Amendment ASA4-AB892

AB892-ASA4,24,24 (c) Two persons appointed by the chief elected official of the county in which the football stadium is located. A person appointed under this paragraph may take his or her seat immediately upon appointment and qualification, subject to confirmation or rejection by a majority of the members-elect of the county board.

AB892-ASA4,25,8 (d) One person appointed by the chief elected official of any municipality located wholly or partly within the jurisdiction of the district, other than the most populous city located wholly or partly within the jurisdiction of the district, that has a boundary at the time of creation of the district that is contiguous to a boundary of the site of the football stadium. A person appointed under this paragraph may take his or her seat immediately upon appointment and qualification, subject to confirmation or rejection by a majority of the members-elect of the governing body of the municipality.

AB892-ASA4,25,21 (3) Upon appointment under sub. (2), the appointing authorities shall certify the appointees to the secretary of administration. The terms of office of the persons appointed under sub. (2) shall be 2 years expiring on July 1, except that the initial terms shall expire on July 1 of the 4th year beginning after the year of creation of a district. Persons appointed under sub. (2) (a) may be removed from the district board before the expiration of their terms by the appointing authority but only for cause, as defined in s. 17.16 (2). Persons appointed under sub. (2) (b) to (d) serve at the pleasure of their appointing authorities, and may be removed before the expiration of their terms. Vacancies shall be filled by the appointing authority who appointed the person whose office is vacant. A person appointed to fill a vacancy under sub. (2) shall serve for the remainder of the unexpired term to which he or she is appointed. The appointing authorities shall confer with one another regarding their appointments with a view toward achieving diversity on the district board.

AB892-ASA4,25,24 (4) (a) The district board shall elect from its membership a chairperson, a vice chairperson, a secretary and a treasurer. The secretary shall act as clerk of the district.

AB892-ASA4,26,4 (b) A majority of the current membership of the district board constitutes a quorum to do business. The district may take action based on the affirmative vote of a majority of those members of the district board who are present at a meeting of the district board.

AB892-ASA4,26,6 (5) The members of the district board shall be reimbursed for their actual and necessary expenses incurred in the performance of their duties.

AB892-ASA4,26,9 (6) Upon the appointment and qualification of a majority of the members of a district board, the district board may exercise the powers and duties of a district board under this subchapter.

AB892-ASA4,26,11 (7) The district board shall name the district, and the name shall include "Professional Football Stadium District".

AB892-ASA4,26,21 229.823 Jurisdiction. A district's jurisdiction is any county with a population at the date of the district's creation of more than 150,000 that includes the principal site of a stadium that is home to a professional football team, that is a member of a league of professional football teams that have home stadiums in at least 10 states and a collective average attendance for all league members of at least 40,000 persons per game over the 5 years immediately preceding the year in which a district is created, and that is approved by that league for use as a home stadium for that professional football team. Once created, the district's jurisdiction remains fixed even if population or attendance figures subsequently decline below the minimums described in this section.

AB892-ASA4,26,24 229.824 Powers of a district. A district has all of the powers necessary or convenient to carry out the purposes and provisions of this subchapter. In addition to all other powers granted by this subchapter, a district may do all of the following:

AB892-ASA4,26,25 (1) Adopt bylaws to govern the district's activities, subject to this subchapter.

AB892-ASA4,27,1 (2) Sue and be sued in its own name, plead and be impleaded.

AB892-ASA4,27,2 (3) Maintain an office.

AB892-ASA4,27,3 (4) In connection with football stadium facilities:

AB892-ASA4,27,6 (a) Acquire, construct, equip, maintain, improve, operate and manage the football stadium facilities as a revenue-generating enterprise, or engage other persons to do these things.

AB892-ASA4,27,8 (b) Acquire; lease, as lessor or lessee; use; transfer; or accept transfers of property.

AB892-ASA4,27,12 (c) Improve, maintain and repair property, and fund reserves for maintenance, depreciation and capital improvements. Reserves for depreciation and capital improvements may not be created in the special fund maintained under s. 229.825 (1).

AB892-ASA4,27,17 (d) Enter into contracts, subject to such standards as may be established by the district board. The district board may award any such contract for any combination or division of work it designates and may consider any factors in awarding a contract, including price, time for completion of work and qualifications and past performance of a contractor.

AB892-ASA4,27,18 (e) Grant concessions.

