The board of directors of any school corporation when authorized by the voters at an election held on a date specified in section 39.2, subsection 4, paragraph “d”, may issue the negotiable, interest-bearing school bonds of the corporation for borrowing money for any or all of the following purposes:
 1. To acquire sites for school purposes.
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Terms Used In Iowa Code 298.21

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
  • School: means an agency of the state or political subdivision of the state, individual, partnership, company, firm, society, trust, association, corporation, or any combination which meets any of the following criteria:
     a. See Iowa Code 261B.2
 2. To erect, complete, or improve buildings authorized for school purposes.
 3. To acquire equipment for schools, sites, and buildings.
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