AB1-engrossed,35,2 23229.685 Special fund tax revenues. (1) The district board shall maintain
24a special fund into which it deposits only the revenue received from the department

1of revenue, that is derived from the taxes imposed under subch. V of ch. 77, and may
2use this revenue only for purposes related to baseball park facilities.
AB1-engrossed,35,14 3(2) If the district board determines that the revenues in the special fund under
4this section exceed current operating expenses for the operation of baseball park
5facilities, the district board shall apply the excess to either fund a fund for
6maintenance costs and capital improvements or to retire bonds issued for the initial
7construction of baseball park facilities, and any bonds issued to fund or refund those
8bonds, prior to their maturity. As soon as practicable after the retirement of all bonds
9issued for the initial construction of baseball park facilities and all bonds issued to
10fund or refund those bonds and after funding a fund for maintenance costs and
11capital improvements sufficiently to meet any maintenance or capital improvement
12obligations between the district and any professional baseball team using baseball
13park facilities constructed under this subchapter as a home stadium, the district
14board shall make a certification to the department of revenue to that effect.
AB1-engrossed,35,17 15229.69 Powers granted to a city or a county in a district. In addition to
16any powers that it may otherwise have, a city or a county within a district's
17jurisdiction may do any of the following:
AB1-engrossed,35,19 18(1) Make grants or loans to a district upon terms that the city or county
19considers appropriate.
AB1-engrossed,35,20 20(2) Expend public funds to subsidize a district.
AB1-engrossed,35,22 21(3) Borrow money under ss. 67.04 and 67.12 (12) for baseball park facilities or
22to fund grants, loans or subsidies to a district.
AB1-engrossed,35,24 23(4) Grant to the state land or other property, especially dedicated by the grant
24to use for a professional baseball park.
AB1-engrossed,35,25 25229.70 Minority contracting goals. (1) In this section:
AB1-engrossed,36,1
1(a) "Minority business" has the meaning given in s. 560.036 (1) (e).
AB1-engrossed,36,22 (b) "Minority group member" has the meaning given in s. 560.036 (1) (f).
AB1-engrossed,36,53 (c) "Women's business" means a sole proprietorship, partnership, joint venture
4or corporation that is at least 51% owned, controlled and actively managed by
5women.
AB1-engrossed,36,11 6(2) The district shall ensure that, for construction work and professional
7services contracts, a person who is awarded such a contract by a district shall agree,
8as a condition to receiving the contract, that his or her goal shall be to ensure that
9at least 25% of the employes hired because of the contract will be minority group
10members and at least 5% of the employes hired because of the contract will be women
11if the contract is for the construction of any part of baseball park facilities.
AB1-engrossed,36,16 12(3) It shall be a goal of the district to ensure that at least 25% of the aggregate
13dollar value of contracts awarded by the district in the following areas shall be
14awarded to minority businesses and at least 5% of the aggregate dollar value of
15contracts awarded by the district in the following areas shall be awarded to women's
16businesses:
AB1-engrossed,36,1717 (a) Contracts for the construction of baseball park facilities.
AB1-engrossed,36,1918 (b) Contracts for professional services related to the construction of baseball
19park facilities.
AB1-engrossed,36,2020 (c) Contracts for the development of baseball park facilities.
AB1-engrossed,36,24 21(4) It shall be a goal of a district, with regard to each of the contracts described
22under sub. (3) (a), (b) and (c), to award at least 25% of the dollar value of such
23contracts to minority businesses and at least 5% of the dollar value of such contracts
24to women's businesses.
AB1-engrossed,37,7
1(5) (a) The district shall hire an independent person to monitor the district's
2compliance with minority contracting goals under subs. (2), (3) and (4) and the
3department of administration's compliance with minority contracting goals under s.
416.854 (2) and (3). The person hired shall have previous experience working with
5minority group members. The district shall develop a mechanism to receive regular
6reports from the person hired with respect to the results of the person's studies of
7compliance with minority contracting goals.
AB1-engrossed,37,118 (b) If the district or a contractor is unable to meet the goals under sub. (2), (3)
9or (4), the person hired under par. (a) shall assess whether the district or contractor
10made a good faith effort to reach the goals. In determining whether a good faith effort
11was made to meet the goals, the person hired shall consider all of the following:
AB1-engrossed,37,1412 1. The supply of eligible minority businesses and women's businesses that have
13the financial capacity, technical capacity and previous experience in the areas in
14which contracts were awarded.
