66.0711 (1) of the statutes is created to read:
66.0711 (1) In this section:
(a) "Local governmental unit" has the meaning given in s. 66.0713 (1) (c).
(b) "Public improvement" has the meaning given in s. 66.0713 (1) (d).
66.0713 (10) (title) of the statutes is created to read:
66.0713 (10) (title) Legality of proceedings; conclusive evidence.
66.0715 (title) of the statutes is created to read:
66.0715 (title) Deferral of special assessments; payment of special assessments in instalments.
66.0715 (1) of the statutes is created to read:
66.0715 (1) Definitions. In this section:
(a) "Governing body" has the meaning given in s. 66.0713 (1) (b).
(b) "Local governmental unit" has the meaning given in s. 66.0713 (1) (c).
(c) "Public improvement" has the meaning given in s. 66.0713 (1) (d).
66.0719 (1) of the statutes is created to read:
66.0719 (1) In this section:
(a) "Local governmental unit" has the meaning given in s. 66.0713 (1) (c).
(b) "Public improvement" has the meaning given in s. 66.0713 (1) (d).
66.072 of the statutes is renumbered 66.0827, and 66.0827 (2) to (4), (5) (a) and (b) and (6), as renumbered, are amended to read:
66.0827 (2) The fund of each utility district shall be provided by taxation of the property in such the district, upon an annual estimate by the department in charge of public works in cities and villages, and by the town chairperson in towns, filed by October 1. Separate account shall be kept of each district fund.
(3) In towns a majority vote and in villages and cities a three-fourths vote of all the members of the governing body shall be is required to thus establish utility districts and by a like vote districts may be vacated, altered, or consolidated, vacate, alter or consolidate a utility district.
(4) Before the vote is effective to establish, vacate, alter or consolidate a utility district, a hearing shall be held as provided in s. 66.60 (7) 66.0703 (7) (a). In towns the notice may be given by posting in 3 public places in said the town, one of which shall be in the proposed district, at least 2 weeks prior to such the hearing.
(5) (a) When any If a town board establishes a utility district under this section the board may also, if a town sanitary district is in existence for the town, dissolve said the sanitary district in which case. If the sanitary district is dissolved, all assets, liabilities and functions of the sanitary district shall be taken over by the utility district.
(b) All functions performed by a sanitary district and assumed by a utility district under this subsection shall remain subject to regulation by the public service commission as if no transfer had occurred.
(6) Whenever If a municipality, within which a utility district is located, is consolidated with another municipality which provides the same or similar services for which the district was established, but on a municipality-wide basis rather than on a utility district basis as provided in this section, the fund of the utility district shall become becomes part of the general fund of the consolidated municipality; thereupon said and the utility district shall be abolished terminates. This section shall also apply applies to consolidations completed prior to, on and after June 30, 1965.
66.0721 (title) of the statutes is created to read:
66.0721 (title) Special assessments on certain farmland for construction of sewerage or water system.
66.0727 (4) of the statutes is created to read:
66.0727 (4) This section does not preclude a city, village or town from using any other lawful method to compel a railroad corporation to pay its proportionate share of a street, alley or public highway improvement.
Note: Restates s. 66.699, which is repealed by Section 561.
66.0729 (6) of the statutes is created to read:
66.0729 (6) This section does not preclude a city, village or town from using any other lawful method to compel a railroad corporation to pay its proportionate share of a street, alley or public highway improvement.
Note: Restates s. 66.699, which is repealed by Section 561.
