Joint Finance/Legislature: Include provision with the following minor adjustments: (a) modify the remaining statutory references to revenue bonds or revenue obligation bonds to refer instead to revenue obligations; (b) include references to the special fund obligations created under the bill in certain statutes relating to refunding obligations and the undertakings of the state with respect to the obligations; (c) delete the statutory enumeration of examples of provisions that are to be included in the authorizing resolution for enterprise and special fund obligations and adjust the cross-references to this enumeration to refer instead to the authorizing resolution itself
[Act 9 Sections: 3j, 122 thru 159m, 994, 1825 , 1855 and 2510]
3. REVENUE OBLIGATIONS FOR PECFA
Governor: Authorize the Building Commission to issue revenue obligations, to be paid from petroleum inspection fees deposited in the petroleum inspection fund. The proceeds of the obligations would be used to fund the payment of claims under the Petroleum Environmental Cleanup Fund Award (PECFA) program. Revenue obligations could not exceed $450,000,000 in principal amount. In addition to this $450,000,000 amount, the Building Commission could issue revenue obligations to fund or refund outstanding revenue obligations, to pay issuance or administrative expenses, to make deposits to reserve funds or to pay accrued or capitalized interest. The Commission would be authorized to issue these obligations when it reasonably appears to the Commission that the obligations can be fully paid on a timely basis from monies received or anticipated to be received.
Specify that the revenue obligations would be special fund obligations, which is a type of revenue obligation created under the bill. For purposes of this debt issuance, designate the PECFA program as a special fund program and specify that the petroleum inspection fund would be a special fund. Create a legislative finding that a nexus exists between the PECFA program and the petroleum inspection fund in that fees imposed on users of petroleum are used to remedy environmental damage caused by petroleum storage. Specify that deposits, appropriations or transfers to the petroleum inspection fund for the PECFA program may be funded with the proceeds of revenue obligations. Unless expressly provided in the authorizing resolution or in other agreements with the owners of the revenue obligations, each issue of revenue obligations for the PECFA program would be on a parity with any other revenue obligations and issued in accordance with the revenue obligations requirements outlined in the statutes, including those provisions created under the bill.
Establish a moral obligation pledge whereby the Legislature would express its expectation and aspiration that, if the Legislature reduces the rate of the petroleum inspection fee and if the funds in the petroleum inspection fund are insufficient to pay the principal and interest on the revenue obligations, the Legislature would make an appropriation from the general fund sufficient to pay the principal and interest on the revenue obligations.
Joint Finance/Legislature: Delete $180 million of revenue obligation authority so that a net amount of $270 million would be authorized. See "Commerce -- Building and Environmental Regulation" for more information relating to this provision.
[Act 9 Section: 1994]
Chg. to Base
BR - $1,070,000
4. BUILDING COMMISSION RESIDUAL BONDING [LFB Paper 255]
Joint Finance/Legislature: Decrease existing bonding authorized to refund debt issued by the old Building Corporations by $1,070,000.
[Act 9 Section: 638b]
BUILDING PROGRAM
Budget Change Items
1. 1999-01 ENUMERATED PROJECTS [LFB Papers 247, 248, 249, 250, 252, 253, 254 and 391]
Building Commission: Provide $755,485,100 from all funding sources of enumerated 1999-01 financing authority for: (a) specific enumerated projects ($465,432,600); and (b) all agency projects ($290,052,500).
Specify that funding for these projects be drawn from the following sources: (a) $573,727,900 from new general obligation bonding authority; (b) $81,273,000 from general obligation bonding authority that is currently authorized; (c) $10,148,100 of new revenue bonding authority; (d) $10,400,500 from agency operating funds; (e) $33,824,600 from federal funds; and (f) $46,111,000 from agency gifts, grants and other receipts.
