A school district confronted with actual or anticipated large increases in enrollment because of the construction of a new industrial plant or plants to a degree that new buildings or additions to existing buildings are required shall make the following efforts to raise funds to meet those building needs:

1. (1) bond to its maximum capacity and maintain maximum bonding by rebonding at least once every other year until building needs are met;
2. (2) maintain an annual property tax levy for capital outlay and debt service combined of not less than .0036 per dollar of taxable value; and
3. (3) initiate any action necessary to qualify for any state, federal, or other funds for capital outlay for which the district may be eligible.

Renumbered and Amended by Chapter 3, 2018 General Session