1995 Wisconsin Act 225

c. From its revenues generally.

2. Any of such the bonds under subd. 1. may be additionally secured by a pledge of any revenues or ( , subject to the limitation hereinafter limitations imposed) under pars. (b) and (c), a mortgage of any housing project, projects or other property of the authority.

225,232 Section 232. 66.40 (15) (L) of the statutes is renumbered 66.40 (15) (L) (intro.) and amended to read:

66.40 (15) (L) (intro.) To create or to authorize the creation of special funds in which there shall be segregated (a) the following:

1. The proceeds of any loan or grant or both ; (b) all.

2. All of the rents, fees and revenues of any housing project or projects or parts thereof; (c) any.

3. Any moneys held for the payment of the costs of operations and maintenance of any such housing projects or as a reserve for the meeting of contingencies in the operation and maintenance thereof; (d) any.

4. Any moneys held for the payment of the principal and interest on its bonds or the sums due under its leases or as a reserve for such payments; and (e) any

5. Any moneys held for any other reserves or contingencies; and to.

(Lm) To covenant as to the use and disposal of the moneys held in such funds created under par. (L).

Note: Subdivides provision for greater consistency with current style.

225,233 Section 233 . 66.40 (15) (t) of the statutes is amended to read:

66.40 (15) (t) To covenant to surrender possession of all or any part of any housing project or projects upon the happening of an event of default (, as defined in the contract), and to vest in an obligee the right to take possession and to use, operate, manage and control such housing projects or any part thereof, and to collect and receive all rents, fees and revenues arising therefrom in the same manner as the authority itself might do and to dispose of the moneys collected in accordance with the agreement of the authority with such obligee.

Note: Replaces parentheses for greater consistency with current style.

225,234 Section 234 . 66.40 (16) of the statutes is renumbered 66.40 (16) (b) (intro.) and amended to read:

66.40 (16) (b) (intro.) In connection with any project financed in whole or in part, or otherwise aided by a government (, whether through a donation of money or property, a loan, the insurance or guarantee of a loan, or otherwise), the authority shall also have power to mortgage do any of the following:

1. Mortgage all or any part of its property, real or personal, then owned or thereafter acquired, to grant .

2. Grant security interests in such its property, and to issue real or personal, then owned or thereafter acquired.

3. Issue its note or other obligation as may be required by the government. For purposes of this subsection, “government" includes the Wisconsin housing and economic development authority.

Note: Deletes parentheses, subdivides provision and reorganizes and replaces language for greater conformity with current style. See also the next section of this bill.

225,235 Section 235 . 66.40 (16) (a) of the statutes is created to read:

66.40 (16) (a) In this subsection, “government" includes the Wisconsin housing and economic development authority.

Note: Moves definition to the beginning of the section consistent with current style. See also the previous section of this bill.

225,236 Section 236 . 66.40 (17) (a) of the statutes is amended to read:

66.40 (17) (a) By mandamus, suit, action or proceeding in law or equity (, all of which may be joined in one action), to compel the authority, and the commissioners, officers, agents or employes thereof to perform each and every term, provision and covenant contained in any contract of the authority, and to require the carrying out of any or all covenants and agreements of the authority and the fulfillment of all duties imposed upon the authority by ss. 66.40 to 66.404.

Note: Deletes parentheses for greater conformity with current style.

225,237 Section 237 . 66.402 (1) (b) of the statutes is amended to read:

66.402 (1) (b) It may rent or lease to a tenant dwelling accommodations consisting of the number of rooms ( , but no greater number), which it deems considers necessary to provide safe and sanitary accommodations to the proposed occupants thereof, without overcrowding.

Note: Deletes parentheses and replaces language for greater conformity with current style.

225,238 Section 238 . 66.402 (1) (c) of the statutes is amended to read:

66.402 (1) (c) It shall not accept any person as a tenant in any housing project if the person or persons who would occupy the dwelling accommodations have an aggregate annual income in excess of 5 times the annual rental of the quarters to be furnished such the person or persons, except that in the case of families with minor dependents such the aggregate annual income of the person or persons who would occupy the dwelling accommodations may exceed 5 times the annual rental of the quarters to be furnished by $100 for each minor dependent or by an amount equal to the annual income of the minor dependents; in. In computing the rental for this the purpose of selecting tenants, there the authority shall be included determine and include in the rental the average annual cost (as determined by the authority) to the occupants, of heat, water, electricity, gas, cooking range and other necessary services or facilities, whether or not the charge for such services and facilities is in fact included in the rental. For the purposes of this subsection, a minor shall mean a person less than 18 years of age.