Joint Finance: Make the following modifications to the Building Commission recommendations: (a) delete $15,000,000 in general fund supported bonding associated with the proposed Wisbuild Initiative; (b) delete $3,700,000 in program revenue supported bonding associated with the deletion of the production bakery project under the Department of Corrections; (c) delete $850,000 in program revenue supported borrowing associated with the deletion of restroom improvement projects at State Fair Park and transfer $1,000,000 of bonding from PR supported to GPR supported borrowing; (d) delete the enumeration of the Milwaukee Lakeshore State park development project recommended to be funded with $1,000,000 in existing general obligation stewardship bonding; (e) delete the $5,307,000 in self amortizing general obligation bonding and provide an additional $6,756,700 in general fund supported bonding and $1,106,400 in gifts and grants to the Educational Communications Board associated with the conversion to digital television projects; (f) provide $3,500,000 in general fund supported borrowing and $350,000 in gifts and grants to Milwaukee Area Technical College for conversion to digital television projects; and (g) provide $2,800,000 in general fund supported bonding and $280,000 in gifts and grants to the UW-system for conversion to digital television projects.
Further, specify that $57,527,000 in general fund supported general obligation bonding be provided under the current law bonding appropriations established for the agency for which the project is being completed rather than under the Wisbuild Initiative -- "major building renovation," as recommended by the Building Commission. In addition, separately enumerate $375,000 of related federal funding. Further, increase Wisbuild segregated revenue supported borrowing associated with DNR-Hayward Office facility project by $174,400 and make a corresponding reduction in Wisbuild funding from agency operating funds. The Wisbuild Initiative project authority would be as follows: (a) $64,923,000 in new general fund supported general obligation bonding; (2) $33,780,000 in new program revenue supported general obligation bonding; (3) $1,673,400 in new, segregated revenue supported general obligation bonding; (4) $1,726,600 in new segregated revenue obligation authority; (5) $4,515,400 in existing general obligation bonding; (6) $1,254,400 in agency operating funds; and (7) $305,800 in federal funding.
Further, enumerate the projects recommended under the Wisbuild Initiative – "major building renovation" category in the 1999-01 state building program under the specific agencies involved, and delete them from the Wisbuild category. This would establish additional project enumerations for 10 major renovation projects.
Conference Committee/Legislature: Make the following modifications to the 1999-01 Building Program: (a) provide $1,000,000 in general fund supported borrowing, $1,000,000 in agency operating funds and $4,000,000 in gifts and grants for the construction of a Swiss Cultural Center in New Glarus; (b) provide $1,000,000 in general fund supported borrowing and $4,074,000 in gifts and grants for the construction of a Milwaukee Police Athletic League youth activities center; (c) provide $2,000,000 in existing general obligation bonding, $5,000,000 in agency operating funds and $2,000,000 in federal funds for the Milwaukee Lakeshore Park development project; (d) delete $9,409,700 in general fund supported borrowing, $1,350,000 in federal funding and $1,106,400 in gifts and grants for Educational Communications Board conversion to digital television projects; (e) delete $3,500,000 in general fund supported borrowing and $350,000 in gifts and grants for Milwaukee Area Technical College for conversion to digital television projects; and (f) delete $2,800,000 in general fund supported bonding and $280,000 in gifts and grants for UW-system conversion to digital television projects.
The funding source for the 1999-01 enumerated project authority by agency as recommended by the Building Commission, Joint Committee on Finance and the Conference Committee/Legislature are shown in Table 1 which follows. A listing of individual major agency projects, as recommended by the Building Commission, Joint Finance Committee and Conference Committee/Legislature are provided in Table 2.