66.073 of the statutes is renumbered 66.0825, and 66.0825 (2), (3) (f), (g) and (h), (4) (a), (5) (b), (c), (e), (f) and (i), (6) (intro.), (a), (f), (g), (h) and (o), (7), (8) (a) 3. and 4., (b) and (c), (9), (10), (11), (12), (13) (intro.), (b), (d), (e), (g), (j), (k), (L), (m), (n) and (o), (14), (15), (16) (b), (17) and (18), as renumbered, are amended to read:
66.0825 (2) Finding and declaration of necessity. It is declared that the operation of electric utility systems by municipalities of this state and the improvement of the systems through joint action in the fields of the generation, transmission and distribution of electric power and energy is are in the public interest; that there is a need in order to ensure the stability and continued viability of the municipal systems to provide for a means by which municipalities which operate the systems may act jointly in all ways possible, including development of coordinated bulk power and fuel supply programs and efficient, community-based energy systems; and that, the necessity in the public interest for the provisions hereinafter enacted in this section is declared as a matter of legislative determination.
(3) (f) "Person" means a natural person, a public agency, cooperative or private corporation, limited liability company, association, firm, partnership, or business trust of any nature whatsoever, organized and existing under the laws of any state or of the United States.
(g) "Project" means any plant, works, system, facilities, and real and personal property of any nature whatsoever, together with all parts thereof, and appurtenances thereto, used or useful in the generation, production, transmission, distribution, purchase, sale, exchange, or interchange of electric power and energy, or any interest therein or right to capacity thereof and the acquisition of fuel of any kind for any such these purposes, including, but not limited to,: the acquisition of fuel deposits and the acquisition or construction and operation of facilities for extracting fuel from natural deposits, for converting it for use in another form, for burning it in place, for transportation, storage and reprocessing or for any energy conservation measure which involves public education or the actual fitting and application of a device.
(h) "Public agency" means any municipality or other municipal corporation, political subdivision, governmental unit, or public corporation created under the laws of this state or of another state or of the United States, and any state or the United States, and any person, board, or other body declared by the laws of any state or the United States to be a department, agency or instrumentality thereof of the state or the United States.
(4) (a) Any combination of municipalities of the state which operate operates facilities for the generation or, transmission or distribution of electric power and energy may, by contract with each other, establish a separate governmental entity to be known as a municipal electric company to be used by such the contracting municipalities to effect joint development of electric energy resources or production, distribution and transmission of electric power and energy in whole or in part for the benefit of the contracting municipalities. The municipalities party to the contract may amend the contract as provided therein in the contract.
(5) (b) The establishment and organization of a governing body of the company which shall be a board of directors in which all powers of the company are vested. The contract may provide for the creation by the board of an executive committee of the board to which the powers and duties may be delegated as the board shall specify specifies.
(c) The number of directors, the manner of their appointment, terms of office and compensation, if any, and the procedure for filling vacancies on the board. Each contracting municipality shall have the power to may appoint one member to the board of directors and shall be entitled to may remove that member at will.
(e) The voting requirements for action by the board; but, unless. Unless specifically provided otherwise, a majority of directors shall constitute constitutes a quorum and a majority of the quorum shall be is necessary for any action taken by the board.
(f) The duties of the board which shall include the obligation to comply or to cause compliance with this section and the laws of the state and in addition, with each and every term, provision and covenant in the contract creating the company on its part to be kept or performed.
(i) The term of the contract, which may be a definite period or until rescinded or terminated, and the method, if any, by which the contract may be rescinded or terminated, but that the. The contract may not be rescinded or terminated so long as while the company has bonds outstanding, unless provision for full payment of such
the bonds, by escrow or otherwise, has been made pursuant to the terms of the bonds or the resolution, trust indenture or security instrument securing the bonds.
(6) Powers. (intro.) The general powers of an electric company shall include the power to:
(a) Plan, develop, acquire, construct, reconstruct, operate, manage, dispose of, participate in, maintain, repair, extend or improve one or more projects within or outside the state and act as agent, or designate one or more other persons participating in a project to act as its agent, in connection with the planning, acquisition, construction, operation, maintenance, repair, extension or improvement of such the project.
(f) Contract with any person or public agency within or outside the state, for the construction of any project or for the sale or transmission of electric power and energy generated by any project, or for any interest therein
in a project or any right to capacity thereof of a project, on such the terms and for such the period of time as that its board of directors shall determine determines.
