AB892-SSA1,47,116
(b)
Feasibility. The proceeds of bonds, other than refunding bonds, will be used
7for feasible projects and there is a reasonable likelihood that the bonds will be repaid
8without the necessity of drawing on funds in the special debt service reserve fund
9that secures the bonds. The secretary of administration may make the
10determinations required under this paragraph only after considering all of the
11following:
AB892-SSA1,47,1312
1. Whether a pledge of the tax revenues of the district is made under the bond
13resolution.
AB892-SSA1,47,1414
2. How the tax revenues of the district are pledged to the payment of the bonds.
AB892-SSA1,47,1715
3. Revenue projections for the project to be financed by the bonds, including tax
16revenues, and the reasonableness of the assumptions on which these revenue
17projections are based.
AB892-SSA1,47,1918
4. The proposed interest rates of the bonds and the resulting cash-flow
19requirements.
AB892-SSA1,47,2120
5. The projected ratio of annual tax revenues to annual debt service of the
21district, taking into account capitalized interest.
AB892-SSA1,47,2422
6. Whether an understanding exists providing for repayment by the district to
23the state of all amounts appropriated to the special debt service reserve fund
24pursuant to sub. (7).
AB892-SSA1,48,3
17. Whether the district has agreed that the department of administration will
2have direct and immediate access, at any time and without notice, to all records of
3the district.
AB892-SSA1,48,74
(c)
Limit on bonds issued backed by moral obligation pledge. The principal
5amount of all bonds, other than refunding bonds, that would be secured by all special
6debt service reserve funds of the district will not exceed the amount of bonds, other
7than refunding bonds, that may be issued under s. 229.829 (4).
AB892-SSA1,48,98
(d)
Date of issuance. The bonds, other than refunding bonds, will be issued no
9later than December 31, 2004.
AB892-SSA1,48,1110
(e)
Refunding bonds. All refunding bonds to be secured by the special debt
11service reserve fund meet all of the following conditions:
AB892-SSA1,48,1312
1. The refunding bonds are to be issued to fund, refund or advance refund bonds
13secured by a special debt service reserve fund.
AB892-SSA1,48,1514
2. The refunding of bonds by the refunding bonds will not adversely affect the
15risk that the state will be called on to make a payment under sub. (7).
AB892-SSA1,48,2116
(f)
Approval of outstanding debt. All outstanding debt of the district has been
17reviewed and approved by the secretary of administration. In determining whether
18to approve outstanding debt under this paragraph, the secretary may consider any
19factor which the secretary determines to have a bearing on whether the state moral
20obligation pledge under sub. (7) should be granted with respect to an issuance of
21bonds.
AB892-SSA1,48,2522
(g)
Financial reports. The district has agreed to provide to the department of
23administration, the legislative fiscal bureau and the legislative audit bureau all
24financial reports of the district and all regular monthly statements of any trustee of
25the bonds on a direct and ongoing basis.
AB892-SSA1,49,7
1(2) Payment of funds into a special debt service reserve fund. A district shall
2pay into any special debt service reserve fund of the district any moneys appropriated
3and made available by the state under sub. (7) for the purposes of the special debt
4service reserve fund, any proceeds of a sale of bonds to the extent provided in the bond
5resolution authorizing the issuance of the bonds and any other moneys that are made
6available to the district for the purpose of the special debt service reserve fund from
7any other source.
AB892-SSA1,49,23
8(3) Use of moneys in the special debt service reserve fund. All moneys held
9in any special debt service reserve fund of a district, except as otherwise specifically
10provided, shall be used, as required, solely for the payment of the principal of bonds
11secured in whole or in part by the special debt service reserve fund, the making of
12sinking fund payments with respect to these bonds, the purchase or redemption of
13these bonds, the payment of interest on these bonds or the payment of any
14redemption premium required to be paid when these bonds are redeemed prior to
15maturity. If moneys in a special debt service reserve fund at any time are less than
16the special debt service reserve fund requirement under sub. (5) for the special debt
17service reserve fund, the district may not use these moneys for any optional purchase
18or optional redemption of the bonds. Any income or interest earned by, or increment
19to, any special debt service reserve fund due to the investment of moneys in the
20special debt service reserve fund may be transferred by the district to other funds or
21accounts of the district to the extent that the transfer does not reduce the amount of
22the special debt service reserve fund below the special debt service reserve fund
23requirement under sub. (5) for the special debt service reserve fund.
