59,984gd
Section 984gd. 66.0304 (3) (a) of the statutes is amended to read:
66.0304 (3) (a) Two or more political subdivisions may create a commission for the purpose of issuing bonds exercising the powers granted under this section by entering into an agreement to do so under s. 66.0301 (2) or 66.0303 (2), except that upon its creation all of the initial members of a the commission shall be political subdivisions that are located in this state. A commission that is created as provided in this section is a unit of government, and a body corporate and politic, that is separate and distinct from, and independent of, the state and the political subdivisions which are parties to the agreement.
59,984ge
Section 984ge. 66.0304 (4) (a) of the statutes is amended to read:
66.0304 (4) (a) Adopt and amend bylaws, policies, and procedures for the regulation of its affairs and the conduct of its business.
59,984gf
Section 984gf. 66.0304 (4) (c) of the statutes is amended to read:
66.0304 (4) (c) Acquire, buy, own, operate, sell, lease as lessor or lessee, encumber, mortgage, hypothecate, pledge, assign, gift, or otherwise transfer any real, personal, tangible, or intangible property or interest in property that is located within or outside of this state.
59,984gg
Section 984gg. 66.0304 (4) (f) of the statutes is amended to read:
66.0304 (4) (f) Employ or appoint agents, employees, finance professionals, counsel, and special advisers as the commission finds necessary and fix their compensation.
59,984gh
Section 984gh. 66.0304 (4) (p) of the statutes is amended to read:
66.0304 (4) (p) Purchase bonds issued by or on behalf of, or held by, any participant, any state or a department, authority, or agency of the any state, or any political subdivision or subunit of a political subdivision, or the federal government or subunit of the federal government. Bonds purchased under this paragraph may be held by the commission or sold, in whole or in part, separately or together with other bonds issued by the commission.
59,984gi
Section 984gi. 66.0304 (4e) of the statutes is created to read:
66.0304 (4e) Creation of business entity. In this subsection, “business entity" means any nonprofit or for-profit corporation, limited liability company, partnership, or other business organization or entity. A commission may create one or more business entities of which the commission is the sole or controlling owner, member, manager, or partner, provided that the purpose of the business entity is to carry out or assist the commission in carrying out all or part of the commission's powers under sub. (4) with respect to projects located outside this state. Control may consist of the power to appoint a majority of, or veto any proposed appointment to, the governing body of a business entity created under this subsection. A business entity created under this subsection shall have such powers, consistent with the laws of the jurisdiction in which the business entity is organized, as are delegated to it by the commission and set forth in its organizational documents or in the resolution authorizing its creation. A business entity created under this subsection may be created or organized under the laws of this state or any state or territory of the United States. A business entity created under this subsection is entitled to the same exemptions and immunities that apply to a commission under this section. A business entity created under this subsection and a commission may make loans to, borrow money from, and acquire or assign or transfer property to or from, one another or any participant. A business entity created under this subsection is a legal entity that is separate and distinct from the commission, and its assets and liabilities may not be consolidated or commingled with those of a commission or any other business entity created under this subsection. A commission may not be held accountable for the actions, omissions, debts, or liabilities of any business entity created under this subsection. A business entity created under this subsection may not be held accountable for the actions, omissions, debts, or liabilities of the commission that creates it, or of any other business entity created under this subsection.
59,984gj
Section 984gj. 66.0304 (4s) of the statutes is created to read:
66.0304 (4s) Participation in projects. In connection with a project located outside this state, the commission, directly or through a business entity created under sub. (4e), may participate in any new markets or other tax credit, subsidy, grant, loan, or credit enhancement program and may participate in any federal, state, or local government program established for the purpose of fostering economic development, including disaster relief, clean or renewable energy, housing assistance, water efficiency, transportation, or any other economic development in which the commission or a business entity created under sub. (4e) is eligible to participate, regardless of whether participation by the commission or a business entity involves the issuance of bonds by the commission or by any other issuer. In connection with the participation described in this subsection, the commission may
exercise any or all of the powers under sub. (4) (c) and (g) to (L), or it may delegate those powers to a business entity created under sub. (4e).
59,984gk
Section 984gk. 66.0304 (5) (a) 1. of the statutes is amended to read:
66.0304 (5) (a) 1. The face
form of the bond shall include the date of issuance and the date of maturity.
59,984gL
Section 984gL. 66.0304 (5) (a) 2. of the statutes is amended to read:
66.0304 (5) (a) 2. The face
form of the bond shall include the statements required under subs. (9) (c) and (11) (d).
