LRB-4649/1
PG:lmk:rs
2005 - 2006 LEGISLATURE
April 11, 2006 - Introduced by Representatives Fields, Young, Sinicki, Jeskewitz,
Berceau, Kessler
and Grigsby, cosponsored by Senators Plale, Darling,
Kanavas
and Taylor. Referred to Committee on Education.
AB1175,1,6 1An Act to renumber 66.1333 (5r) (b) (intro.), 66.1333 (5r) (b) 1. and 66.1333 (5r)
2(b) 2.; to renumber and amend 119.46; to amend 65.07 (1) (e), 66.1333 (5r)
3(c), 66.1333 (5r) (d) 4. a., 119.48 (1) and 119.60 (1); and to create 66.1333 (5r)
4(b) 2m. and 119.46 (2) of the statutes; relating to: use of the proceeds from the
5sale of real property located in the city of Milwaukee and used for school
6purposes.
Analysis by the Legislative Reference Bureau
Under current law, whenever real property that is located in the city of
Milwaukee and used for school purposes is sold, the proceeds of the sale are deposited
in the school construction fund, to be applied to the purchase of real property for
school purposes.
Under this bill, the Board of the Milwaukee Public Schools may, in its
discretion, deposit the proceeds of the sale in the school operations fund, to be applied
to the payment of principal on bonds issued by the city's redevelopment authority for
the purpose of financing certain school facilities.

For further information see the state and local fiscal estimate, which will be
printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB1175, s. 1 1Section 1. 65.07 (1) (e) of the statutes is amended to read:
AB1175,2,32 65.07 (1) (e) A school operations fund, as constituted and for the purposes
3specified in s. 119.46 (1).
AB1175, s. 2 4Section 2. 66.1333 (5r) (b) (intro.) of the statutes is renumbered 66.1333 (5r)
5(b) 1. (intro.).
AB1175, s. 3 6Section 3. 66.1333 (5r) (b) 1. of the statutes is renumbered 66.1333 (5r) (b) 1.
7a.
AB1175, s. 4 8Section 4. 66.1333 (5r) (b) 2. of the statutes is renumbered 66.1333 (5r) (b) 2.
9b.
AB1175, s. 5 10Section 5. 66.1333 (5r) (b) 2m. of the statutes is created to read:
AB1175,2,1511 66.1333 (5r) (b) 2m. The authority of a 1st class city may issue refunding bonds
12to fund, refund, or advance refund any bonds previously issued by the authority
13under subd. 1., to fund a debt service reserve fund for such refunding bonds, to pay
14capitalized interest with respect to such refunding bonds, and to pay the costs
15incurred in connection with the issuance of such refunding bonds.
AB1175, s. 6 16Section 6. 66.1333 (5r) (c) of the statutes is amended to read:
AB1175,2,2117 66.1333 (5r) (c) Terms and conditions. The terms and conditions of bonds
18issued under this subsection shall be those specified in sub. (5) (a) 4. except that it
19shall not be necessary that the financed property be located in a project area or a
20blighted area. The bonds may not have a maturity in excess of 20 years and, other
21than refunding bonds,
may not be issued later than October 1, 2004.
AB1175, s. 7
1Section 7. 66.1333 (5r) (d) 4. a. of the statutes is amended to read:
AB1175,3,42 66.1333 (5r) (d) 4. a. The bonds to be refunded by the refunding bonds are to
3be issued to fund, refund or advance refund bonds
secured by a special debt service
4reserve fund.
AB1175, s. 8 5Section 8. 119.46 of the statutes is renumbered 119.46 (1) and amended to
6read:
AB1175,3,197 119.46 (1) As part of the budget transmitted annually to the common council
8under s. 119.16 (8) (b), the board shall report the amount of money required for the
9ensuing school year to operate all public schools in the city under this chapter, to
10repair and keep in order school buildings and equipment, to make material
11improvements to school property and to purchase necessary additions to school sites.
12The common council shall levy and collect a tax upon all the property subject to
13taxation in the city, which shall be equal to the amount of money required by the
14board for the purposes set forth in this section subsection, at the same time and in
15the same manner as other taxes are levied and collected. Such taxes shall be in
16addition to all other taxes which the city is authorized to levy. The taxes so levied
17and collected, together with the any other funds provided by law and placed at the
18disposal of the city for the same purposes, and the moneys deposited in the school
19operations fund under s. 119.60 (1),
shall constitute the school operations fund.
AB1175, s. 9 20Section 9. 119.46 (2) of the statutes is created to read:
AB1175,4,421 119.46 (2) If moneys specified in s. 119.60 (1) are deposited in the school
22operations fund, the moneys shall be used to pay the principal due on any bonds
23issued under s. 66.1333 (5r) (b), to make sinking fund payments with respect to such
24bonds, to purchase or redeem such bonds, to pay any redemption premium required
25to be paid when such bonds are redeemed prior to maturity, or to establish a

1defeasance escrow account for such bonds in an amount sufficient to provide for the
2payment of principal, any redemption premium and interest on such bonds when
3due, whether at maturity or upon prior redemption, and to pay any fees or expenses
4associated with the establishment of the defeasance escrow account.
AB1175, s. 10 5Section 10. 119.48 (1) of the statutes is amended to read:
AB1175,4,216 119.48 (1) If the board adopts a resolution by a two-thirds vote of the
7members-elect to provide funds, in addition to receipts from the sale of bonds, to
8purchase school sites, to construct school buildings and additions thereto or to
9remodel existing buildings, the board may include, as part of the budget transmitted
10to the common council under s. 119.16 (8) (b), a communication stating the amount
11of funds needed for such purposes. Upon receipt of the communication, the common
12council shall levy and collect a tax upon all property subject to taxation in the city,
13which shall be equal to the amount of money required by the board for the purposes
14set forth in the communication, at the same time and in the same manner as other
15taxes are levied and collected. Such taxes shall be in addition to all other taxes which
16the city is authorized to levy. The taxes so levied and collected and the moneys under
17s. 119.60 (1) that are deposited in the school construction fund
shall constitute the
18school construction fund. If moneys under s. 119.60 (1) are deposited in the school
19construction fund, the moneys shall be used for the purchase of real property for
20school purposes.
The board may allow the school construction fund to accumulate
21from year to year.
AB1175, s. 11 22Section 11. 119.60 (1) of the statutes is amended to read:
AB1175,5,223 119.60 (1) If any real property within the city which is used for school purposes
24is sold, the board shall determine whether the proceeds of the sale shall not go into
25the general city fund but shall become part of
are deposited in the school operations

1fund under s. 119.46 or are deposited in
the school construction fund to be applied
2on the purchase of real property for school purposes
under s. 119.48.
AB1175,5,33 (End)
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