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703.06 Unpaid Warrants

Code No. 703.6

UNPAID WARRANTS

 

The Board may authorize issuance of stamped warrants when there are insufficient funds to pay legal obligations.  The Board Secretary shall show the number and amount, the date interest commences, the rate of interest, the name and address of the holder and shall keep a record of any assignment of the warrants.  When sufficient funds are available, the Secretary shall present the warrants for payment.

The Board may sell anticipatory warrants or participate in a group sale of anticipatory warrants in accordance with the laws of Iowa to generate sufficient cash flow.

 

Date of Review:  April 9, 2018

 

Date of Revision:

June 16, 2003                           

543394

 

Legal References:

 

Chapters 74 and 74A, 291.6, 291.8, 291.12, Code of Iowa                                                                        

 

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS