LRB-3666/3
RCT&RAC:kjf:pg
2005 - 2006 LEGISLATURE
April 24, 2006 - Introduced by Representatives Gunderson and Staskunas,
cosponsored by Senator Plale. Referred to Committee on Tourism.
AB1191,1,3
1An Act to amend 20.866 (1) (u) and 42.12 (1); and
to create 20.505 (1) (cs) and
242.11 (4) of the statutes;
relating to: sale of Olympic Ice Training Center and
3making an appropriation.
Analysis by the Legislative Reference Bureau
This bill authorizes the State Fair Park Board (SFPB) and the Department of
Administration (DOA) to sell the Olympic Ice Training Center at State Fair Park and
associated land and parking areas, not to exceed 10.15 acres, to Pettit National Ice
Center, Inc., for not less than $5,264,000, reduced by any amount of principal paid
after June 30, 2006, on the debt incurred to finance the center, on the condition that
the center continue to be used primarily as an ice skating rink and training facility
for recreational and competitive skating purposes. Under the bill, the center may
only be sold if the conveyance provides that: 1) the Pettit National Ice Center, Inc.,
not lease the center without the approval of SFPB; and 2) if the Pettit National Ice
Center, Inc., subsequently elects to sell the center, the state has first option to
purchase the center for $5,264,000.
Under the bill, if SFPB and DOA sell the center, an amount equal to the sum
of interest payments on obligations incurred to finance the construction of the center
that were paid after June 30, 2005, and before the sale of the center and the past-due
lease payments for the center must be credited to SFPB from the proceeds of the sale.
The balance of the proceeds are then credited to a bond security and redemption fund
to repay the principal and interest on the outstanding debt on the center.
For further information see the state 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:
AB1191, s. 1
1Section
1. 20.505 (1) (cs) of the statutes is created to read:
AB1191,2,112
20.505
(1) (cs)
Principal repayment and interest; Olympic Ice Training Center.
3A sum sufficient to reimburse s. 20.866 (1) (u) for the payment of principal and
4interest costs incurred in financing the construction of the Olympic Ice Training
5Center and to make the payments determined by the building commission under s.
613.488 (1) (m) that are attributable to the proceeds of obligations incurred in
7financing this construction. Moneys in this appropriation account may only be used
8to pay these costs and make these payments if the Olympic Ice Training Center is sold
9to the Pettit National Ice Center, Inc., and if the proceeds from the sale that are
10deposited in a bond security and redemption fund under s. 18.09 are not sufficient
11to pay the costs and make the payments.
AB1191,3,314
20.866
(1) (u)
Principal repayment and interest. A sum sufficient from moneys
15appropriated under sub. (2) (zp) and ss. 20.115 (2) (d) and (7) (b), (f), and (s), 20.190
16(1) (c), (d), (i), and (j), 20.225 (1) (c) and (i), 20.245 (1) (e) and (j), 20.250 (1) (c) and (e),
1720.255 (1) (d), 20.285 (1) (d), (db), (im), (in), (je), (jq), (kd), (km), and (ko) and (5) (i),
1820.320 (1) (c) and (t) and (2) (c), 20.370 (7) (aa), (ac), (ag), (aq), (ar), (at), (au), (bq), (ca),
19(cb), (cc), (cd), (ce), (cf), (cg), (ea), (eq), and (er), 20.395 (6) (af), (aq), (ar), and (au),
2020.410 (1) (e), (ec), and (ko) and (3) (e), 20.435 (2) (ee) and (6) (e), 20.465 (1) (d), 20.485
21(1) (f) and (go), (3) (t) and (4) (qm), 20.505
(1) (cs), (4) (es), (et), (ha), and (hb)
, and (5)
1(c), (g) and (kc), 20.855 (8) (a) and 20.867 (1) (a) and (b) and (3) (a), (b), (bm), (bp), (bq),
2(br), (bt), (g), (h), (i), and (q) for the payment of principal and interest on public debt
3contracted under subchs. I and IV of ch. 18.
AB1191, s. 3
4Section
3. 42.11 (4) of the statutes is created to read:
AB1191,3,65
42.11
(4) Subsections (1) and (3) do not apply if the Olympic Ice Training Center
6is sold under 2005 Wisconsin Act .... (this act).
AB1191, s. 4
7Section
4. 42.12 (1) of the statutes is amended to read:
AB1191,3,118
42.12
(1) Beginning on July 1, 1992, in each fiscal year, the state fair park board
9may award a grant to the city of West Allis to be used to provide crowd and traffic
10control services related to events held at the state fair park
, including events
11associated with the Olympic Ice Training Center under s. 42.11.
AB1191,3,1313
(1)
Sale of Olympic Ice Training Center.
AB1191,3,2214
(a) The state fair park board and the department of administration may sell
15the Olympic Ice Training Center at state fair park and associated land and parking
16areas, not to exceed 10.15 acres, to Pettit National Ice Center, Inc., for not less than
17$5,264,000, reduced by any amount of principal paid after June 30, 2006, on
18obligations issued to finance construction of the center, on the condition that as long
19as the center is owned by Pettit National Ice Center, Inc., the center will continue to
20be used primarily as an ice skating rink and training facility for recreational and
21competitive skating purposes. The board and the department may only sell the
22center if the conveyance also provides all of the following:
AB1191,3,24
231. The Pettit National Ice Center, Inc., may not lease any portion of the center
24and associated land and parking areas without the approval of the board.
AB1191,4,4
12. If the Pettit National Ice Center, Inc., elects to sell the center or associated
2land or parking areas, the Pettit National Ice Center, Inc., shall notify the board and
3the department, and the state shall have first option to purchase the center and
4associated land and parking areas for $5,264,000.
AB1191,4,125
(b) If the board and the department sell the center, an amount equal to the sum
6of interest payments on obligations incurred to finance the construction of the center
7that were paid after June 30, 2005, and before the sale of the center and the past-due
8lease payments for the center, as determined by the department, shall be credited to
9the appropriation account under section 20.190 (1) (h) of the statutes from the
10proceeds of the sale. The balance of the proceeds shall be credited to a bond security
11and redemption fund under section 18.09 of the statutes to repay the principal and
12interest on the outstanding debt on the center.
AB1191,4,1413
(c) Sections 13.48 (14) and 16.848 of the statutes do not apply to the sale under
14this subsection.
AB1191,4,1515
(d) This subsection does not apply after June 30, 2007.