AB892-SSA1,50,6
24(4) Limitation on bonds secured by a special debt service reserve fund. A
25district shall accumulate in each special debt service reserve fund an amount equal
1to the special debt service reserve fund requirement under sub. (5) for the special
2debt service reserve fund. A district may not at any time issue bonds secured in whole
3or in part by a special debt service reserve fund if upon the issuance of these bonds
4the amount in the special debt service reserve fund will be less than the special debt
5service reserve fund requirement under sub. (5) for the special debt service reserve
6fund.
AB892-SSA1,50,23
7(5) Special debt service reserve fund requirement. The special debt service
8reserve fund requirement for a special debt service reserve fund, as of any particular
9date of computation, is equal to an amount of money, as provided in the bond
10resolution authorizing the bonds with respect to which the special debt service
11reserve fund is established, that may not exceed the maximum annual debt service
12on the bonds of the district for the fiscal year in which the computation is made or
13any future fiscal year of the district secured in whole or in part by that special debt
14service reserve fund. In computing the annual debt service for any fiscal year, bonds
15deemed to have been paid in accordance with the defeasance provisions of the bond
16resolution authorizing the issuance of the bonds shall not be included in bonds
17outstanding on the date of computation. The annual debt service for any fiscal year
18is the amount of money equal to the aggregate of all of the following calculated on the
19assumption that the bonds will, after the date of computation, cease to be
20outstanding by reason, but only by reason, of the payment of bonds when due, and
21the payment when due, and application in accordance with the bond resolution
22authorizing those bonds, of all of the sinking fund payments payable at or after the
23date of computation:
AB892-SSA1,51,3
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.
AB892-SSA1,51,64
(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.
AB892-SSA1,51,107
(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.
AB892-SSA1,51,14
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.
AB892-SSA1,52,4
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 the county in the district the amount
20necessary to restore the special debt service reserve fund to an amount equal to the
21special debt service reserve fund requirement under sub. (5) for the special debt
22service 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.
AB892-SSA1,52,8
5(8) Information to joint committee on finance. The district shall provide to
6the cochairpersons of the joint committee on finance information concerning the
7district's projected cashflows and security features underlying each issuance of
8bonds under this subchapter.
AB892-SSA1,52,15
9229.831 Bonds not public debt. (1) The state and the county and
10municipalities located wholly or partly within the district's jurisdiction are not liable
11on bonds and the bonds are not a debt of the state or the county or any municipality
12located wholly or partly within the district. All bonds shall contain a statement to
13this effect on the face of the bond. A bond issue does not, directly or indirectly or
14contingently, obligate the state or a political subdivision of the state to levy any tax
15or make any appropriation for payment of the bonds.
AB892-SSA1,53,2
16(2) Nothing in this subchapter authorizes a district to create a debt of the state
17or the county or any municipality located wholly or partly within the district's
18jurisdiction, and all bonds issued by a district are payable, and shall state that they
19are payable, solely from the funds pledged for their payment in accordance with the
20bond resolution authorizing their issuance or in any trust indenture or mortgage or
21deed of trust executed as security for the bonds. Neither the state nor the county or
22any such municipality is liable for the payment of the principal of or interest on a
23bond or for the performance of any pledge, mortgage, obligation or agreement that
24may be undertaken by a district. The breach of any pledge, mortgage, obligation or
25agreement undertaken by a district does not impose pecuniary liability upon the
1state or the county or any such municipality in the district's jurisdiction or a charge
2upon its general credit or against its taxing power.
AB892-SSA1,53,8
3(3) Bonds issued by the district may be secured only by the district's interest
4in any football stadium facilities, by income from these facilities, by proceeds of bonds
5issued by the district and by other amounts placed in a special redemption fund and
6investment earnings on such amounts, including any taxes imposed by the district
7under subch. V of ch. 77. The district may not pledge its full faith and credit on the
8bonds and the bonds are not a general obligation liability of the district.
AB892-SSA1,53,15
9229.832 State pledge. The state pledges to and agrees with the bondholders,
10and persons that enter into contracts with a district under this subchapter, that the
11state will not limit or alter the rights and powers vested in a district by this
12subchapter, including the rights and powers under s. 229.824 (15), before the district
13has fully met and discharged the bonds, and any interest due on the bonds, and has
14fully performed its contracts, unless adequate provision is made by law for the
15protection of the bondholders or those entering into contracts with a district.
AB892-SSA1,53,22
16229.833 Trust funds. All moneys received under this subchapter, whether as
17proceeds from the sale of bonds or from any other source, are trust funds to be held
18and applied solely as provided in this subchapter. Any officer with whom, or any
19bank or trust company with which, those moneys are deposited shall act as trustee
20of those moneys and shall hold and apply the moneys for the purposes of this
21subchapter, subject to this subchapter and the bond resolution authorizing issuance
22of the bonds.
