279.48 Equipment purchase.
1. The board of directors of a school corporation may purchase equipment, and may negotiate and enter into a loan agreement and issue a note to pay for the equipment subject to the following terms and procedures:
a. The note must mature within five years, or the useful life of the equipment, whichever is less.
b. The note may bear interest at a rate to be determined by the board of directors in the manner provided in section 74A.3, subsection 1, paragraph “a”. Chapter 75 is not applicable.
c. The board of directors shall provide for the form of the agreement and note.
d. Principal and interest on the note must be payable from budgeted receipts in the debt service fund for each year of a period of up to five years.
2. The total of scheduled annual payments of principal or interest due and payable from current budgeted receipts or future budgeted receipts with respect to all loan agreements authorized under this section or section 285.10, subsection 7, paragraph “b”, must not exceed ten percent of the last authorized budget of the school corporation.
94 Acts, ch 1175, §7; 2008 Acts, ch 1032, §198; 2021 Acts, ch 25, §7
Referred to in §273.3, 279.53
Subsection 3 stricken
Structure Iowa Code
Title VII - EDUCATION AND CULTURAL AFFAIRS
Chapter 279 - DIRECTORS — POWERS AND DUTIES
Section 279.1 - Organization — student improvement oversight.
Section 279.2 - Special meetings.
Section 279.3 - Appointment of secretary and treasurer.
Section 279.5 - Temporary officers.
Section 279.6 - Vacancies — qualification — tenure.
Section 279.7 - Vacancies filled by special election — qualification — tenure.
Section 279.7A - Interest in public contracts prohibited — exceptions.
Section 279.8 - General rules — bonds of employees.
Section 279.8A - Traffic and parking.
Section 279.8B - Petition — school board meeting agenda — public comment.
Section 279.9 - Use of tobacco, alcoholic beverages, or controlled substances.
Section 279.9A - Student transfers — information sharing.
Section 279.9B - Reports to juvenile authorities.
Section 279.10 - School year — beginning date — exemption.
Section 279.11 - Number of schools — attendance — terms — classroom assignment.
Section 279.12 - Contracts — teachers — insurance — educational leave.
Section 279.14 - Evaluation criteria and procedures.
Section 279.14A - Practitioner performance improvement program.
Section 279.15 - Notice of termination — request for hearing.
Section 279.16 - Private hearing — decision — record.
Section 279.17 - Appeal by teacher to adjudicator.
Section 279.18 - Appeal by teacher to court.
Section 279.19 - Probationary period.
Section 279.19A - Extracurricular contracts.
Section 279.19B - Coaching endorsement and authorization.
Section 279.20 - Superintendent — term — employment of support personnel.
Section 279.22 - Residence of employees.
Section 279.23 - Continuing contract for administrators.
Section 279.23A - Evaluation criteria and procedures.
Section 279.24 - Contract with administrators — automatic continuation or termination.
Section 279.25 - Discharge of administrator.
Section 279.26 - Lease arrangements.
Section 279.27 - Discharge of teacher.
Section 279.28 - Insurance — supplies — textbooks.
Section 279.29 - Claims — investments.
Section 279.30 - Payments — exceptions.
Section 279.31 - Settlement with treasurer.
Section 279.32 - Compensation of officers.
Section 279.33 - Annual settlements.
Section 279.34 - Motor vehicles required to operate on ethanol blended gasoline.
Section 279.35 - Publication of proceedings.
Section 279.36 - Publication procedures and fee.
Section 279.37 - Employment of counsel.
Section 279.38 - Membership in association of school boards — audit.
Section 279.38A - Membership in other organizations— reporting requirements.
Section 279.39 - School buildings.
Section 279.41 - Schoolhouses and sites sold — funds.
Section 279.42 - Gifts to schools.
Section 279.43 - Reporting inappropriate teaching assignments.
Section 279.44 - Energy audits.
Section 279.45 - Administrative expenditures.
Section 279.46 - Retirement incentives — tax.
Section 279.47 - Telecommunications — participation by school districts in database development.
Section 279.48 - Equipment purchase.
Section 279.49 - Child care programs.
Section 279.50 - Human growth and development instruction.
Section 279.50A - Educational standards — agreements for mathematics and science units.
Section 279.51 - Programs for at-risk children.
Section 279.51A - Classroom environment — behavioral challenges — reports of violence or assault.
Section 279.52 - Optional funding of asbestos projects.
Section 279.53 - Loan proceeds.
Section 279.54 - School district income surtax.
Section 279.55 - Teacher exchange program.
Section 279.56 - Board participation.
Section 279.57 - Period of exchange.
Section 279.58 - School dress code policies.
Section 279.59 - Access by associations.
Section 279.60 - Assessments — access to data — reports.
Section 279.61 - Individual career and academic plan — report.
Section 279.62 - Nonprofit school organizations.
Section 279.63 - Financial report.
Section 279.64 - Tax-sharing agreements.
Section 279.66 - Discipline and personal conduct standards.
Section 279.67 - Competitive living wage.
Section 279.68 - Student progression — intensive reading instruction — reporting requirements.
Section 279.69 - School employees — background investigations.
Section 279.71 - Student online personal information protection.
Section 279.72 - Training on dyslexia.
Section 279.73 - Intellectual freedom — protection — complaints.
Section 279.74 - Training and curriculum prohibited — specific defined concepts.