| SB 0461 | Revises school district debt limit and allowed investments |
| Sponsor: | House | |||
| LR Number: | S1924.02P | Fiscal Note: | 1924-02 | |
| Committee: | Education | |||
| Last Action: | 04/15/99 - Voted Do Pass w/HCA 1 H Education-Elementary & | Journal page: | ||
| Secondary Committee | ||||
| Title: | ||||
| Effective Date: | August 28, 1999 | |||
SB 461 - This act raises the statutory limit on school
bonded indebtedness to 15% of the district's assessed valuation,
as established by constitutional amendment in April 1998. Also,
the requirement that urban school districts shall sell bonds at
no less than 95% of par value is removed. The act makes
technical changes to wording which determines allowed investments
for school districts.
OTTO FAJEN