AB892-ASA4,27,19 (f) Sell or otherwise dispose of unneeded or unwanted property.

AB892-ASA4,27,23 (5) Employ personnel, and fix and regulate their compensation; and provide, either directly or subject to an agreement under s. 66.30 as a participant in a benefit plan of another governmental entity, any employe benefits, including an employe pension plan.

AB892-ASA4,28,3 (6) Purchase insurance, establish and administer a plan of self-insurance or, subject to an agreement with another governmental entity under s. 66.30, participate in a governmental plan of insurance or self-insurance.

AB892-ASA4,28,4 (7) Mortgage, pledge or otherwise encumber the district's property or funds.

AB892-ASA4,28,9 (8) Subject to s. 229.8245, issue revenue bonds under s. 66.066, subject to ss. 229.829 to 229.834, and enter into agreements related to the issuance of bonds, including liquidity and credit facilities, remarketing agreements, insurance policies, guaranty agreements, letter of credit or reimbursement agreements, indexing agreements, interest exchange agreements and currency exchange agreements.

AB892-ASA4,28,11 (9) Maintain funds and invest the funds in any investment that the district board considers appropriate.

AB892-ASA4,28,13 (10) Promote, advertise and publicize its football stadium facilities and related activities.

AB892-ASA4,28,16 (11) Set standards governing the use of, and the conduct within, its football stadium facilities in order to promote public safety and convenience and to maintain order.

AB892-ASA4,28,18 (12) Establish and collect fees or other charges for the use of its football stadium facilities or for services rendered by the district.

AB892-ASA4,28,22 (13) Establish and collect fees or other charges for the right to purchase admission to events at the football stadium if the proceeds from any amount that is collected under this subsection are used for purposes related to football stadium facilities.

AB892-ASA4,28,24 (14) Enter into partnerships, joint ventures, common ownership or other arrangements with other persons to further the district's purposes.

AB892-ASA4,29,24 (15) Impose, by the adoption of a resolution, the taxes under subch. V of ch. 77, except that the taxes imposed by the resolution may not take effect until the resolution is approved by a majority of the electors in the district's jurisdiction voting on the resolution at a referendum, to be held at the first spring primary or September primary following by at least 45 days the date of adoption of the resolution. One or two questions shall appear on the ballot. The first question shall be substantially as follows: "Shall a sales tax and a use tax be imposed at the rate of 0.5% in .... County for purposes related to football stadium facilities in the .... Professional Football Stadium District?" The county board may also submit a 2nd question which shall ask whether available revenues from the 0.5% sales tax and use tax will be permitted to be used for property and sales tax relief purposes in that county. The text of the 2nd question shall be specified by the county board. Approval of the first question constitutes approval of the resolution of the district board. Approval of the 2nd question is not effective unless the first question is approved. The clerk of the district shall publish the notices required under s. 10.06 (4) (c), (f) and (i) for any referendum held under this subsection. Notwithstanding s. 10.06 (4) (c), the type A notice under s. 10.01 (2) (a) relating to the referendum is valid even if given and published late as long as it is given and published prior to the election as early as practicable. A district may not levy any taxes that are not expressly authorized under subch. V of ch. 77. If a district board adopts a resolution that imposes taxes and the resolution is approved by the electors, the district shall deliver a certified copy of the resolution to the secretary of revenue at least 30 days before its effective date. If a district board adopts a resolution that imposes taxes and the resolution is not approved by the electors, the district is dissolved.

AB892-ASA4,29,25 (16) Accept gifts, loans and other aid.

AB892-ASA4,30,2 (17) Administer the receipt of revenues, and oversee the payment of bonds issued by the district.

AB892-ASA4,30,3 (18) Adopt and alter an official seal.

AB892-ASA4,30,9 (19) Subject to the limitation in this subsection, sell engraved tiles or bricks, which may be placed in or around football stadium facilities. The net proceeds from the sale of engraved tiles or bricks shall be used by the district to retire bonds issued for purposes related to football stadium facilities. No tiles or bricks may be sold under this subsection if the net proceeds from such sales would exceed the amount that would jeopardize the federal tax-exempt status of the bonds.

AB892-ASA4,30,12 229.8245 Limitations on district, state actions. (1) The name of a football stadium may not be changed without the written consent of the municipality in which it is located.