59,984gm
Section 984gm. 66.0304 (5) (ae) of the statutes is created to read:
66.0304 (5) (ae) A bond resolution, trust agreement or indenture, or other agreement providing for issuance of the bonds may provide that the facsimile, electronic, or digital signature of any person authorized to execute documents, including bonds, on behalf of the commission shall be considered to be the legal equivalent of a manual signature on specified documents or all documents, and such signatures are valid and binding for all purposes.
59,984gn
Section 984gn. 66.0304 (5) (am) (intro.) of the statutes is amended to read:
66.0304 (5) (am) (intro.) Notwithstanding par. (a), as an alternative to specifying the matters required to be specified in the bond resolution under par. (a), the resolution may specify members of the board or officers or employees of the commission, by name or position, to whom the commission delegates authority to determine which of the matters under specified par. (a), and any other matters that the commission deems appropriate, for inclusion in the trust agreement, indenture, or other agreement providing for issuance of the bonds as finally executed. A resolution under this paragraph shall specify at least all of the following:
59,984go
Section 984go. 66.0304 (5) (am) 3. of the statutes is amended to read:
66.0304 (5) (am) 3. The maximum interest rate to be borne by the bonds expressed as a numerical percentage and without regard to any penalty, default, or taxable rate that may be applicable to the bonds.
59,984gp
Section 984gp. 66.0304 (5) (b) 1. of the statutes is amended to read:
66.0304 (5) (b) 1. Early mandatory or optional redemption or purchase in lieu of redemption or tender, as provided in the resolution.
59,984gq
Section 984gq. 66.0304 (5) (b) 3. of the statutes is amended to read:
66.0304 (5) (b) 3. A trust agreement or indenture
containing, or other agreement providing for issuance of the bonds, any of which contains any terms, conditions, and covenants that the commission determines to be necessary or appropriate, but such terms, conditions, and covenants may not be in conflict with the resolution.
59,984gqf
Section 984gqf. 66.0304 (5) (e) of the statutes is amended to read:
66.0304 (5) (e) The commission shall send notification to the department of administration and the department of revenue, on a form prescribed by the department of revenue, whenever a bond is issued under this section.
59,984gr
Section 984gr. 66.0304 (6) (e) of the statutes is repealed.
59,984gs
Section 984gs. 66.0304 (7) (a) of the statutes is amended to read:
66.0304 (7) (a) The commission may secure bonds by a trust agreement or, indenture
by and between the commission and one or more corporate trustees, or other agreement providing for the issuance of the bonds. A bond resolution, trust agreement, or indenture
, or other agreement providing for the issuance of the bonds may contain provisions for pledging the pledge or assignment by the commission of properties, revenues, and other tangible or intangible collateral, including contractual rights; holding and disbursing funds; protecting and enforcing the rights and remedies of bondholders; restricting individual rights of action by bondholders; and amendments, and any other provisions the commission determines to be reasonable and proper for the security of the bondholders or contracts entered into under this section in connection with the bonds.
59,984gt
Section 984gt. 66.0304 (8) of the statutes is amended to read:
66.0304 (8) No personal liability. No board member director, officer, employee, or agent of the commission, of any member, or of a business entity created under sub. (4e) is liable personally on the bonds or any contract entered into by the commission or business entity or subject to any personal liability or accountability by reason of the contract or the issuance of the bonds, unless the personal liability or accountability is the result of the willful misconduct of such person.
59,984gu
Section 984gu. 66.0304 (9) (b) of the statutes is amended to read:
66.0304 (9) (b) The state and the political subdivisions who are parties to the agreement creating a commission under this section, the members, and the political subdivisions approving financing under sub. (11) (a) are not liable on bonds or any other contract entered into under this section, or for any other debt, obligation, or liability of the commission or a business entity created under sub. (4e), whether in tort, contract, or otherwise.
59,984gv
Section 984gv. 66.0304 (9) (c) of the statutes is amended to read:
66.0304 (9) (c) The bonds are not a debt of the state or the political subdivisions contracting to create a commission under this section, the members, or the political subdivisions approving financing under sub. (11) (a). A bond issue under this section does not obligate the state or a political subdivision to levy any tax or make any appropriation for payment of the bonds. All bonds issued
by a commission are payable solely from the funds pledged for their payment in accordance with the bond resolution or, trust agreement
or, indenture, or other agreement providing for their issuance. All bonds shall contain, on their face, a statement regarding the obligations of the state, the political subdivisions who are parties to the agreement creating the commission,
the members, the political subdivisions approving financing under sub. (11) (a), and the commission as set forth in this paragraph.
