Iowa Code

Iowa Code § 76.1 (2026)

Mandatory retirement

✓ current as of July 2026

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1. Issues of bonds of every kind and character by counties, cities, and school corporations shall be consecutively numbered.

2. a. The annual levy shall be sufficient to pay the interest and approximately such portion of the principal of the bonds as will retire them in a period not exceeding twenty years from date of issue, except as provided in paragraph “b”.

b. General obligation bonds issued for any of the following purposes may mature and be retired in a period not exceeding thirty years from date of issue:

(1) Purposes specified in section 331.441, subsection 2, paragraph “b”, subparagraphs (18) and (19).

(2) Purposes specified in section 384.24, subsection 3, paragraphs “w” and “x”.

(3) Purposes specified in section 384.24, subsection 3, paragraph “i”, if the bonds are issued in conjunction with a project approved by the flood mitigation board under chapter 418 and if the estimated useful life of the project, independently determined by a licensed professional engineer, is at least two hundred percent of the maturity and retirement period for the bonds.

(4) Bonds issued to refund or refinance bonds issued for the purposes specified in subparagraph (1), (2), or (3).

3. Each issue of bonds shall be scheduled to mature in the same order as numbered. [C27, 31, 35, §1179-b1; C39, §1179.1; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §76.1] 2009 Acts, ch 100, §5, 21; 2019 Acts, ch 150, §1, 2; 2020 Acts, ch 1063, §39 Referred to in §76.2, 76.5 \n

Notes of Decisions

Cited in 3 cases, 1952–1952 · leading case: Yarn v. City of Des Moines, 54 N.W.2d 439 (Iowa 1952).

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Yarn v. City of Des Moines, 54 N.W.2d 439 (Iowa 1952). · cites it 8× “Code section 76.1, I.C.A., in the chapter entitled "Maturity and Payment of Bonds" provides in part: "The annual levy shall be sufficient to pay the interest and approximately such portion of the principal of the bonds as will retire them in a period not exceeding twenty years…”

Neal v. Bd. of Supervisors, Clarke Cnty., 53 N.W.2d 147 (Iowa 1952). · cites it 6× “Section 76.1 provides that “the annual levy shall be sufficient to pay the interest and approximately such portion of the principal of the bonds as will retire them in a period not exceeding twenty years from date of issue.”

Olson v. City of Waterloo, 54 N.W.2d 458 (Iowa 1952). · cites it 4× “Further authority for the construction here made, and authority that this is a bond limitation to be based on the latest equalized actual valuation is found in sections 76.1, 76.2 and 76.3, Code, 1950.”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.