AB892-ASA4,30,15 (2) The district may not issue bonds under s. 229.824 (8), and the department of transportation may not make any payments under s. 85.62, unless all of the following apply:

AB892-ASA4,30,18 (a) The district has entered into a lease with a professional football team, as described in s. 229.823, under which the team agrees to be the principal tenant of the football stadium for a term of not less than 30 years.

AB892-ASA4,30,23 (b) The district and a professional football team, as described in s. 229.823, enter into an agreement under which the team agrees to purchase any unsold tickets to a professional football game that is held at the home stadium in order to ensure that, if the game is televised, there will be a live television broadcast of the game within the district's jurisdiction.

AB892-ASA4,31,4 (c) A professional football team, as described in s. 229.823, certifies to the district that it has applied to the league of professional football teams to which it belongs for approval of a policy that allows a person who paid a onetime license or similar right, as described in s. 77.54 (45), to receive a payment in an amount that is equal to the amount of the license or right from any person who subsequently receives that license or right.

AB892-ASA4,31,7 (3) The district may not use any of the revenue that is derived from the taxes imposed under subch. V of ch. 77 for any compensation paid to players and coaching staff of the professional football team described in s. 229.823.

AB892-ASA4,31,15 229.825 Special fund tax revenues. (1) The district board shall maintain one special fund into which it deposits all of the revenue received from the department of revenue, that is derived from the taxes imposed under subch. V of ch. 77 and from football donations, as defined in s. 71.10 (5e) (a) 2., and may use this revenue only for the purposes specified in sub. (2). The district may not deposit any other moneys into the special fund, except that the district shall credit all earnings on the revenues in the special fund to the special fund. The earnings on the revenues shall be used only for the purposes specified in sub. (2).

AB892-ASA4,31,21 (2) The district shall first use the revenues in the special fund maintained under sub. (1) for the payment of current debt service on bonds issued by the district for purposes related to football stadium facilities. If the revenues in the special fund exceed the amount required to pay current debt service on bonds issued by the district for purposes related to football stadium facilities, the district shall apply the excess revenues for the following purposes in the following order:

AB892-ASA4,32,5 (a) If the 2nd question under s. 229.824 (15) is submitted and approved by the electors, in the first and 2nd years after the year in which the 2nd question is approved, the district shall pay the county that is in the district's jurisdiction an amount equal to the remaining revenues in the fund but not exceeding $4,031,000. In the 3rd year after the year in which the 2nd question submitted under s. 229.824 (15) is approved by the electors, the district shall pay the county that is in the district's jurisdiction an amount equal to the remaining revenues in the fund but not exceeding 20% of the revenues that is derived from taxes imposed by the district under subch. V of ch. 77.

AB892-ASA4,32,13 (b) Beginning in the year that occurs immediately after the year in which the tax is first imposed under s. 77.706, an amount equal to not more than $750,000 may be used to pay the district board's administration expenses. In the succeeding year, an amount equal to not more than $500,000 may be used to pay the district board's administration expenses. In the 2nd succeeding year, and each year thereafter, an amount equal to not more than $200,000 may be used to pay the district board's administration expenses. The amount authorized to be expended under this paragraph may be expended annually until the earlier of the following:

AB892-ASA4,32,15 1. The 30th year beginning after the initial year in which the revenues are first used to pay the district board's administration expenses.

AB892-ASA4,32,19 2. The year in which the district board determines that the balance of moneys in the reserve created under par. (d) 2. or (e) 2., whichever is applicable, plus all projected earnings on the moneys, are sufficient to pay the costs specified under subd. 1.

AB892-ASA4,33,3 (c) If the 2nd question under s. 229.824 (15) is submitted and approved by the electors, beginning in the 3rd year after the year in which the 2nd question is approved, or in the 3rd year that occurs immediately after the year in which the tax is first imposed under s. 77.706 if the 2nd question under s. 229.824 (15) is not submitted or not approved by the electors, an amount equal to not more than $4,031,000 shall be deposited into a reserve that is used to pay the maintenance and operating costs of the football stadium facilities. This amount may be increased each year thereafter by not more than 3% and may be expended annually until the earlier of the following:

AB892-ASA4,33,5 1. The 28th year beginning after the initial year in which the revenues are first used to pay the maintenance and operating costs of the football stadium facilities.

AB892-ASA4,33,8 2. The year in which the district board determines that the balance of moneys in the reserve created, plus all projected earnings on the moneys, are sufficient to pay the costs specified under subd. 1.