59,984gw
Section 984gw. 66.0304 (9) (d) of the statutes is created to read:
66.0304 (9) (d) Projects not located in this state that are financed or refinanced by bonds of a commission, including any project owned, operated, leased from or to, or otherwise controlled by a participant or by the commission, are not considered public projects of this state, and are not subject to procurement, contracting, construction, tax, acquisition, construction, or improvements laws of this state that are applicable to public projects.
59,984gx
Section 984gx. 66.0304 (10) (b) of the statutes is amended to read:
66.0304 (10) (b) A commission 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, except that the commission by a unanimous vote may decide to have an audit performed under this paragraph every 2 years.
59,984gy
Section 984gy. 66.0304 (10) (d) of the statutes is created to read:
66.0304 (10) (d) Within 30 days of the close of each calendar quarter, a commission and any entity created under sub. (4e) shall file a report with the secretary of administration and the legislative audit bureau containing information showing the amount of bonds issued by the commission and any such entity in the previous quarter, the names of the borrowers and the project associated with the bonds, the types of bonds that were issued, the location of the project associated with the bonds, and a statement of the bond issuance fees that the commission and any such entity received in relation to each of the bond issues identified in the report.
59,984h
Section 984h. 66.0304 (11) (a) of the statutes is renumbered 66.0304 (11) (a) 1. (intro.) and amended to read:
66.0304 (11) (a) 1. (intro.) A
Except as provided in subd. 2., a commission may not issue bonds to finance a capital improvement project in any state or territory of the United States unless a political subdivision within whose boundaries the project is to be located has approved the financing of the project. A commission may not issue bonds to finance a capital improvement project in this state unless all of the political subdivisions within whose boundaries the project is to be located has
have approved the financing of the project. An approval under this paragraph subdivision may be made by the one of the following:
a. The governing body of the political subdivision
or, except or its designee.
b. Except for a 1st class city or a county in which a 1st class city is located, by the highest ranking executive or administrator of the political subdivision or his or her designee.
59,984hb
Section 984hb. 66.0304 (11) (a) 1. c. of the statutes is created to read:
66.0304
(11) (a) 1. c. An applicable elected representative of the political subdivision, if any, as defined in section
147 (f) (2) (E) of the Internal Revenue Code, except that for a 1st class city, or a county in which a 1st class city is located, such approval may be given only by the governing body of the city or county.
59,984hc
Section 984hc. 66.0304 (11) (a) 2. of the statutes is created to read:
66.0304
(11) (a) 2. Except for financing a capital improvement project in this state, the commission may issue bonds to finance a capital improvement project without receiving the approval under subd. 1. if the financing is approved in accordance with section
147 (f) of the Internal Revenue Code.
59,984hd
Section 984hd. 66.0304 (11) (a) 3. of the statutes is created to read:
66.0304 (11) (a) 3. Bonds issued under this section are not considered issued for the purpose of financing a capital improvement project if the bond proceeds are used for any of the following purposes:
a. To finance a facility if the facility was placed in service for federal tax purposes by the participant or a related person prior to the commission issuing the bonds and if no more than 10 percent of the bond proceeds are used to finance the construction, expansion, rehabilitation, renovation, or remodeling of capital improvements.
b. To finance the acquisition of a facility, by a participant or by the commission, if no more than 10 percent of the bond proceeds are used to finance the construction, expansion, rehabilitation, renovation, or remodeling of the facility.
c. To finance the commission's purchase either of bonds issued by a different issuer or of leases or contracts from a 3rd-party provider, and those bonds, leases, or contracts are used or were used to finance in whole or in part the construction, expansion, rehabilitation, renovation, or remodeling of real or tangible personal property.
59,984he
Section 984he. 66.0304 (11) (bm) of the statutes is amended to read:
66.0304 (11) (bm) A project may be located outside of the United States or outside a territory of the United States if the any participant or borrower, including a co-borrower, of proceeds of bonds issued to finance or refinance the project in whole or in part is incorporated organized under the laws of and has its principal place of
business in any state or territory of the United States or a territory of the United States. To the extent that this paragraph applies to a borrower, it also applies to a participant if the participant is a nongovernmental entity.
59,984hf
Section 984hf. 66.0304 (11) (c) of the statutes is amended to read:
66.0304 (11) (c) Any action brought to challenge the validity of the issuance of a bond under this section, or the enforceability of a contract entered into under this section, must be commenced in circuit court within 30 days of the commission adopting a resolution authorizing the issuance of the bond or the execution of the contract or be barred. Section 893.77 does not apply to bonds issued under this section.