[LRBb0044/1 Section: 51 as it relates to 9107(1)]
TABLE 1
Financing Sources for the 1999-01 Enumerated Projects
Building Commission
Existing
General Agency Gifts,
New General Obligation Bonds Revenue Obligation Operating Grants,
GPR PR SEG Bonds Bonds Funds and Other Federal Total
Administration $0 $37,200,000 $0 $0 $4,800,000 $0 $0 $0 $42,000,000
Corrections 109,092,900 3,700,000 0 0 0 0 0 7,700,000 120,492,900
ECB 2,957,000 5,307,000 0 0 161,000 0 0 1,350,000 9,775,000
DHFS 8,890,000 0 0 0 31,560,000 0 0 0 40,450,000
Military Affairs 740,400 0 0 0 0 0 0 2,706,000 3,446,400
Natural Resources 2,937,500 0 5,862,500 0 1,830,700 1,315,300 0 562,800 12,508,800
State Fair Park 887,100 18,787,100 0 0 0 0 0 0 19,674,200
Transportation 0 0 0 7,574,200 0 0 0 0 7,574,200
Veterans Affairs 0 13,909,100 0 0 402,500 0 0 18,873,700 33,185,300
UW System 23,116,000 57,737,800 0 0 30,910,000 3,451,000 31,111,000 0 146,325,800
Marquette University 15,000,000 0 0 0 0 0 15,000,000 0 30,000,000
Subtotal $163,620,900 $136,641,000 $5,862,500 $7,574,200 $69,664,200 $4,766,300 $46,111,000 $31,192,500 $465,432,600
All Agency
WisBuild Initiative $137,450,000 $33,780,000 $1,499,000 $1,726,600 $4,515,400 $1,428,800 $0 $680,800 $181,080,600
Utilities Repair/Renov. 41,713,500 4,699,000 0 847,300 6,843,400 4,205,400 0 816,300 59,124,900
Health, Safety and
Environmental Protect. 25,667,000 695,000 0 0 250,000 0 0 1,135,000 27,747,000
Preventative Maintenance 5,000,000 0 0 0 0 0 0 0 5,000,000
Capital Acquisition 7,100,000 5,400,000 0 0 0 0 0 0 12,500,000
Land/ Property Acquis. 0 4,600,000 0 0 0 0 0 0 4,600,000
Subtotal $216,930,500 $49,174,000 $1,499,000 $2,573,900 $11,608,800 $5,634,200 $0 $2,632,100 $290,052,500
TOTAL $380,551,400 $185,815,000 $7,361,500 $10,148,100 $81,273,000 $10,400,500 $46,111,000 $33,824,600 $755,485,100
Joint Committee on Finance
Administration $0 $37,200,000 $0 $0 $4,800,000 $0 $0 $0 $42,000,000
Corrections 120,251,200 0 0 0 0 0 0 7,700,000 127,951,200
ECB* 9,713,700 0 0 0 161,000 0 1,106,400 1,350,000 12,331,100
Milw. Area Tech. College 3,500,000 0 0 0 0 0 350,000 0 3,850,000
DHFS 9,600,200 0 0 0 31,560,000 0 0 0 41,160,200
Military Affairs 865,400 0 0 0 0 0 0 3,081,000 3,946,400
Natural Resources 2,937,500 0 5,862,500 0 830,700 1,315,300 0 562,800 11,508,800
State Fair Park 1,887,100 16,937,100 0 0 0 0 0 0 18,824,200
Transportation 0 0 0 7,574,200 0 0 0 0 7,574,200
Veterans Affairs 0 13,909,100 0 0 402,500 0 0 18,873,700 33,185,300
UW System 71,449,500 57,737,800 0 0 30,910,000 3,451,000 31,391,000 0 194,939,300
Marquette University 15,000,000 0 0 0 0 0 15,000,000 0 30,000,000
Subtotal $235,204,600 $125,784,000 $5,862,500 $7,574,200 $68,664,200 $4,766,300 $47,847,400 $31,567,500 $527,270,700
All Agency
WisBuild Initiative $64,923,000 $33,780,000 $1,673,400 $1,726,600 $4,515,400 $1,254,400 $0 $305,800 $108,178,600
Utilities Repair/Renov. 41,713,500 4,699,000 0 847,300 6,843,400 4,205,400 0 816,300 59,124,900