(g) Purchase, sell, exchange, transmit or distribute electric power and energy within and outside the state in such the amounts as it shall determine to be necessary and appropriate to make the most effective use of its powers and to meet its responsibilities, and to enter into agreements with any person or public agency with respect to such the purchase, sale, exchange, or transmission, on such the terms and for such the period of time as that its board of directors shall determine determines. A company may not sell power and energy at retail unless requested to do so by a municipal member within the service area of that municipal member.
(h) Acquire, own, hold, use, lease as lessor or lessee, sell or otherwise dispose of, mortgage, pledge, or grant a security interest in any real or personal property, commodity or service or interest therein in any real or personal property, commodity or service, subject to s. 182.017 (7).
(o) Notwithstanding the provisions of any other law, invest any funds held in reserve or sinking funds, or any funds not required for immediate disbursement, including the proceeds from the sale of any bonds, in such obligations, securities and other investments as
that the company deems proper.
(7) Public character. An electric company established by contract under this section shall constitute constitutes a political subdivision and body public and corporate of the state, exercising public powers, separate from the contracting municipalities. It shall have
has the duties, privileges, immunities, rights, liabilities and disabilities of a public body politic and corporate but shall does not have taxing power.
(8) (a) 3. Purchase agreements entered into under subd. 2. may, in addition to the provisions authorized under subd. 2., contain other terms and conditions that the company and the purchasers determine, including provisions whereby obligating the purchaser is obligated to pay for power irrespective of whether energy is produced or delivered to the purchaser or whether any project contemplated by any such agreement under subd. 2. is completed, operable or operating, and notwithstanding suspension, interruption, interference, reduction or curtailment of the output of such the project.
4. Purchase agreements entered into under subd. 2. may be for a term covering the life of a project or for any other term, or for an indefinite period. The contract created under sub. (5) or a purchase agreement may provide that if one or more of the purchasers defaults in the payment of its obligations under a purchase agreement, the remaining purchasers which also have purchase agreements shall be required to accept and pay for and shall be are entitled proportionately to use or otherwise dispose of the power and energy to be purchased by the defaulting purchaser.
(b) The obligations of a municipality under a purchase agreement with a company or arising out of the default by any other purchaser with respect to such an
a purchase agreement shall not be construed to constitute are not debt of the municipality. To the extent provided in the purchase agreement, such the obligations shall constitute special obligations of the municipality, payable solely from the revenues and other moneys derived by the municipality from its municipal electric utility and shall be treated as expenses of operating a municipal electric utility.
(c) The contract also may provide for payments in the form of contributions to defray the cost of any purpose set forth in the contract and as advances for any such purpose in the contract subject to repayment by the company.
(9) Sale of excess capacity. (a) An electric company may sell or exchange, to any other person or public agency, excess power and energy produced or owned by it not required by any of the contracting municipalities for such the consideration and for such, period and upon such terms and conditions as it may determine to any other person or public agency that it determines.
(b) Notwithstanding any other provision of this section or any other statute, nothing shall prohibit
prohibits a company from undertaking any project in conjunction with or owning any project jointly with any person or public agency.
(10) Regulation. An electric company created under this section shall be deemed to be is a "public utility" for purposes of ch. 196, except that the terms and conditions and the rates at which a company sells power and energy for resale shall not be are not subject to regulation or alteration by the public service commission.
(11) Types of bonds. (a) An electric company may issue such types of bonds as it may determine it determines, subject only to any agreement with the holders of particular bonds, including bonds as to which the principal and interest are payable exclusively from all or a portion of the revenues from one or more projects, or from one or more revenue producing contracts made by the company with any person or public agency, or from its revenues generally, or which may be additionally secured by a pledge of any grant, subsidy, or contribution from any public agency or other person, or a pledge of any income or revenues, funds, or moneys of the company from any source whatsoever.