59,984hg
Section 984hg. 66.0304 (12) of the statutes is amended to read:
66.0304 (12) State Pledge. The state pledges to and agrees with the bondholders, and persons that enter into contracts with a commission under this section, that the state will not limit, impair, or alter the rights and powers vested in a commission by this section, including the rights and powers under sub. (4), before the commission has met and discharged the bonds, and any interest due on the bonds, and has fully performed its contracts, unless adequate provision is made by law for the protection of the bondholders or those entering into contracts with a commission. The commission may include this pledge in a contract with bondholders. The pledge and agreement described in this subsection do not create any liability on any bonds or contracts of the commission on the part of the state, the members, or any other political subdivision of the state, or any political subdivision approving financing under sub. (11) (a), which liability shall be expressly limited as provided in sub. (9).
59,984ht
Section 984ht. 66.0307 (3) (d) 4m. of the statutes is created to read:
66.0307 (3) (d) 4m. Identify all highways within the territory covered by the plan of which each participating municipality has jurisdiction.
59,984i
Section 984i. 66.0307 (6) of the statutes is amended to read:
66.0307 (6) Binding elements of cooperative plan. If a cooperative plan is approved by the department under sub. (5) or an amended plan is approved under sub. (8), provisions in the plan to maintain existing boundaries, the boundary changes in the plan, the schedule for those changes, the plan for delivery of services, including road maintenance, and the schedule for those services are binding on the parties to the plan and have the force and effect of a contract.
59,984ig
Section 984ig. 66.0414 of the statutes is created to read:
66.0414 Quarry operations.
(1) Construction. (a) Nothing in this section may be construed to affect the authority of a political subdivision to regulate land use for a purpose other than quarry operations.
(b) Nothing in this section may be construed to exempt a quarry from a regulation of general applicability placed by a political subdivision that applies to other property in the political subdivision that is not a quarry unless the regulation is inconsistent with this section.
(c) Except for making unenforceable, under sub. (4) (b), (d), or (f), an ordinance or other limit on quarry operations, this section may not be interpreted to affect a legal claim that involves an ordinance or other limit on quarry operations that is in effect on January 1, 2017.
(2) Definitions. In this section:
(a) “Permit” means a form of approval granted by a political subdivision for the operation of a quarry.
(b) “Political subdivision” means a city, village, town, or county.
(c) “Public works project” means a federal, state, county, or municipal project that involves the construction, maintenance, or repair of a public transportation facility or other public infrastructure and in which nonmetallic minerals are used.
(d) “Quarry” means the surface area from which nonmetallic minerals, including soil, clay, sand, gravel, and construction aggregate, that are used primarily for a public works project or a private construction or transportation project are extracted and processed.
(e) “Quarry operations” means the extraction and processing of minerals at a quarry and all related activities, including blasting, vehicle and equipment access to the quarry, and loading and hauling of material to and from the quarry.
(3) Limitations on local regulation. (a) Permits. 1. Consistent with the requirements and limitations in this subsection, except as provided in subd. 2. or 3., a political subdivision may require a quarry operator to obtain a zoning or non-zoning permit to conduct quarry operations.
2. a. Except as provided in subd. 2. b., a political subdivision may not require a quarry operator to obtain a zoning or non-zoning permit if the quarry operator conducts quarry operations at a quarry unless the political subdivision enacts an ordinance that requires the permit.
b. A political subdivision may require a quarry operator to obtain a permit to conduct quarry operations at a nonconforming quarry site, as defined in s. 59.69 (10) (ab) 2., if quarry operations at the nonconforming quarry site have been previously discontinued for a period of 12 consecutive months after the political subdivision enacted the permit requirement.
3. A political subdivision may not require a quarry operator to obtain a zoning or non-zoning permit to conduct quarry operations unless the political subdivision enacts an ordinance that requires the permit.
(b) Applicability of local limit. If a political subdivision enacts a non-zoning ordinance regulating the operation of a quarry that was not in effect when quarry operations began at a quarry, the limit does not apply to that quarry or to land that, as of the effective date of this subdivision .... [LRB inserts date], is contiguous, as defined in s. 59.69 (10) (ab) 1., to the land on which the quarry is located, is under the common ownership, leasehold, or control of the person who owns, leases, or controls the land on which the quarry is located, and is located in the same political subdivision.
(c) Blasting. 1. In this paragraph:
a. “Affected area” means an area within a certain radius of a blasting site that may be affected by a blasting operation, as determined using a formula established by the department of safety and professional services by rule that takes into account a scaled-distance factor and the weight of explosives to be used.
b. “Airblast” means an airborne shock wave caused by a blast.
c. “Flyrock” means rock that is propelled through the air as a result of a blast.
d. “Ground vibration” means a shaking of the ground caused by the elastic wave emanating from a blast.
2. Except as provided under subds. 3. and 4., a political subdivision may not limit blasting at a quarry.