AB1-engrossed,37,1715 2. The competing demands for the services provided by eligible minority
16businesses and women's businesses, as described in subd. 1., in areas in which
17contracts were awarded.
AB1-engrossed,37,2118 3. The extent to which the district or contractors advertised for and
19aggressively solicited bids from eligible minority businesses and women's
20businesses, as described in subd. 1., and the extent to which eligible minority
21businesses and women's businesses submitted bids.
AB1-engrossed,37,25 22(6) The district shall solicit from any major league baseball club to whom the
23district leases baseball park facilities its minority hiring goals in connection with the
24operation of a baseball stadiums and its minority contracting goals in connection
25with vending contractors at a baseball stadium.
AB1-engrossed,38,6
1229.71 Dissolution of a district. Subject to providing for the payment of its
2bonds, including interest on the bonds, and the performance of its other contractual
3obligations, a district may be dissolved by the action of the district board. If the
4district is dissolved, the property of the district shall be transferred to the counties
5in the jurisdiction, based on the tax revenues derived from each county, as
6determined by the secretary of administration.
AB1-engrossed,38,9 7229.72 Issuance and negotiability of bonds. (1m) Negotiability. All
8bonds are negotiable for all purposes, notwithstanding their payment from a limited
9source.
AB1-engrossed,38,12 10(2) Employment of financial consultant. A district may retain the building
11commission or any other person as its financial consultant to assist with and
12coordinate the issuance of bonds.
AB1-engrossed,38,16 13(6) Liability. Neither the members of the district board nor any person
14executing the bonds is liable personally on the bonds or subject to any personal
15liability or accountability by reason of the issuance of the bonds, unless the personal
16liability or accountability is the result of wilful misconduct.
AB1-engrossed,38,22 17229.74 Special debt service reserve funds. (1) Designation of special
18debt service reserve funds.
A district may designate one or more accounts in funds
19created under s. 66.066 (2) (e) as special debt service reserve funds, if, prior to each
20issuance of bonds to be secured by the special debt service reserve fund, the secretary
21of administration determines that all of the following conditions are met with respect
22to the bonds:
AB1-engrossed,38,2423 (a) Purpose. The proceeds of the bonds, other than refunding bonds, will be
24used for baseball park facilities.
AB1-engrossed,39,6
1(b) Feasibility. The proceeds of bonds, other than refunding bonds, will be used
2for feasible projects and there is a reasonable likelihood that the bonds will be repaid
3without the necessity of drawing on funds in the special debt service reserve fund
4that secures the bonds. The secretary of administration may make the
5determinations required under this paragraph only after considering all of the
6following:
AB1-engrossed,39,87 1. Whether a pledge of the tax revenues of the district is made under the bond
8resolution.
AB1-engrossed,39,99 2. How the tax revenues of the district are pledged to the payment of the bonds.
AB1-engrossed,39,1210 3. Revenue projections for the project to be financed by the bonds, including tax
11revenues, and the reasonableness of the assumptions on which these revenue
12projections are based.
AB1-engrossed,39,1413 4. The proposed interest rates of the bonds and the resulting cash-flow
14requirements.
AB1-engrossed,39,1615 5. The projected ratio of annual tax revenues to annual debt service of the
16district, taking into account capitalized interest.
AB1-engrossed,39,1917 6. Whether an understanding exists providing for repayment by the district to
18the state of all amounts appropriated to the special debt service reserve fund
19pursuant to sub. (7).
AB1-engrossed,39,2220 8. Whether the district has agreed that the department of administration will
21have direct and immediate access, at any time and without notice, to all records of
22the district.
AB1-engrossed,40,323 (c) Limit on bonds issued. The amount of all bonds, other than refunding bonds,
24that would be secured by all special debt service reserve funds of the district will not
25exceed $160,000,000. In determining compliance with the limitation under this

1paragraph, the secretary of administration need not include bonds that are secured
2by a special debt service reserve fund to the extent that proceeds of the bonds are for
3the following purposes:
AB1-engrossed,40,44 1. To make a deposit into a special debt service reserve fund.
AB1-engrossed,40,55 2. To pay issuance costs of bonds secured by a special debt service reserve fund.
AB1-engrossed,40,76 3. To pay capitalized interest costs on bonds secured by a special debt service
7reserve fund.
AB1-engrossed,40,88 4. To pay any original issue discount.
AB1-engrossed,40,109 (d) Date of issuance. The bonds, other than refunding bonds, will be issued no
10later than December 31, 2000.