Note: Deletes parentheses and reorganizes and replaces language for greater conformity with current style. The definition of “minor" is redundant as it does not differ substantively from the general definition contained in s. 990.01.

Section239 . 66.4025 (1) (a) of the statutes is amended by replacing “accomodations" with “accommodations".

Note: Corrects spelling.

225,240 Section 240 . 66.4025 (1) (b) of the statutes is amended by replacing “accomodations" with “accommodations".

Note: Corrects spelling.

225,241 Section 241 . 66.4025 (1) (c) of the statutes is amended by replacing “accomodations" with “accommodations".

Note: Corrects spelling.

225,242 Section 242 . 66.4025 (2) of the statutes is amended by replacing “accomodations" with “accommodations".

Note: Corrects spelling.

225,243 Section 243 . 66.4025 (3) (intro.) of the statutes is amended by replacing “accomodations" with “accommodations".

Note: Corrects spelling.

225,244 Section 244 . 66.403 (5) of the statutes is amended to read:

66.403 (5) Enter into agreements, (which may extend over any period, notwithstanding any provision or rule of law to the contrary) with a housing authority or the federal government respecting action to be taken by such the state public body pursuant to any of the powers granted by ss. 66.40 to 66.404. The agreements may extend over any period, notwithstanding any provision or rule of law to the contrary;

Note: Deletes parentheses and reorganizes and replaces language for greater readability and conformity with current style.

225,245 Section 245 . 66.404 (1) of the statutes is amended to read:

66.404 (1) Contracts between authority and city. In connection with any housing project located wholly or partly within the area in which it is authorized to act, any city may agree with an authority or government that a certain sum (, subject to the limitations imposed by s. 66.40 (22)), or that no sum, shall be paid by the authority in lieu of taxes for any year or period of years.

Note: Deletes parentheses for greater conformity with current style.

225,246 Section 246 . 66.405 (3) (q) of the statutes is amended by replacing “incumbrances" with “encumbrances".

Note: Inserts preferred spelling.

225,247 Section 247 . 66.414 (2) (e) of the statutes is amended by replacing “incumbrance" with “encumbrance".

Note: Inserts preferred spelling.

225,248 Section 248 . 66.416 (2) of the statutes, as affected by 1995 Wisconsin Act 27, is renumbered 66.416 (2) (a) (intro.) and amended to read:

66.416 (2) (a) (intro.) Certificates, bonds and notes, or part interests therein, or any part of an issue thereof, which are issued by a redevelopment corporation and secured by a first mortgage on the real property of the redevelopment corporation, or any part thereof, shall be securities in which all the following persons, partnerships or corporations and public bodies or public officers may legally invest the funds within their control, but the principal amount thereof shall not exceed the limits, if any, imposed by law for such investments by the person, partnership, corporation, public body or public officer making the investment:

1. Every executor, administrator, trustee, guardian, committee or other person or corporation holding trust funds or acting in a fiduciary capacity; the.

2. The state, its subdivisions, cities, all other public bodies, and all public officers ; persons.

3. Persons, partnerships and corporations organized under or subject to the provisions of the banking law ( , including savings banks, savings and loan associations, trust companies, bankers and private banking corporations); the.

4. The division of banking as conservator, liquidator or rehabilitator of any such person, partnership or corporation; and persons, partnerships or corporations organized under or subject to chs. 600 to 646; and the .

5. The commissioner of insurance as conservator, liquidator or rehabilitator of any such person, partnership or corporation.

Note: Subdivides provision, reorganizes text and deletes parentheses for greater conformity with current style. See also the next section of this bill.

225,249 Section 249 . 66.416 (2) (b) of the statutes is created to read:

66.415 (2) (b) The principal amount of the securities described in par. (a) shall not exceed the limits, if any, imposed by law for investments by the person, partnership, corporation, public body or public officer making the investment.

Note: See the previous section of this bill.