AB892-SSA1,54,5
23229.834 Budgets; rates and charges; audit. A district shall adopt a
24calendar year as its fiscal year for accounting purposes. The district board shall
25annually prepare a budget for the district. Rates and other charges received by the
1district shall be used for the general expenses and capital expenditures of the district
2and to pay interest, amortization, and retirement charges on bonds. A district shall
3maintain an accounting system in accordance with generally accepted accounting
4principles and shall have its financial statements and debt covenants audited
5annually by an independent certified public accountant.
AB892-SSA1, s. 63
6Section
63. 341.14 (6r) (b) 1. of the statutes is amended to read:
AB892-SSA1,54,187
341.14
(6r) (b) 1. Upon application to register an automobile, station wagon or
8motor home, or a motor truck, dual purpose motor home or dual purpose farm truck
9which has a gross weight of not more than 8,000 pounds, or a farm truck which has
10a gross weight of not more than 12,000 pounds, by any person who is a resident of
11this state and a member of an authorized special group, the department shall issue
12to the person special plates whose colors and design shall indicate that the vehicle
13is owned by a person who is a member of the applicable special group.
The
14department may not issue any special group plates under par. (f) 55. until 6 months
15after the department has received information sufficient for the department to
16determine that any approvals required for use of any logo, trademark, trade name
17or other commercial symbol designating the professional football team have been
18obtained.
AB892-SSA1, s. 64
19Section
64. 341.14 (6r) (b) 3. of the statutes, as affected by 1999 Wisconsin Act
20.... (Senate Bill 381), is amended to read:
AB892-SSA1,55,721
341.14
(6r) (b) 3. An additional fee of $15 shall be charged for the issuance or
22reissuance of a plate issued on an annual basis for a special group specified under
23par. (f) 35. to 47., 53.
or, 54.
or 55. or designated by the department under par. (fm).
24An additional fee of $15 shall be charged for the issuance or reissuance of a plate
25issued on a biennial basis for a special group specified under par. (f) 35. to 47., 53.
or,
154.
or 55. or designated by the department under par. (fm) if the plate is issued during
2the first year of the biennial registration period or $15 for the issuance or reissuance
3if the plate is issued during the 2nd year of the biennial registration period. The
4department shall deposit in the general fund and credit to the appropriation account
5under s. 20.395 (5) (cj) all fees collected under this subdivision for the issuance or
6reissuance of a plate for a special group designated by the department under par.
7(fm).
AB892-SSA1, s. 65
8Section
65. 341.14 (6r) (b) 8. of the statutes is created to read:
AB892-SSA1,55,209
341.14
(6r) (b) 8. An additional fee of $25 that is in addition to the fee under
10subd. 3. shall be charged for the issuance or renewal of a plate issued on an annual
11basis for the special group specified under par. (f) 55. An additional fee of $50 that
12is in addition to the fee under subd. 3. shall be charged for the issuance or renewal
13of a plate issued on the biennial basis for the special group specified under par. (f) 55.
14if the plate is issued or renewed during the first year of the biennial registration
15period or $25 for the issuance or renewal if the plate is issued or renewed during the
162nd year of the biennial registration period. For each professional football team for
17which plates are produced under par. (f) 55., all moneys received under this
18subdivision in excess of the initial costs of data processing for the special group plate
19related to that team under par. (f) 55. or $35,000, whichever is less, shall be deposited
20in the general fund and credited as follows:
AB892-SSA1,55,2221
a. An amount equal to the costs of licensing fees under par. (h) that are related
22to that team shall be credited to the appropriation account under s. 20.395 (5) (cL).
AB892-SSA1,56,223
b. The remainder after crediting the appropriation account as provided in subd.
248. a. shall be credited to the appropriation account under s. 20.395 (1) (ig). The
25department of transportation shall identify and record the percentage of moneys
1that are attributable to each professional football team represented by a plate under
2par. (f) 55.
AB892-SSA1,56,175
341.14
(6r) (c) Special group plates shall display the word "Wisconsin", the
6name of the applicable authorized special group, a symbol representing the special
7group, not exceeding one position, and identifying letters or numbers or both, not
8exceeding 6 positions and not less than one position. The department shall specify
9the design for special group plates, but the department shall consult the president
10of the University of Wisconsin System before specifying the word or symbol used to
11identify the special groups under par. (f) 35. to 47., the secretary of natural resources
12before specifying the word or symbol used to identify for the special group under par.