AB1-engrossed,40,1211 (e) Refunding bonds. All refunding bonds to be secured by the special debt
12service reserve fund meet all of the following conditions:
AB1-engrossed,40,1413 1. The refunding bonds are to be issued to fund, refund or advance refund bonds
14secured by a special debt service reserve fund.
AB1-engrossed,40,1615 2. The refunding of bonds by the refunding bonds will not adversely affect the
16risk that the state will be called on to make a payment under sub. (7).
AB1-engrossed,40,2217 (f) Approval of outstanding debt. All outstanding debt of the district has been
18reviewed and approved by the secretary of administration. In determining whether
19to approve outstanding debt under this paragraph, the secretary may consider any
20factor which the secretary determines to have a bearing on whether the state moral
21obligation pledge under sub. (7) should be granted with respect to an issuance of
22bonds.
AB1-engrossed,41,223 (g) Financial reports. The district has agreed to provide to the department of
24administration, the legislative fiscal bureau and the legislative audit bureau all

1financial reports of the district and all regular monthly statements of any trustee of
2the bonds on a direct and ongoing basis.
AB1-engrossed,41,9 3(2) Payment of funds into a special debt service reserve fund. A district shall
4pay into any special debt service reserve fund of the district any moneys appropriated
5and made available by the state for the purposes of the special debt service reserve
6fund, any proceeds of a sale of bonds to the extent provided in the bond resolution
7authorizing the issuance of the bonds and any other moneys that are made available
8to the district for the purpose of the special debt service reserve fund from any other
9source.
AB1-engrossed,41,25 10(3) Use of moneys in the special debt service reserve fund. All moneys held
11in any special debt service reserve fund of a district, except as otherwise specifically
12provided, shall be used, as required, solely for the payment of the principal of bonds
13secured in whole or in part by the special debt service reserve fund, the making of
14sinking fund payments with respect to these bonds, the purchase or redemption of
15these bonds, the payment of interest on these bonds or the payment of any
16redemption premium required to be paid when these bonds are redeemed prior to
17maturity. If moneys in a special debt service reserve fund at any time are less than
18the special debt service reserve fund requirement under sub. (5) for the special debt
19service reserve fund, the district may not use these moneys for any optional purchase
20or optional redemption of the bonds. Any income or interest earned by, or increment
21to, any special debt service reserve fund due to the investment of moneys in the
22special debt service reserve fund may be transferred by the district to other funds or
23accounts of the district to the extent that the transfer does not reduce the amount of
24the special debt service reserve fund below the special debt service reserve fund
25requirement under sub. (5) for the special debt service reserve fund.
AB1-engrossed,42,8
1(4) Limitation on bonds secured by a special debt service reserve fund. A
2district shall accumulate in each special debt service reserve fund an amount equal
3to the special debt service reserve fund requirement under sub. (5) for the special
4debt service reserve fund. A district may not at any time issue bonds secured in whole
5or in part by a special debt service reserve fund if upon the issuance of these bonds
6the amount in the special debt service reserve fund will be less than the special debt
7service reserve fund requirement under sub. (5) for the special debt service reserve
8fund.
AB1-engrossed,42,24 9(5) Special debt service reserve fund requirement. The special debt service
10reserve fund requirement for a special debt service reserve fund, as of any particular
11date of computation, is equal to an amount of money, as provided in the bond
12resolution authorizing the bonds with respect to which the special debt service
13reserve fund is established, that may not exceed the maximum annual debt service
14on the bonds of the district for that fiscal year or any future fiscal year of the district
15secured in whole or in part by that special debt service reserve fund. In computing
16the annual debt service for any fiscal year, bonds deemed to have been paid in
17accordance with the defeasance provisions of the bond resolution authorizing the
18issuance of the bonds shall not be included in bonds outstanding on such date of
19computation. The annual debt service for any fiscal year is the amount of money
20equal to the aggregate of all of the following calculated on the assumption that the
21bonds will, after the date of computation, cease to be outstanding by reason, but only
22by reason, of the payment of bonds when due, and the payment when due, and
23application in accordance with the bond resolution authorizing those bonds, of all of
24the sinking fund payments payable at or after the date of computation:
AB1-engrossed,43,3
1(a) All interest payable during the fiscal year on all bonds that are secured in
2whole or in part by the special debt service reserve fund and that are outstanding on
3the date of computation.
