AB75: Bill Text

AB75,750,25 (7) Bonds; generally. (a) An authority may issue bonds, the principal and interest on which are payable exclusively from all or a portion of any revenues received by the authority. The authority may secure its bonds by a pledge of any income or revenues from any operations, rent, aids, grants, subsidies, contributions, or other source of moneys whatsoever.

AB75,751,2 (b) An authority may issue bonds in such principal amounts as the authority deems necessary.

AB75,751,5 (c) 1. Neither the members of the board of directors of an authority nor any person executing the bonds is personally liable on the bonds by reason of the issuance of the bonds.

AB75,751,10 2. The bonds of an authority are not a debt of the participating political subdivisions. Neither the participating political subdivisions nor the state are liable for the payment of the bonds. The bonds of any authority shall be payable only out of funds or properties of the authority. The bonds of the authority shall state the restrictions contained in this paragraph on the face of the bonds.

AB75,751,21 (8) Issuance of bonds. (a) Bonds of an authority shall be authorized by resolution of the board of directors. The bonds may be issued under such a resolution or under a trust indenture or other security instrument. The bonds may be issued in one or more series and may be in the form of coupon bonds or registered bonds under s. 67.09. The bonds shall bear the dates, mature at the times, bear interest at the rates, be in the denominations, have the rank or priority, be executed in the manner, be payable in the medium of payment and at the places, and be subject to the terms of redemption, with or without premium, as the resolution, trust indenture, or other security instrument provides. Bonds of an authority are issued for an essential public and governmental purpose and are public instrumentalities and, together with interest and income, are exempt from taxes.

AB75,751,23 (b) The authority may sell the bonds at public or private sales at the price or prices determined by the authority.

AB75,752,2 (c) If an officer whose signatures appear on any bonds or coupons ceases to be an officer of the authority before the delivery of the bonds or coupons, the officer's signature shall, nevertheless, be valid for all purposes as if the officer had remained in office until delivery of the bonds or coupons.

AB75,752,4 (9) Covenants. An authority may do all of the following in connection with the issuance of bonds:

AB75,752,5 (a) Covenant as to the use of any or all of its property, real or personal.

AB75,752,7 (b) Redeem the bonds, or covenant for the redemption of the bonds, and provide the terms and conditions of the redemption.

AB75,752,14 (c) Covenant as to charge fees, rates, rents, and charges sufficient to meet operating and maintenance expenses, renewals, and replacements of any transportation system, principal and debt service on bonds creation and maintenance of any reserves required by a bond resolution, trust indenture, or other security instrument and to provide for any margins or coverages over and above debt service on the bonds that the board of directors considers desirable for the marketability of the bonds.

AB75,752,19 (d) Covenant as to the events of default on the bonds and the terms and conditions upon which the bonds shall become or may be declared due before maturity, as to the terms and conditions upon which this declaration and its consequences may be waived, and as to the consequences of default and the remedies of bondholders.

AB75,752,22 (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 of the authority to secure the payment of bonds, subject to any agreements with the bondholders.

AB75,752,25 (f) Covenant as to the custody, collection, securing, investment, and payment of any revenues, assets, moneys, funds, or property with respect to which the authority may have any rights or interest.

AB75,753,3 (g) Covenant as to the purposes to which the proceeds from the sale of any bonds may be applied, and as to the pledge of such proceeds to secure the payment of the bonds.

AB75,753,6 (h) Covenant as to limitations on the issuance of any additional bonds, the terms upon which additional bonds may be issued and secured, and the refunding of outstanding bonds.

AB75,753,8 (i) Covenant as to the rank or priority of any bonds with respect to any lien or security.

AB75,753,12 (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, and the manner in which such consent may be given.

AB75,753,15 (k) Covenant as to the custody and safekeeping of any of its properties or investments, the insurance to be carried on the property or investments, and the use and disposition of insurance proceeds.

AB75,753,18 (L) Covenant as to the vesting in one or more trustees, within or outside the state, of those properties, rights, powers, and duties in trust as the authority determines.

AB75,753,21 (m) Covenant as to the appointing of, and providing for the duties and obligations of, one or more paying agent or other fiduciaries within or outside the state.

