76.2 MANDATORY LEVY -- OBLIGATIONS IN ANTICIPATION OF
LEVY.
1. a. The governing authority of these political subdivisions
before issuing bonds shall, by resolution, provide for the assessment
of an annual levy upon all the taxable property in the political
subdivision sufficient to pay the interest and principal of the bonds
within a period named not exceeding the applicable period of time
specified in section 76.1. A certified copy of this resolution shall
be filed with the county auditor or the auditors of the counties in
which the political subdivision is located; and the filing shall make
it a duty of the auditors to enter annually this levy for collection
from the taxable property within the boundaries of the political
subdivision until funds are realized to pay the bonds in full. The
levy shall continue to be made against property that is severed from
the political subdivision after the filing of the resolution until
funds are realized to pay the bonds in full.
b. If the resolution is filed prior to April 1 or May 1, if
the political subdivision is a school district, the annual levy shall
begin with the tax levy for collection commencing July 1 of that
year. If the resolution is filed after April 1 or May 1, in the case
of a school district, the annual levy shall begin with the tax levy
for collection in the next succeeding fiscal year. However, the
governing authority of a political subdivision may adjust a levy of
taxes made under this section for the purpose of adjusting the annual
levies and collections for property severed from the political
subdivision, subject to the approval of the director of the
department of management.
2. If funds, including reserves and amounts available for
temporary transfer, are found to be insufficient to pay in full any
installment of principal or interest, a public issuer of bonds may
anticipate the next levy of taxes pursuant to this section in the
manner provided in chapter 74, whether the taxes so anticipated are
to be collected in the same or a future fiscal year.
76.2 MANDATORY LEVY -- OBLIGATIONS IN ANTICIPATION OF
LEVY.
1. a. The governing authority of these political subdivisions
before issuing bonds shall, by resolution, provide for the assessment
of an annual levy upon all the taxable property in the political
subdivision sufficient to pay the interest and principal of the bonds
within a period named not exceeding the applicable period of time
specified in section 76.1. A certified copy of this resolution shall
be filed with the county auditor or the auditors of the counties in
which the political subdivision is located; and the filing shall make
it a duty of the auditors to enter annually this levy for collection
from the taxable property within the boundaries of the political
subdivision until funds are realized to pay the bonds in full. The
levy shall continue to be made against property that is severed from
the political subdivision after the filing of the resolution until
funds are realized to pay the bonds in full.
b. If the resolution is filed prior to April 1 or May 1, if
the political subdivision is a school district, the annual levy shall
begin with the tax levy for collection commencing July 1 of that
year. If the resolution is filed after April 1 or May 1, in the case
of a school district, the annual levy shall begin with the tax levy
for collection in the next succeeding fiscal year. However, the
governing authority of a political subdivision may adjust a levy of
taxes made under this section for the purpose of adjusting the annual
levies and collections for property severed from the political
subdivision, subject to the approval of the director of the
department of management.
2. If funds, including reserves and amounts available for
temporary transfer, are found to be insufficient to pay in full any
installment of principal or interest, a public issuer of bonds may
anticipate the next levy of taxes pursuant to this section in the
manner provided in chapter 74, whether the taxes so anticipated are
to be collected in the same or a future fiscal year.
76.2 MANDATORY LEVY -- OBLIGATIONS IN ANTICIPATION OF
LEVY.
1. a. The governing authority of these political subdivisions
before issuing bonds shall, by resolution, provide for the assessment
of an annual levy upon all the taxable property in the political
subdivision sufficient to pay the interest and principal of the bonds
within a period named not exceeding the applicable period of time
specified in section 76.1. A certified copy of this resolution shall
be filed with the county auditor or the auditors of the counties in
which the political subdivision is located; and the filing shall make
it a duty of the auditors to enter annually this levy for collection
from the taxable property within the boundaries of the political
subdivision until funds are realized to pay the bonds in full. The
levy shall continue to be made against property that is severed from
the political subdivision after the filing of the resolution until
funds are realized to pay the bonds in full.
b. If the resolution is filed prior to April 1 or May 1, if
the political subdivision is a school district, the annual levy shall
begin with the tax levy for collection commencing July 1 of that
year. If the resolution is filed after April 1 or May 1, in the case
of a school district, the annual levy shall begin with the tax levy
for collection in the next succeeding fiscal year. However, the
governing authority of a political subdivision may adjust a levy of
taxes made under this section for the purpose of adjusting the annual
levies and collections for property severed from the political
subdivision, subject to the approval of the director of the
department of management.
2. If funds, including reserves and amounts available for
temporary transfer, are found to be insufficient to pay in full any
installment of principal or interest, a public issuer of bonds may
anticipate the next levy of taxes pursuant to this section in the
manner provided in chapter 74, whether the taxes so anticipated are
to be collected in the same or a future fiscal year.