AB1-engrossed,43,64 (b) The principal amount of all of the bonds that are secured in whole or in part
5by the special debt service reserve fund, are outstanding on the date of computation
6and mature during the fiscal year.
AB1-engrossed,43,107 (c) All amounts specified in bond resolutions of the district authorizing any of
8the bonds that are secured in whole or in part by the special debt service reserve fund
9to be payable during the fiscal year as a sinking fund payment with respect to any
10of the bonds that mature after the fiscal year.
AB1-engrossed,43,14 11(6) Valuation of securities. In computing the amount of a special debt service
12reserve fund for the purposes of this section, securities in which all or a portion of the
13special debt service reserve fund is invested shall be valued at par, or, if purchased
14at less than par, at their cost to the district.
AB1-engrossed,44,6 15(7) State moral obligation pledge. If at any time of valuation the special debt
16service reserve fund requirement under sub. (5) for a special debt service reserve
17fund exceeds the amount of moneys in the special debt service reserve fund, the
18district board shall certify to the secretary of administration, the governor, the joint
19committee on finance and the governing body of each county in the district the
20amount necessary to restore the special debt service reserve fund to an amount equal
21to the special debt service reserve fund requirement under sub. (5) for the special
22debt service reserve fund. If this certification is received by the secretary of
23administration in an even-numbered year prior to the completion of the budget
24compilation under s. 16.43, the secretary shall include the certified amount in the
25budget compilation. In any case, the joint committee on finance shall introduce in

1either house, in bill form, an appropriation of the amount so certified to the
2appropriate special debt service reserve fund of the district. Recognizing its moral
3obligation to do so, the legislature hereby expresses its expectation and aspiration
4that, if ever called upon to do so, it shall make this appropriation. This subsection
5applies only with respect to bonds the issuance of which has been approved by the
6joint committee on finance.
AB1-engrossed,44,10 7(8) Information to joint committee on finance. The district shall provide to
8the cochairpersons of the joint committee on finance information concerning the
9district's projected cashflows and security features underlying each issuance of
10bonds under this subchapter.
AB1-engrossed,44,16 11229.75 Bonds not public debt. (1) The state and each county in the district's
12jurisdiction are not liable on bonds and the bonds are not a debt of the state or either
13county in the district. All bonds shall contain a statement to this effect on the face
14of the bond. A bond issue does not, directly or indirectly or contingently, obligate the
15state or a political subdivision of the state to levy any tax or make any appropriation
16for payment of the bonds.
AB1-engrossed,45,2 17(2) Nothing in this subchapter authorizes a district to create a debt of the state
18or a county in the district's jurisdiction, and all bonds issued by a district are payable,
19and shall state that they are payable, solely from the funds pledged for their payment
20in accordance with the bond resolution authorizing their issuance or in any trust
21indenture or mortgage or deed of trust executed as security for the bonds. The state
22and each county in the district's jurisdiction are not liable for the payment of the
23principal of or interest on a bond or for the performance of any pledge, mortgage,
24obligation or agreement that may be undertaken by a district. The breach of any
25pledge, mortgage, obligation or agreement undertaken by a district does not impose

1pecuniary liability upon the state or a county in the district's jurisdiction or a charge
2upon its general credit or against its taxing power.
AB1-engrossed,45,9 3(3) Bonds issued by the district shall be secured only by the district's interest
4in any baseball park facilities, including any interest in a lease with the department
5of administration under s. 16.82 (7); by income from these facilities; by proceeds of
6bonds issued by the district and other amounts placed in a special redemption fund
7and investment earnings on such amounts; and by the taxes imposed by the district
8under subch. V of ch. 77. The district may not pledge its full faith and credit on the
9bonds and the bonds are not a liability of the district.
AB1-engrossed,45,16 10229.76 State pledge. The state pledges to and agrees with the bondholders,
11and persons that enter into contracts with a district under this subchapter, that the
12state will not limit or alter the rights and powers vested in a district by this
13subchapter, including the rights and powers under s. 229.68 (15), before the district
14has fully met and discharged the bonds, and any interest due on the bonds, and has
15fully performed its contracts, unless adequate provision is made by law for the
16protection of the bondholders or those entering into contracts with a district.
AB1-engrossed,45,23 17229.77 Trust funds. All moneys received under this subchapter, whether as
18proceeds from the sale of bonds or from any other source, are trust funds to be held
19and applied solely as provided in this subchapter. Any officer with whom, or any
20bank or trust company with which, those moneys are deposited shall act as trustee
21of those moneys and shall hold and apply the moneys for the purposes of this
22subchapter, subject to this subchapter and the bond resolution authorizing issuance
23of the bonds.