(b) A company may from time to time issue its bonds in such principal amounts as that the company deems necessary to provide sufficient funds to carry out any of its corporate purposes and powers, including the establishment or increase of reserves, interest accrued during construction of a project and for a period not exceeding one year after the completion of construction of a project, and the payment of all other costs or expenses of the company incident to and necessary or convenient to carry out its corporate purposes and powers.
(c) Neither the members of the board of directors of a company nor any person executing the bonds shall be is liable personally on the bonds by reason of the issuance thereof of the bonds.
(d) The bonds of an electric company (, and such the bonds shall so state on their face) shall, are not be a debt of the municipalities which are parties to the contract creating the company or of the state and neither the state nor any such municipality shall be
is liable thereon on the bonds nor in any event shall such are the bonds be payable out of any funds or properties other than those of the company.
(12) Form and sale of bonds. (a) Bonds of an electric company shall be authorized by resolution of the board of directors and may be issued under such the resolution or under a trust indenture or other security instrument in one or more series and shall bear such date or
the dates, mature at such time or the times, bear interest at such rate or the rates, be in such denomination or the denominations, be in the form of coupon bonds or registered bonds under s. 67.09, have such the rank or priority, be executed in such the manner, be payable in such the medium of payment, at such place or the places, and be subject to such the terms of redemption, with or without premium, as such that the resolution, trust indenture or other security instrument may provide provides, and without limitation by the provisions of any other law limiting amounts, maturities or interest rates.
(b) The bonds may be sold at public or private sale as the company may provide provides and at such price or the prices as that the company shall determine determines.
(c) In case any of the officers whose signatures appear on any bonds or coupons shall cease If an officer whose signature appears on a bond or coupon ceases to be such officers an officer before the delivery of such obligations, such signatures shall, nevertheless, be the obligation, the signature is valid and sufficient for all purposes, the same as if the officers
officer had remained in office until such delivery.
(13) Covenants. (intro.) The company
shall have power may in connection with the issuance of its bonds to:
(b) Redeem the bonds, to covenant for their redemption and to provide the terms and conditions thereof of the redemption.
(d) Covenant and prescribe as to events of default and terms and conditions upon which any or all of its bonds shall become or may be declared due before maturity, as to the terms and conditions upon which such the declaration and its consequences may be waived and as to the consequences of default and the remedies of bondholders.
(e) Covenant as to the mortgage or pledge of or the grant of a security interest in any real or personal property and all or any part of the revenues from any project or projects or any revenue producing contract or contracts made by the company with any person or public agency to secure the payment of bonds, subject to such existing agreements with the holders of bonds as may then exist.
(g) Covenant as to the purposes to which the proceeds from the sale of any bonds then or thereafter to be issued may be applied, and the pledge of such the proceeds to secure the payment of the bonds.
(j) Covenant as to the procedure by which the terms of any contract with or for the benefit of the holders of bonds may be amended or abrogated, the amount of bonds, the holders of which must consent thereto
to amendment or abrogation, and the manner in which such consent may be given.
(k) Covenant as to the custody and safekeeping of any of its properties or investments, the safekeeping thereof, the insurance to be carried thereon
on the properties or investments, and the use and disposition of insurance proceeds.
(L) Covenant as to the vesting in a trustee or one or more trustees, within or outside the state, of such those properties, rights, powers and duties in trust as
that the company may determine determines.
(m) Covenant as to the appointing and providing for the duties and obligations of a paying agent or one or more paying agents or other fiduciaries within or outside the state.
(n) Make all other covenants and to do any and all such acts and things as may be necessary or convenient or desirable in order to secure its bonds, or in the absolute discretion of the company tend to make the bonds more marketable; notwithstanding that such the covenants, acts or things may not be enumerated herein; it being the intention hereof to give the in this subsection. A company power to may do all things in the issuance of bonds and in the provisions for security thereof of the bonds which are not inconsistent with the constitution of the state.
(o) Execute all instruments necessary or convenient in the exercise of the powers herein granted in this subsection or in the performance of covenants or duties, which may contain such covenants and provisions, as that any purchaser of the bonds of the company may reasonably require requires.