AB892-ASA4,33,13 (d) If the 2nd question under s. 229.824 (15) is submitted and approved by the electors, the district shall pay the remainder to the county that is in the district's jurisdiction for the purpose of reducing the county's property tax levy or, if the county board otherwise requires, the district shall use any portion of the remainder for the following purposes:

AB892-ASA4,33,15 1. To retire bonds issued for purposes related to football stadium facilities, and any bonds issued to fund or refund those bonds, prior to their maturity.

AB892-ASA4,33,21 2. To fully fund the reserve to pay the maintenance and operating costs of the football stadium facilities specified in par. (c) and to establish a reserve to pay the district board's administration expenses specified in par. (b), but only after all bonds issued for purposes related to football stadium facilities and all bonds issued to fund or refund those bonds are retired or have been paid in accordance with the defeasance provisions of the bond resolution authorizing the issuance of the bonds.

AB892-ASA4,33,23 (e) If the 2nd question under s. 229.824 (15) is not submitted or not approved by the electors, the district shall use the remainder for the following purposes:

AB892-ASA4,33,25 1. To retire bonds issued for purposes related to football stadium facilities, and any bonds issued to fund or refund those bonds, prior to their maturity.

AB892-ASA4,34,6 2. To fully fund the reserve to pay the maintenance and operating costs of the football stadium facilities specified in par. (c) and to establish a reserve to pay the district board's administration expenses specified in par. (b), but only after all bonds issued for purposes related to football stadium facilities and all bonds issued to fund or refund those bonds are retired or have been paid in accordance with the defeasance provisions of the bond resolution authorizing the issuance of the bonds.

AB892-ASA4,34,7 (3) The district board shall do all of the following:

AB892-ASA4,34,12 (a) As soon as practicable after all bonds issued for purposes related to football stadium facilities and all bonds issued to fund or refund those bonds are retired or have been paid in accordance with the defeasance provisions of the bond resolution authorizing the issuance of the bonds, the district board shall make a certification to the department of revenue to that effect.

AB892-ASA4,34,15 (b) As soon as practicable after fully funding the reserves specified under sub. (2) (d) 2. or (e) 2., whichever is applicable, the district board shall make a certification to the department of revenue to that effect.

AB892-ASA4,34,18 229.826 Powers granted to a municipality or county. In addition to any powers that it may otherwise have, a county or municipality located wholly or partly within a district's jurisdiction may do any of the following:

AB892-ASA4,34,20 (1) Make grants or loans to a district upon terms that the county or municipality considers appropriate.

AB892-ASA4,34,21 (2) Expend public funds to subsidize a district.

AB892-ASA4,34,23 (3) Borrow money under ss. 67.04 and 67.12 (12) for football stadium facilities or to fund grants, loans or subsidies to a district.

AB892-ASA4,34,25 (4) Lease or transfer property to a district upon terms that the county or municipality considers appropriate.

AB892-ASA4,35,4 (5) With the consent of a district, establish and collect fees or other charges applicable only to a football stadium for the right to purchase admission to events at the stadium, if the proceeds from any amount that is collected under this subsection are used for purposes related to football stadium facilities.

AB892-ASA4,35,10 229.827 Contracting. (1) Unless a district board determines that it is not feasible to do so, the district shall enter into a contract with a professional football team, as described in s. 229.823, or a related party, that requires the team or related party to acquire and construct football stadium facilities that are part of any facilities that are leased by the district to the team or to a related party, without regard to whether the football stadium facilities are financed by the district.

AB892-ASA4,35,14 (2) Unless otherwise provided in an agreement with a professional football team, as described in s. 229.823, the district shall be responsible only for the maintenance and operating costs of the football stadium facilities up to an amount that is in the reserve specified in s. 229.825 (2) (c).

AB892-ASA4,35,20 229.8275 Prevailing wage. A district may not enter into a contract under s. 229.827 with a professional football team, as described in s. 229.823, or a related party that requires the team or related party to acquire and construct football stadium facilities that are part of any facilities that are leased by the district to the team or to a related party unless the professional football team or related party agrees as follows:

AB892-ASA4,36,2 (1) Not to permit any employe working on the football stadium facilities who would be entitled to receive the prevailing wage rate under s. 66.293 and who would not be required or permitted to work more than the prevailing hours of labor, if the football stadium facilities were a project of public works subject to s. 66.293, to be paid less than the prevailing wage rate or to be required or permitted to work more than the prevailing hours of labor, except as permitted under s. 66.293 (4) (a).