13(f) 50. and the chief executive officer of the professional football team and an
14authorized representative of the league of professional football teams described in
15s. 229.823 to which that team belongs before specifying the design for the applicable
16special group plate under par. (f) 55. Special group plates under par. (f) 50. shall be
17as similar as possible to regular registration plates in color and design.
AB892-SSA1,57,620
341.14
(6r) (e) The department shall specify one combination of colors for
21special group plates for groups or organizations which are not military in nature and
22not special group plates under par. (f) 35. to 47. and 50.
and for each professional
23football team under par. (f) 55. The department shall specify one combination of
24colors for special group plates under par. (f) 35. to 47. The department shall specify
25the word or words comprising the special group name and the symbol to be displayed
1upon special group plates for a group or organization which is not military in nature
2after consultation with the chief executive officer in this state of the group or
3organization. The department shall require that the word or words and symbol for
4a university specified under par. (f) 35. to 47. be a registration decal or tag and affixed
5to the special group plate and be of the colors for a university specified under par. (f)
635. to 47. that the president of the University of Wisconsin System specifies.
AB892-SSA1, s. 68
7Section
68. 341.14 (6r) (f) 55. of the statutes is created to read:
AB892-SSA1,57,108
341.14
(6r) (f) 55. Persons interested in expressing their support of a
9professional football team, as described in s. 229.823, whose home stadium, as
10defined in s. 229.821 (8), is in this state.
AB892-SSA1, s. 69
11Section
69. 341.14 (6r) (fm) 7. of the statutes, as affected by 1999 Wisconsin
12Act .... (Senate Bill 381), is amended to read:
AB892-SSA1,57,1913
341.14
(6r) (fm) 7.
After Except for the authorized special group enumerated
14under par. (f) 55., after October 1, 1998, additional authorized special groups may
15only be special groups designated by the department under this paragraph. The
16authorized special groups enumerated in par. (f) shall be limited solely to those
17special groups specified under par. (f) on October 1, 1998
, except for the authorized
18special group enumerated under par. (f) 55. This subdivision does not apply to the
19special group specified under par. (f) 54.
AB892-SSA1,57,2321
341.14
(6r) (h) From the appropriation under s. 20.395 (5) (cL), the department
22shall pay reasonable licensing fees relating to the word or words or the symbol on
23special group plates under par. (f) 55.
AB892-SSA1, s. 71
24Section
71. 779.14 (1m) (d) 2. b. of the statutes is amended to read:
AB892-SSA1,58,12
1779.14
(1m) (d) 2. b.
The
Except as provided in sub. (4), the contract shall
2require the prime contractor to provide a payment and performance bond meeting
3the requirements of par. (e), unless the public body authorized to enter into the
4contract allows the prime contractor to substitute a different payment assurance for
5the payment and performance bond. The public body may allow a prime contractor
6to substitute a different payment and performance assurance for the payment and
7performance bond only if the substituted payment and performance assurance is for
8an amount at least equal to the contract price and is in the form of a bond, an
9irrevocable letter of credit or an escrow account acceptable to the public body. The
10public body shall establish written standards under this subd. 2. b. governing when
11a different payment and performance assurance may be substituted for a payment
12and performance bond under par. (e).
AB892-SSA1, s. 72
13Section
72. 779.14 (1m) (d) 3. of the statutes is amended to read:
AB892-SSA1,58,1714
779.14
(1m) (d) 3.
In Except as provided in sub. (4), in the case of a contract with
15a contract price exceeding $100,000, as indexed under sub. (1s), the contract shall
16require the prime contractor to obtain a payment and performance bond meeting the
17requirements under par. (e).
AB892-SSA1,58,2219
779.14
(4) Bonding exemption. A contract with a local professional football
20stadium district under subch. IV of ch. 229 is not required under sub. (1m) (d) 2. b.
21or 3. to include a provision requiring the prime contractor to provide or obtain a
22payment and performance bond or other payment assurance.
AB892-SSA1,59,13
24946.15 Public construction contracts at less than full rate. (1) Any
25employer, or any agent or employe of an employer, who induces any person who seeks
1to be or is employed pursuant to a public contract as defined in s. 66.29 (1) (c) or who
2seeks to be or is employed on a project on which a prevailing wage rate determination
3has been issued by the department of workforce development under s. 66.293 (3),
4103.49 (3)
or, 103.50 (3)
or 229.8275 (3) or by a local governmental unit, as defined
5in s. 66.293 (1) (d), under s. 66.293 (6) to give up, waive or return any part of the
6compensation to which that person is entitled under his or her contract of
7employment or under the prevailing wage rate determination issued by the
8department or local governmental unit, or who reduces the hourly basic rate of pay
9normally paid to an employe for work on a project on which a prevailing wage rate
10determination has not been issued under s. 66.293 (3) or (6), 103.49 (3)
or, 103.50 (3)
11or 229.8275 (3) during a week in which the employe works both on a project on which
12a prevailing wage rate determination has been issued and on a project on which a
13prevailing wage rate determination has not been issued, is guilty of a Class E felony.