AB75,753,24 (n) Make all other covenants and do any act that may be necessary or convenient or desirable in order to secure its bonds or, in the absolute discretion of the authority, tend to make the bonds more marketable.

AB75,754,4 (o) Execute all instruments necessary or convenient in the exercise of the powers granted under this section or in the performance of covenants or duties, which may contain such covenants and provisions as a purchaser of the bonds of the authority may reasonably require.

AB75,754,16 (10) Refunding bonds. An authority may issue refunding bonds for the purpose of paying any of its bonds at or prior to maturity or upon acceleration or redemption. An authority may issue refunding bonds at such time prior to the maturity or redemption of the refunded bonds as the authority 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 on the bonds, any interest accrued or to accrue to the date of payment of the bonds, the expenses of issue of the refunding bonds, the expenses of redeeming the bonds being refunded, and such reserves for debt service or other capital or current expenses from the proceeds of such refunding bonds as may be required by the resolution, trust indenture, or other security instruments. To the extent applicable, refunding bonds are subject to subs. (8) and (9).

AB75,754,18 (11) Bonds eligible for investment. (a) Any of the following may invest funds, including capital in their control or belonging to them, in bonds of the authority:

AB75,754,19 1. Public officers and agencies of the state.

AB75,754,20 2. Local governmental units, as defined in s. 19.42 (7u).

AB75,754,21 3. Insurance companies.

AB75,754,22 4. Trust companies.

AB75,754,23 5. Banks.

AB75,754,24 6. Savings banks.

AB75,754,25 7. Savings and loan associations.

AB75,755,1 8. Investment companies.

AB75,755,2 9. Personal representatives.

AB75,755,3 10. Trustees.

AB75,755,4 11. Other fiduciaries not listed in this paragraph.

AB75,755,8 (b) The authority's bonds are securities that may be deposited with and received by any officer or agency of the state or any local governmental unit, as defined in s. 19.42 (7u), for any purpose for which the deposit of bonds or obligations of the state or any local governmental unit is authorized by law.

AB75,755,16 (12) Budgets; rates and charges; audit. The board of directors of an authority shall annually prepare a budget for the authority. Rates and other charges received by the authority shall be used only for the general expenses and capital expenditures of the authority, to pay interest, amortization, and retirement charges on bonds, and for specific purposes of the authority and may not be transferred to any political subdivision. The authority shall maintain an accounting system in accordance with generally accepted accounting principles and shall have its financial statements and debt covenants audited annually by an independent certified public accountant.

AB75,755,19 (13) Withdrawal from authority. (a) A participating political subdivision that joined an authority under sub. (2) (a) 1., 2., 4., or 5., (b) 3., or (c) 2. may withdraw from an authority if all of the following conditions are met:

AB75,755,21 1. The governing body of the political subdivision adopts a resolution requesting withdrawal of the political subdivision from the authority.

AB75,755,23 2. The political subdivision has paid, or made provision for the payment of, all obligations of the political subdivision to the authority.

AB75,756,3 (b) A municipality that becomes a member of an authority under sub. (2) (a) 3. shall withdraw from the authority if the county in which the municipality is located withdraws from the authority under par. (a).

AB75,756,5 (14) Duty to provide transit service. An authority shall provide, or contract for the provision of, transit service within the authority's jurisdictional area.

AB75,756,11 (16) Required application of the southeast regional transit authority. No later than one year after its creation under sub. (2) (a) 1., the southeast regional transit authority shall submit to the federal transit administration in the U.S. department of transportation an application to enter the preliminary engineering phase of the federal new starts grant program for the Kenosha-Racine-Milwaukee commuter rail link.

AB75,756,16 (17) Other statutes. This section does not limit the powers of political subdivisions to enter into intergovernmental cooperation or contracts or to establish separate legal entities under s. 66.0301 or 66.1021 or any other applicable law, or otherwise to carry out their powers under applicable statutory provisions. Section 66.0803 (2) does not apply to an authority.

AB75, s. 1489 Section 1489. 66.1105 (6) (ae) of the statutes is created to read:

AB75,756,21 66.1105 (6) (ae) With regard to each district for which the department of revenue authorizes the allocation of a tax increment under par. (a), the department shall charge the city that created the district an annual administrative fee of $150 that the city shall pay to the department no later than May 15.