AB892-ASA4,36,7 (2) To require any contractor, subcontractor or agent thereof performing work on the football stadium facilities to keep and permit inspection of records in the same manner as a contractor, subcontractor or agent thereof performing work on a project of public works that is subject to s. 66.293 is required to keep and permit inspection of records under s. 66.293 (10).

AB892-ASA4,36,14 (3) Otherwise to comply with s. 66.293 in the same manner as a local governmental unit contracting for the erection, construction, remodeling, repairing or demolition of a project of public works is required to comply with s. 66.293 and to require any contractor, subcontractor or agent thereof performing work on the football stadium facilities to comply with s. 66.293 in the same manner as a contractor, subcontractor or agent thereof performing work on a project of public works that is subject to s. 66.293 is required to comply with s. 66.293.

AB892-ASA4,36,24 229.828 Dissolution of a district. Subject to providing for the payment of its bonds, including interest on the bonds, and the performance of its other contractual obligations, a district may be dissolved by the action of the district board. If a district board adopts a resolution that imposes taxes and the resolution is not approved by the electors, as described in s. 229.824 (15), the district is dissolved. If the district is dissolved, the property of the district shall be transferred to the political subdivisions that compose the district's jurisdiction in such proportions as the secretary of administration determines fairly and reasonably represent the contributions of each political subdivision to the development or improvement of the football stadium facilities.

AB892-ASA4,37,3 229.829 Issuance and negotiability of bonds. (1) Negotiability. All bonds are negotiable for all purposes, notwithstanding their payment from a limited source.

AB892-ASA4,37,6 (2) Employment of financial consultant. A district may retain the building commission or any other person as its financial consultant to assist with and coordinate the issuance of bonds.

AB892-ASA4,37,10 (3) No personal liability. Neither the members of the district board nor any person executing the bonds is liable personally on the bonds or subject to any personal liability or accountability by reason of the issuance of the bonds, unless the personal liability or accountability is the result of wilful misconduct.

AB892-ASA4,37,14 (4) Limit on bonds. The principal amount of bonds, other than refunding bonds, that are issued by a district may not exceed $160,000,000. The limitation under this subsection does not include the proceeds of any bonds that are used for any of the following purposes:

AB892-ASA4,37,15 (a) To pay issuance costs of the bonds.

AB892-ASA4,37,16 (b) To pay any original issue discount.

AB892-ASA4,37,17 (c) To make a deposit into a special debt service reserve fund.

AB892-ASA4,37,18 (d) To pay costs of credit enhancement.

AB892-ASA4,37,20 (5) Date of issuance. All bonds, other than refunding bonds, that are issued by a district shall be issued no later than December 31, 2004.

AB892-ASA4,38,2 229.830 Special debt service reserve funds for moral obligation pledge. (1) Designation of special debt service reserve funds. A district may designate one or more accounts in funds created under s. 66.066 (2) (e) as special debt service reserve funds, if, prior to each issuance of bonds to be secured by each special debt service reserve fund, the secretary of administration determines that all of the following conditions are met with respect to the bonds:

AB892-ASA4,38,4 (a) Purpose. The proceeds of the bonds, other than refunding bonds, will be used for purposes related to football stadium facilities.

AB892-ASA4,38,10 (b) Feasibility. The proceeds of bonds, other than refunding bonds, will be used for feasible projects and there is a reasonable likelihood that the bonds will be repaid without the necessity of drawing on funds in the special debt service reserve fund that secures the bonds. The secretary of administration may make the determinations required under this paragraph only after considering all of the following:

AB892-ASA4,38,12 1. Whether a pledge of the tax revenues of the district is made under the bond resolution.

AB892-ASA4,38,13 2. How the tax revenues of the district are pledged to the payment of the bonds.

AB892-ASA4,38,16 3. Revenue projections for the project to be financed by the bonds, including tax revenues, and the reasonableness of the assumptions on which these revenue projections are based.

AB892-ASA4,38,18 4. The proposed interest rates of the bonds and the resulting cash-flow requirements.

AB892-ASA4,38,20 5. The projected ratio of annual tax revenues to annual debt service of the district, taking into account capitalized interest.