260C.17 - PREPARATION AND APPROVAL OF BUDGET -- TAX.

        260C.17  PREPARATION AND APPROVAL OF BUDGET -- TAX.
         The board of directors of each merged area shall prepare an annual
      budget designating the proposed expenditures for operation of the
      community college.  The board shall further designate the amounts
      which are to be raised by local taxation and the amounts which are to
      be raised by other sources of revenue for the operation.  The budget
      of each merged area shall be submitted to the state board no later
      than May 1 preceding the next fiscal year for approval.  The state
      board shall review the proposed budget and shall, prior to June 1,
      either grant its approval or return the budget without approval with
      the comments of the state board attached to it.  Any unapproved
      budget shall be resubmitted to the state board for final approval.
      Upon approval of the budget by the state board, the board of
      directors shall certify the amount to the respective county auditors
      and the boards of supervisors annually shall levy a tax of twenty and
      one-fourth cents per thousand dollars of assessed value on taxable
      property in a merged area for the operation of a community college.
      Taxes collected pursuant to the levy shall be paid by the respective
      county treasurers to the treasurer of the merged area as provided in
      section 331.552, subsection 29.
         It is the policy of this state that the property tax for the
      operation of community colleges shall not in any event exceed twenty
      and one-fourth cents per thousand dollars of assessed value, and that
      the present and future costs of such operation in excess of the funds
      raised by such levy shall be the responsibility of the state and
      shall not be paid from property tax.  
         Section History: Early Form
         [C66, 71, 73, 75, 77, 79, 81, § 280A.17] 
         Section History: Recent Form
         84 Acts, ch 1003, § 2; 90 Acts, ch 1253, § 29
         C93, § 260C.17
         Referred to in § 260C.22, 260C.34, 260C.38, 331.512