(14) Refunding bonds. A company may issue refunding bonds for the purpose of paying any of its bonds at or prior to maturity or upon acceleration or redemption. Refunding bonds may be issued at such
the time prior to the maturity or redemption of the refunded bonds as that the company deems to be in the public interest. The refunding bonds may be issued in sufficient amounts to pay or provide the principal of the bonds being refunded, together with any redemption premium thereon on the bonds, any interest accrued or to accrue to the date of payment of such the bonds, the expenses of issue of the refunding bonds, the expenses of redeeming the bonds being refunded, and such the reserves for debt service or other capital or current expenses from the proceeds of such the refunding bonds as may be required by the resolution, trust indenture or other security instruments. The issue of refunding bonds, the maturities and other details thereof of, the security therefor for, the rights of the holders thereof of, and the rights, duties and obligations of the company in respect of the same shall be refunding bonds are governed by the provisions of this section relating to the issue of bonds other than refunding bonds insofar as the same may be to the extent that the provisions are applicable.
(15) Bonds eligible for investment.
Bonds issued by a company under this section are hereby made securities in which all All public officers and agencies
of the state and all political subdivisions, of the state and all insurance companies, trust companies, banks, savings banks, savings and loan associations, investment companies, executors, administrators, trustees and other fiduciaries may properly and legally invest funds, including capital in their control or belonging to them. Such, in bonds issued by a company under this section. The bonds are hereby made securities which may properly and legally be deposited with and received by any officer or agency of the state or any political subdivision for any purpose for which the deposit of bonds or obligation of the state or any political subdivision is now or may hereafter be authorized by law.
(16) (b) The property of a company, including any proportional share of any property owned by a company in conjunction with any other person or public agency, is declared to be public property used for essential public and governmental purposes and such the property or proportional share, a company and its income shall be
are exempt from all taxes of the state or any state public body except that for each project owned or partly owned by it, a company shall make payments-in-lieu-of-taxes to the state equal to the amount which would be paid to the state under ss. 76.01 to 76.26 for such the project or share thereof of the project if it were deemed to be owned by a company under s. 76.02 (2). The payment shall be determined, administered and distributed by the state in the same manner as the taxes paid by companies under ss. 76.01 to 76.26.
(17) Successor. A company shall, if the contract so provides, be the successor to any nonprofit corporation, agency or any other entity theretofore previously organized by such the contracting municipalities to provide the same or a related function, and the company shall be is entitled to all rights and privileges and shall assume all obligations and liabilities of the other entity under existing contracts to which the other entity is a party.
(18) Other statutes. The powers granted under this section do not limit the powers of municipalities to enter into intergovernmental cooperation or contracts or to establish separate legal entities under s. 66.30
ss. 66.0301 to 66.0311 or any other applicable law, or otherwise to carry out their powers under applicable statutory provisions, nor shall such do the powers
granted under this section limit the powers reserved to municipalities by state law.
66.0735 of the statutes is renumbered 66.0823, and 66.0823 (5) (q), as renumbered, is amended to read:
66.0823 (5) (q) Invest any funds held in reserve or sinking funds, or any funds not required for immediate disbursement, including the proceeds from the sale of any bonds, in such obligations, securities and other investments as the authority deems proper in accordance with s. 66.04 (2) 66.0603 (1).
66.074 of the statutes is repealed.
Note: Repealed as obsolete. Section 66.074 grants authority to cities, villages and towns in connection with ice plants, fuel depots and landing fields. Current municipal authority regarding airports is contained in ch. 114.
66.075 of the statutes is repealed.
Note: Repealed as obsolete. Section 66.075 authorizes counties, cities, villages and towns of over 5,000 population to construct and maintain public slaughterhouses.
66.076 (title) of the statutes is renumbered 66.0821 (title) and amended to read:
66.0821 (title) Sewerage system, service charge and storm water systems.
66.076 (1) of the statutes is renumbered 66.0821 (2) (a) and amended to read: