of the school district.
2. The treasurer may offer the warrants for public sale at par,
by publishing notice of the sale for two consecutive weeks in a
newspaper of general circulation in the jurisdiction of the school
district issuing the warrants, giving not less than ten days' notice
of the time and place of the sale. The notice shall include a
statement of the amount of the warrants offered for sale.
3. Sealed bids may be received at any time up to the time all
bids are opened. The treasurer shall sell the warrants to the bidder
offering the lowest interest rate, provided that the treasurer may
reject all bids and readvertise the sale of the warrants pursuant to
the provisions of this section.
4. This section applies only to school districts whose
anticipated receipts allocable to the current budget are at least
equal to their legally approved budget for the current year. Section History: Early Form
[C71, 73, 75, 77, 79, § 74.8; C81, § 74A.7]
Referred to in § 74A.6, 273.3
See construction by 80 Acts, ch 1025, § 77
