Amendment SA66-AB150

LRBb1421/1

KSH:bf:km

1995 - 1996 LEGISLATURE

SENATE AMENDMENT 66, To 1995 ASSEMBLY BILL 150

June 27, 1995 - Offered by Senator Chvala.

AB150-SA66,1,1 At the locations indicated, amend the engrossed bill as follows:

AB150-SA66,1,2 1. Page 157, line 11: after that line insert:

AB150-SA66,1,3 " Section 439m. 18.86 of the statutes is created to read:

AB150-SA66,1,7 18.86 Marketing requirements. With respect to any issuance of bonds that are designated by the commission as higher education bonds under s. 18.82 and that are issued pursuant to bonding authority granted in 1995 Wisconsin Act .... (this act), the commission shall do all of the following:

AB150-SA66,1,9 (1) Issue the bonds in $1,000 denominations with maturities of at least 5 years and no more than 20 years.

AB150-SA66,1,12 (2) During the first 4 days of the bond issue, limit the purchase of bonds by any one person to a total of $5,000. If any bonds remain unsold after this initial 4-day period, the commission may permit a person to purchase a total of up to $20,000.

AB150-SA66,1,14 (3) Market the bonds in a manner that is designed to result in 25% of the bonds being sold in areas designated by the commission as rural areas.".

AB150-SA66,1,15 2. Page 519, line 20: after that line insert:

AB150-SA66,1,16 " Section 1165s. 20.866 (2) (yz) of the statutes is amended to read:

AB150-SA66,2,5 20.866 (2) (yz) Building commission; discount sale of debt. From the capital improvement fund, a sum sufficient to pay the difference between the amount of public debt contracted under subch. IV of ch. 18 and any lesser amount, not including accrued interest, received upon the sale of that public debt. The state may contract public debt in an amount not to exceed $100,000,000 $200,000,000 for this purpose.".

AB150-SA66,2,6 (End)