225,250 Section 250 . 66.417 (2) of the statutes is amended to read:

66.417 (2) Notwithstanding the provisions of any general, special or local law or ordinance, such a sale or lease authorized under sub. (1) may be made without appraisal, public notice or public bidding for such a price or rental amount and upon such terms (and, in case of a lease, for such term not exceeding 60 years with a right of renewal upon such terms) as may be agreed upon between the city and the redevelopment corporation to carry out the purposes of ss. 66.405 to 66.425. In the case of a lease, the term of the lease shall not exceed 60 years with a right of renewal upon the same terms.

Note: Deletes parentheses and reorganizes language for greater readability and conformity with current style.

225,251 Section 251 . 66.418 (4) of the statutes is amended to read:

66.418 (4) The lease may reserve such easements or other rights in connection with the real property as may be deemed considered necessary or desirable for the future planning and development of the city and the extension of public facilities therein (, including also the construction of subways and conduits, and the widening and change changing of grade of streets); and it. The lease may contain such other provisions for the protection of the parties as are not inconsistent with the provisions of ss. 66.405 to 66.425.

Note: Deletes parentheses and replaces language for greater readability and conformity with current style.

225,252 Section 252 . 66.43 (3) (a) of the statutes is amended to read:

66.43 (3) (a) “Blighted area" means any area (, including a slum area), in which a majority of the structures are residential (or in which there is a predominance of buildings or improvements, whether residential or nonresidential), and which, by reason of dilapidation, deterioration, age or obsolescence, inadequate provision for ventilation, light, air, sanitation, or open spaces, high density of population and overcrowding, or the existence of conditions which endanger life or property by fire and other causes, or any combination of such factors, is conducive to ill health, transmission of disease, infant mortality, juvenile delinquency and crime, and is detrimental to the public health, safety, morals or welfare.

Note: Deletes parentheses for greater conformity with current style.

225,253 Section 253 . 66.43 (3) (h) of the statutes is amended to read:

66.43 (3) (h) “Project area" means a blighted area( or portion of a blighted area, as defined in this section), or portion thereof par. (a), of such extent and location as adopted by the planning commission and approved by the local legislative body as an appropriate unit of redevelopment planning for a redevelopment project, separate from the redevelopment projects in other parts of the city. In the provisions of this section relating to leasing or sale by the city, for abbreviation “project area" is used for the remainder of the project area after taking out those pieces of property which shall have been or are to be transferred for public uses.

Note: Deletes parentheses and reorganizes language for greater conformity with current style.

225,254 Section 254 . 66.43 (3) (L) of the statutes is amended to read:

66.43 (3) (L) “Redevelopment company" means a private or public corporation or body corporate ( , including a public housing authority), carrying out a plan under this section.

Note: Replaces parentheses for greater conformity with current style.

225,255 Section 255 . 66.43 (4) (a) (intro.) of the statutes is amended to read:

66.43 (4) (a) (intro.) Every city is hereby granted (, in addition to its other powers), all powers necessary or convenient to carry out and effectuate the purposes and provisions of this section, including the following powers in addition to others herein granted:

Note: Replaces parentheses for greater conformity with current style. “Hereby" is deleted pursuant to s. 13.93 (1) (f).

225,256 Section 256 . 66.43 (4) (a) 3. of the statutes is amended by replacing “incumber" with “encumber".

Note: Inserts preferred spelling.

225,257 Section 257 . 66.43 (6) (a) of the statutes is renumbered 66.43 (6) (a) (intro.) and amended to read:

66.43 (6) (a) (intro.) After the real property in the project area shall have has been assembled, the city shall have power to lease or sell all or any part of said the real property (, including streets or parts thereof to be closed or vacated in accordance with the plan), to a redevelopment company or to an individual, a limited liability company or a partnership for use in accordance with the redevelopment plan. Such real Real property in the project area shall be leased or sold at its fair value for uses in accordance with the redevelopment plan notwithstanding such that the fair value may be less than the cost of acquiring and preparing such the property for redevelopment. In determining such the property's fair value, a city shall take into account and give consideration to the following:

1. The uses and purposes required by the plan ; the.

2. The restrictions upon and covenants, conditions and obligations assumed by the purchaser or lessee, and the objectives of the redevelopment plan for the prevention of the recurrence of slum or blighted areas; and such.

3. Any other matters as that the city shall deem considers appropriate.

Note: Replaces parentheses and language for greater conformity with current style.