275.31 Taxes and appropriation to effect equalization.
1. If necessary to equalize the division and distribution, the board or boards may provide for the levy of additional taxes, which shall be sufficient to satisfy the mandatory levy required in section 76.2 or other liabilities of the districts, upon the property of a corporation or part of a corporation and for the distribution of the tax revenues so as to effect equalization. When the board or boards are considering the equalization levy, the division and distribution shall not impair the security for outstanding obligations of each affected corporation. Any owner of bonds of an affected corporation may bring suit in equity for adjustment of the division and distribution in compliance with this section. If the property tax levy for the amount estimated and certified to apply on principal and interest on lawful bonded indebtedness for a newly formed community school district is greater than the property tax levy for the amount estimated and certified to apply on principal and interest in the year preceding the reorganization or dissolution for a school district that is a party to the reorganization or dissolution, that had a certified enrollment of less than six hundred for the year prior to the reorganization or dissolution, and that approved the reorganization or dissolution prior to July 1, 1989, the board of the newly formed district shall inform the department of management. The department of management shall pay debt service aid to the newly formed district in an amount that reduces the rate of the property tax levy for lawful bonded indebtedness in the portion of the newly formed district where the new rate is higher, to the rate that was levied in that portion of the district during the year preceding the reorganization or dissolution.
2. For the school year beginning July 1, 1987, and succeeding school years, there is appropriated from the general fund of the state to the department of management an amount sufficient to pay the debt service aid under this section. Debt service aid shall be paid in the manner provided in section 257.16.
3. Not later than May 1 of each year, the department of management shall inform the board of the newly formed school district the amount of debt service aid that the district will receive and the rate of the property tax levy for the amount estimated and certified to apply on principal and interest on lawful bonded indebtedness in the portion of the newly formed district where the new rate would have been higher, and for the remainder of the newly formed district. The department of management shall notify the county auditor of each applicable county of the amount, in dollars and cents per thousand dollars of assessed valuation, of the property tax levy in each portion of each applicable newly formed school district in the county for the amount estimated and certified to apply on principal and interest on lawful bonded indebtedness, and the boundaries of the portions within the newly formed district for which the levies shall be made. The county auditor shall spread the applicable property tax levy for each portion of a school district over all taxable property in that portion of the district.
[S13, §2820-g; SS15, §2794-a; C24, 27, 31, 35, 39, §4139, 4175; C46, 50, §274.21, 276.22; C54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §275.31]
85 Acts, ch 221, §7; 86 Acts, ch 1226, §3; 89 Acts, ch 135, §67; 92 Acts, ch 1163, §62; 2017 Acts, ch 54, §76
Referred to in §256.11, 275.1, 275.12, 275.28
Structure Iowa Code
Title VII - EDUCATION AND CULTURAL AFFAIRS
Chapter 275 - REORGANIZATION OF SCHOOL DISTRICTS
Section 275.1 - Definitions — declaration of policy — surveys.
Section 275.2 - Scope of surveys.
Section 275.4 - Studies, surveys, and plans.
Section 275.5 - Proposals for merger or consolidation.
Section 275.6 - Progressive program.
Section 275.8 - Cooperation of department of education — planning joint districts.
Section 275.9 - Methods of effectuating reorganization plans.
Section 275.11 - Proposals involving two or more districts.
Section 275.12 - Petition — method of election.
Section 275.13 - Affidavit — presumption.
Section 275.14 - Objection — time of filing — notice.
Section 275.15 - Hearing — decision — publication — appeal.
Section 275.16 - Hearing when territory in different area education agencies.
Section 275.17 - Filing a petition.
Section 275.18 - Special election called — time.
Section 275.20 - Separate vote in existing districts.
Section 275.22 - Canvass and return.
Section 275.23 - Frequency of change.
Section 275.23A - Redistricting following federal decennial census.
Section 275.24 - Effective date of change.
Section 275.25 - Election of directors.
Section 275.26 - Payment of expenses.
Section 275.27 - Community school districts — part of area education agency.
Section 275.28 - Plan of division of assets and liabilities.
Section 275.29 - Division of assets and liabilities after reorganization.
Section 275.31 - Taxes and appropriation to effect equalization.
Section 275.32 - School buildings — tax levy.
Section 275.33 - Contracts of new district.
Section 275.35 - Change in number of directors — change in method of elections.
Section 275.36 - Submission of change to electors.
Section 275.37 - Increase in number of directors.
Section 275.37A - Decrease in number of directors.
Section 275.38 - Implementing changed method of election.
Section 275.39 - Excluded territory included in new petition.
Section 275.41 - Alternative method for director elections — temporary appointments.
Section 275.51 - Dissolution commission.
Section 275.53 - Dissolution proposal.
Section 275.55A - Attendance in other district.
Section 275.56 - Increasing enrollment.
Section 275.57 - Changing director district boundaries following dissolution.
Section 275.59 - Early retirement following school reorganization or dissolution.