Submission to the electorate of proposed bond issues is a method widely used in the United States at the local school district level to raise large sums of capital. While containing varied suggestions and recommendations of methods and processes for districts to use in attaining their proposals, the literature for the most part encourages lay group participation, in order to involve as many people as possible in the activity. This paper presents a study of role perceptions by 195 Iowa superintendents of the various groups and individuals (superintendent, superintendent-board, board, lay committee, and consultants) involved in bond elections. The results do not support the contention that involvement of large numbers of individuals increases the probability of bond passage. As perceived by the superintendents, a cooperative effort between the superintendent and the board of education was the most effective method of ensuring school bond passage. (DK)