AB892-SSA1,60,2
14(2) Any person employed pursuant to a public contract as defined in s. 66.29
15(1) (c) or employed on a project on which a prevailing wage rate determination has
16been issued by the department of workforce development under s. 66.293 (3), 103.49
17(3)
or, 103.50 (3)
or 229.8275 (3) or by a local governmental unit, as defined in s.
1866.293 (1) (d), under s. 66.293 (6) who gives up, waives or returns to the employer or
19agent of the employer any part of the compensation to which the employe is entitled
20under his or her contract of employment or under the prevailing wage determination
21issued by the department or local governmental unit, or who gives up any part of the
22compensation to which he or she is normally entitled for work on a project on which
23a prevailing wage rate determination has not been issued under s. 66.293 (3) or (6),
24103.49 (3)
or, 103.50 (3)
or 229.8275 (3) during a week in which the person works
25part-time on a project on which a prevailing wage rate determination has been
1issued and part-time on a project on which a prevailing wage rate determination has
2not been issued, is guilty of a Class C misdemeanor.
AB892-SSA1,60,12
3(3) Any employer or labor organization, or any agent or employe of an employer
4or labor organization, who induces any person who seeks to be or is employed on a
5project on which a prevailing wage rate determination has been issued by the
6department of workforce development under s. 66.293 (3), 103.49 (3)
or, 103.50 (3)
7or 229.8275 (3) or by a local governmental unit, as defined in s. 66.293 (1) (d), under
8s. 66.293 (6) to permit any part of the wages to which that person is entitled under
9the prevailing wage rate determination issued by the department or local
10governmental unit to be deducted from the person's pay is guilty of a Class E felony,
11unless the deduction would be permitted under
29 CFR 3.5 or
3.6 from a person who
12is working on a project that is subject to
40 USC 276c.
AB892-SSA1,60,21
13(4) Any person employed on a project on which a prevailing wage rate
14determination has been issued by the department of workforce development under
15s. 66.293 (3), 103.49 (3)
or, 103.50 (3)
or 229.8275 (3) or by a local governmental unit,
16as defined in s. 66.293 (1) (d), under s. 66.293 (6) who permits any part of the wages
17to which that person is entitled under the prevailing wage rate determination issued
18by the department or local governmental unit to be deducted from his or her pay is
19guilty of a Class C misdemeanor, unless the deduction would be permitted under
29
20CFR 3.5 or
3.6 from a person who is working on a project that is subject to
40 USC
21276c.
AB892-SSA1,60,2323
(1)
Taxation.
AB892-SSA1,61,3
1(a)
The treatment of sections 71.05 (1) (c) 5., 71.26 (1) (bm) and (1m) (g), 71.36
2(1m) and 71.45 (1t) (g) of the statutes first applies to taxable years beginning on
3January 1, 2000.
AB892-SSA1,61,54
(b)
The treatment of section 71.10 (5e) of the statutes first applies to taxable
5years beginning on January 1, 2001
AB892-SSA1,61,86
(2)
Property tax. The renumbering and amendment of section 70.11 (36) of the
7statutes and the creation of section 70.11 (36) (b) of the statutes first apply to the
8property tax assessments as of January 1, 2001.
AB892-SSA1,61,179
(3)
Prevailing wage. The treatment of sections 103.49 (3) (ar), 109.09 (1),
10111.322 (2m) (c), 227.01 (13) (t), 229.8275 and 946.15 of the statutes first applies to
11a contract under section 229.827 of the statutes, as created by this act, between a
12local professional football stadium district and a professional football team, as
13described in section 229.823 of the statutes, as created by this act, or a related party,
14as defined in section 229.821 (12) of the statutes, as created by this act, that requires
15the team or related party to acquire and construct football stadium facilities that are
16part of any facilities that are leased by the district to the team or to a related party
17entered, or extended, modified or renewed, on the effective date of this subsection.
AB892-SSA1, s. 76
18Section
76.
Effective dates. This act takes effect on the day after publication,
19except as follows:
AB892-SSA1,61,2120
(1)
The treatment of section 77.54 (45) of the statutes takes effect on the first
21day of the 2nd month beginning after publication.