AB1-engrossed,46,6 24229.79 Budgets; rates and charges; audit. A district shall adopt a calendar
25year as its fiscal year for accounting purposes. The district board shall annually

1prepare a budget for the district. Rates and other charges received by the district
2shall be used for the general expenses and capital expenditures of the district and
3to pay interest, amortization, and retirement charges on bonds. A district shall
4maintain an accounting system in accordance with generally accepted accounting
5principles and shall have its financial statements and debt covenants audited
6annually by an independent certified public accountant.
AB1-engrossed,46,8 7229.81 Assistance by state agencies. (1) Definition. In this section, "state
8agency" has the meaning given in s. 20.001 (1).
AB1-engrossed,46,11 9(2) Assistance with respect to granted land or property. All state agencies
10may provide assistance to a district if the district has entered into a lease agreement
11with the department of administration under s. 16.82 (7).
AB1-engrossed, s. 52 12Section 52. 234.65 (1) (c) of the statutes is amended to read:
AB1-engrossed,46,1613 234.65 (1) (c) The authority may not issue more than $200,000,000 in aggregate
14principal amount of bonds and notes under this section, excluding bonds or notes
15secured by a capital reserve fund pursuant to sub. (6) (am) and excluding
bonds and
16notes issued to refund outstanding bonds or notes issued under this section.
AB1-engrossed, s. 53 17Section 53. 234.65 (1) (h) of the statutes is created to read:
AB1-engrossed,46,2018 234.65 (1) (h) Bonds and notes issued by the authority to finance an economic
19development loan for a project described under s. 234.01 (4n) (d) are not general
20obligations of the authority.
AB1-engrossed, s. 54a 21Section 54a. 234.65 (1) (hm) of the statutes is created to read:
AB1-engrossed,47,222 234.65 (1) (hm) The authority may not make a loan under this section for an
23economic development project described under s. 234.01 (4n) (d) to any professional
24baseball team unless the authority determines that collateral adequate to cover the

1amount of the loan has been pledged as security for the loan, exclusive of any
2ownership interest of the team in a stadium.
AB1-engrossed, s. 55 3Section 55. 234.65 (6) (b) of the statutes is amended to read:
AB1-engrossed,47,94 234.65 (6) (b) The Except as provided in sub. (8), the authority may issue bonds
5and notes secured by a capital reserve fund pursuant to par. (am) in an aggregate
6principal amount not exceeding $35,000,000 $50,000,000 plus such additional
7amount as the authority considers necessary or desirable to fund a deposit into the
8capital reserve fund to pay costs of issuing the bonds and notes or to pay capitalized
9interest on the bonds and notes
.
AB1-engrossed, s. 56 10Section 56. 234.65 (8) and (10) of the statutes are created to read:
AB1-engrossed,47,1611 234.65 (8) The authority shall not issue bonds or notes under this section to
12finance the construction of baseball park facilities, as defined in s. 229.65 (1), in
13relation to any single professional baseball park in an aggregate principal amount
14exceeding $50,000,000, excluding bonds and notes issued to fund a deposit into the
15capital reserve fund, to pay costs of issuing the bonds and notes or to pay capitalized
16interest on the bonds and notes.
AB1-engrossed,47,20 17(10) The authority shall provide to the cochairpersons of the joint committee
18on finance information concerning the authority's projected cashflows and security
19features underlying each issuance of bonds to a business for the purpose of financing
20baseball park facilities, as defined in s. 229.65 (1).
AB1-engrossed, s. 57 21Section 57. 704.31 (3) of the statutes is created to read:
AB1-engrossed,47,2322 704.31 (3) This section does not apply to a lease to which a local professional
23baseball park district created under subch. III of ch. 229 is a party.
AB1-engrossed, s. 58 24Section 58. Appropriation changes; administration.
AB1-engrossed,48,6
1(1) In the schedule under section 20.005 (3) of the statutes for the
2appropriation to the department of administration under section 20.505 (1) (kc) of
3the statutes, as affected by the acts of 1995, the dollar amount is increased by
4$336,200 for fiscal year 1995-96 and the dollar amount is increased by $790,100 for
5fiscal year 1996-97 to provide funding for services provided to local professional
6baseball park districts, as created by this act.
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