AB75, s. 1490 Section 1490. 66.1106 (7) (am) of the statutes is created to read:

AB75,757,2 66.1106 (7) (am) With regard to each district for which the department authorizes the allocation of a tax increment under par. (a), the department shall charge the political subdivision that created the district an annual administrative fee of $150 that the political subdivision shall pay to the department no later than May 15.

AB75, s. 1491 Section 1491. 66.1113 (1) (a) of the statutes is amended to read:

AB75,757,11 66.1113 (1) (a) "Infrastructure expenses" means the costs of purchasing, constructing, or improving parking lots; access ways; transportation facilities, including roads and bridges; sewer and water facilities; exposition center facilities used primarily for conventions, expositions, trade shows, musical or dramatic events, or other events involving educational, cultural, recreational, sporting, or commercial activities; parks, boat ramps, beaches, and other recreational facilities; fire fighting equipment; police vehicles; ambulances; and other equipment or materials dedicated to public safety or public works.

AB75, s. 1492 Section 1492. 66.1305 (2) (a) 2. of the statutes is repealed and recreated to read:

AB75,757,15 66.1305 (2) (a) 2. "Technology-based incubator" means a facility that provides a new or expanding technically-oriented business with all of the following:

AB75,757,16 a. Office and laboratory space.

AB75,757,17 b. Shared clerical and other support service.

AB75,757,18 c. Managerial and technical assistance.

AB75, s. 1493 Section 1493. 66.1305 (2) (c) 3. of the statutes is repealed.

AB75, s. 1494 Section 1494. 66.1333 (2m) (d) 8. of the statutes is amended to read:

AB75,757,24 66.1333 (2m) (d) 8. Studying the feasibility of an initial design for a technology-based incubator, and developing and operating a technology-based incubator and applying for a grant under s. 560.14 (3) in connection with a technology-based incubator.

AB75, s. 1495 Section 1495. 66.1333 (2m) (t) of the statutes is repealed and recreated to read:

AB75,758,4 66.1333 (2m) (t) "Technology-based incubator" means a facility that provides a new or expanding technically-oriented business with all of the following:

AB75,758,5 1. Office and laboratory space.

AB75,758,6 2. Shared clerical and other support service.

AB75,758,7 3. Managerial and technical assistance.

AB75, s. 1496 Section 1496. 67.01 (5) of the statutes is amended to read:

AB75,758,16 67.01 (5) "Municipality" means any of the following which is authorized to levy a tax: a county, city, village, town, school district, board of park commissioners, technical college district, metropolitan sewerage district created under ss. 200.01 to 200.15 or 200.21 to 200.65, town sanitary district under subch. IX of ch. 60, transit authority created under s. 66.1039, public inland lake protection and rehabilitation district established under s. 33.23, 33.235, or 33.24 , and any other public body empowered to borrow money and issue obligations to repay the money out of public funds or revenues. "Municipality" does not include the state.

AB75, s. 1497 Section 1497. 67.01 (9) (intro.) of the statutes is amended to read:

AB75,758,20 67.01 (9) (intro.) This chapter is not applicable to appropriation bonds issued by a county under s. 59.85 or by a 1st class city under s. 62.62 and, except ss. 67.08 (1), 67.09 and 67.10, is not applicable:

AB75, s. 1498 Section 1498. 67.05 (5) (b) of the statutes is amended to read:

AB75,760,5 67.05 (5) (b) No city or village may issue bonds for any purposes other than for water systems, lighting works, gas works, bridges, street lighting, street improvements, street improvement funding, hospitals, airports, harbor improvements, river improvements, breakwaters and protection piers, sewerage, garbage disposal, rubbish or refuse disposal, any combination of sewage, garbage or refuse or rubbish disposal, parks and public grounds, swimming pools and band shells, veterans housing projects, paying the municipality's portion of the cost of abolishing grade crossings, for the construction of police facilities and combined fire and police safety buildings, for the purchase of sites for engine houses, for fire engines and other equipment of the fire department, for construction of engine houses, and for pumps, water mains, reservoirs and all other reasonable facilities for fire protection apparatus or equipment for fire protection, for parking lots or other parking facilities, for school purposes, for libraries, for buildings for the housing of machinery and equipment, for acquiring and developing sites for industry and commerce as will expand the municipal tax base, for financing the cost of low-interest mortgage loans under s. 62.237, for providing financial assistance to blight elimination, slum clearance, community development, redevelopment and urban renewal programs and projects under ss. 66.1105, 66.1301 to 66.1329 and 66.1331 to 66.1337, to issue appropriation bonds under s. 62.62 to pay unfunded prior service liability with respect to an employee retirement system, or for University of Wisconsin System college campuses, as defined in s. 36.05 (6m), until the proposition for their issue for the special purpose has been submitted to the electors of the city or village and adopted by a majority vote. Except as provided under sub. (15), if the common council of a city or the village board of a village declares its purpose to raise money by issuing bonds for any purpose other than those specified in this subsection, it shall direct by resolution, which shall be recorded at length in the record of its proceedings, the clerk to call a special election for the purpose of submitting the question of bonding to the city or village electors. If a number of electors of a city or village equal to at least 15% of the votes cast for governor at the last general election in their city or village sign and file a petition conforming to the requirements of s. 8.40 with the city or village clerk requesting submission of the resolution, the city or village may not issue bonds for financing the cost of low-interest mortgage loans under s. 62.237 without calling a special election to submit the question of bonding to the city or village electors for their approval.

AB75, s. 1499 Section 1499. 67.05 (6m) (a) of the statutes is amended to read:

AB75,760,25 67.05 (6m) (a) An initial resolution adopted by a technical college district board for an issue of bonds in an amount of money not exceeding $1,000,000 $1,500,000 for building remodeling or improvement need not be submitted to the electors of the district for approval unless within 30 days after the initial resolution is adopted there is filed with the technical college district secretary a petition conforming to the requirements of s. 8.40 requesting a referendum thereon. Such a petition shall be signed by electors from each county lying wholly or partially within the district. The number of electors from each county shall equal at least 1.5% of the population of the county as determined under s. 16.96 (2) (c). If a county lies in more than one district, the technical college system board shall apportion the county's population as determined under s. 16.96 (2) (c) to the districts involved and the petition shall be signed by electors equal to the appropriate percentage of the apportioned population. Any initial resolution adopted under sub. (1) in an amount of money not exceeding $1,000,000 $1,500,000 at the discretion of the district board, may be submitted to the electors without waiting for the filing of a petition. All initial resolutions adopted under sub. (1) in an amount of money in excess of $1,000,000 $1,500,000 or more for building remodeling or improvement shall be submitted to the electors of the district for approval. If a referendum is duly petitioned or required under this subsection, bonds may not be issued until the electors of the district have approved the issue.

AB75, s. 1500 Section 1500. 67.12 (12) (a) of the statutes is amended to read:

AB75,761,12 67.12 (12) (a) Any municipality may issue promissory notes as evidence of indebtedness for any public purpose, as defined in s. 67.04 (1) (b), including but not limited to paying any general and current municipal expense, and refunding any municipal obligations, including interest on them. Each note, plus interest if any, shall be repaid within 10 years after the original date of the note, except that notes issued under this section for purposes of ss. 119.498, 145.245 (12m), 281.58, 281.59, 281.60, 281.61, and 292.72 issued to raise funds to pay a portion of the capital costs of a metropolitan sewerage district, or issued by a 1st class city or a county having a population of 500,000 or more, to pay unfunded prior service liability with respect to an employee retirement system, shall be repaid within 20 years after the original date of the note.

