§ 137.00 Debt statement of school districts outside cities. The debt
statement of a school district, other than a school district in a city,
shall contain the following items of indebtedness for the purpose of
showing the indebtedness of such school district:

1. The amount of

(a) Outstanding bonds;

(b) Outstanding bond anticipation notes, other than those issued in
anticipation of the bonds of the issue in connection with which the debt
statement is prepared;

(c) Bonds of the proposed issue in connection with which the debt
statement is prepared; and

(d) Bond anticipation notes proposed to be issued where a debt
statement is prepared in connection with the issuance of such notes.

2. The amount of indebtedness of a merged or annexed school district
determined pursuant to section 121.10 of this chapter.

For the purpose of showing the indebtedness of a school district,
other than a school district in a city, there may be deducted the amount
of any such indebtedness which has been contracted or is proposed to be
contracted to the extent provided in section 121.20 of this chapter, and
in such case a certified copy of the estimate of the commissioner of
education shall be attached to and form a part of the debt statement
filed with the state comptroller and the clerk of the school district.

For the purpose of showing the indebtedness of a school district other
than a school district in a city there may be deducted the amount of
indebtedness contracted, or indebtedness proposed to be contracted, for
the purpose and to the extent provided in section 121.30 of this
chapter.

In connection with the sale of bond anticipation notes, a school
district may prepare a debt statement and may file such statement in the
manner provided in section 109.00 of this chapter.