AB75, s. 1501 Section 1501. 67.12 (12) (e) 5. of the statutes is amended to read:

AB75,762,20 67.12 (12) (e) 5. Within 10 days of the adoption by a technical college district board of a resolution under subd. 1. to issue a promissory note for a purpose under s. 38.16 (2), the secretary of the district board shall publish a notice of such adoption as a class 1 notice, under ch. 985. The notice need not set forth the full contents of the resolution, but shall state the amount proposed to be borrowed, the method of borrowing, the purpose thereof, that the resolution was adopted under this subsection and the place where and the hours during which the resolution is available for public inspection. If the amount proposed to be borrowed is for building remodeling or improvement and does not exceed $1,000,000 $1,500,000 or is for movable equipment, the district board need not submit the resolution to the electors for approval unless, within 30 days after the publication or posting, a petition conforming to the requirements of s. 8.40 is filed with the secretary of the district board requesting a referendum at a special election to be called for that purpose. Such petition shall be signed by electors from each county lying wholly or partially within the district. The number of electors from each county shall equal at least 1.5% of the population of the county as determined under s. 16.96 (2) (c). If a county lies in more than one district, the technical college system board shall apportion the county's population as determined under s. 16.96 (2) (c) to the districts involved and the petition shall be signed by electors equal to the appropriate percentage of the apportioned population. In lieu of a special election, the district board may specify that the referendum shall be held at the next succeeding spring primary or election or September primary or general election. Any resolution to borrow amounts of money in excess of $1,000,000 $1,500,000 for building remodeling or improvement shall be submitted to the electors of the district for approval. If a referendum is held or required under this subdivision, no promissory note may be issued until the issuance is approved by a majority of the district electors voting at such referendum. The referendum shall be noticed, called and conducted under s. 67.05 (6a) insofar as applicable, except that the notice of special election and ballot need not embody a copy of the resolution and the question which shall appear on the ballot shall be "Shall .... (name of district) be authorized to borrow the sum of $.... for (state purpose) by issuing its general obligation promissory note (or notes) under section 67.12 (12) of the Wisconsin Statutes?".

AB75, s. 1502 Section 1502. 69.22 (1) (a) of the statutes, as affected by 2007 Wisconsin Act 20, Section 1918h, is amended to read:

AB75,762,25 69.22 (1) (a) Except as provided under par. (c), $7 $20 for issuing one certified copy of a vital record and $3 for any additional certified copy of the same vital record issued at the same time.

AB75, s. 1503 Section 1503. 69.22 (1) (b) of the statutes, as affected by 2007 Wisconsin Act 20, Section 1918j, is amended to read:

AB75,763,6 69.22 (1) (b) Except as provided under par. (c), $20 for issuing an uncertified copy of a vital record issued under s. 69.21 (2) (a) or (b), or $7 for verifying information about the event submitted by a requester without issuance of a copy, $7, and $3 for any additional copy of the same vital record issued at the same time.

AB75, s. 1504 Section 1504. 69.22 (1) (c) of the statutes is amended to read:

AB75,763,12 69.22 (1) (c) Twenty Twenty-two dollars for issuing an uncertified copy of a birth certificate or a certified copy of a birth certificate, $7 of which shall be forwarded to the secretary of administration as provided in sub. (1m) and credited to the appropriations under s. 20.433 (1) (g) and (h); and $3 $5 for issuing any additional certified or uncertified copy of the same birth certificate issued at the same time.

AB75, s. 1505 Section 1505. 69.22 (1) (c) of the statutes, as affected by 2007 Wisconsin Act 20, section 1918L, and 2009 Wisconsin Act .... (this act), is repealed and recreated to read:

AB75,763,18 69.22 (1) (c) Twenty-two dollars for issuing an uncertified copy of a birth certificate or a certified copy of a birth certificate, and $5 for issuing any additional certified or uncertified copy of the same birth certificate issued at the same time.

AB75, s. 1506 Section 1506. 69.22 (1) (d) of the statutes, as affected by 2007 Wisconsin Act 20, Section 1918n, is amended to read:

AB75,763,22 69.22 (1) (d) In addition to other fees under this subchapter, $10 $20 for expedited service in issuing a vital record.

AB75, s. 1507 Section 1507. 69.22 (1m) of the statutes, as affected by 2007 Wisconsin Act 20, is amended to read:

AB75,764,6 69.22 (1m) The state registrar and any local registrar acting under this subchapter shall, for each copy of a birth certificate for which a fee under sub. (1) (c) is charged that is issued during a calendar quarter, forward to the secretary of administration for deposit in the appropriations appropriation accounts under s. 20.433 (1) (g) and (h) the amounts specified in sub. (1) (c) $7 by the 15th day of the first month following the end of the calendar quarter.