AB892-ASA4,34,20 19(1) Make grants or loans to a district upon terms that the county or
20municipality considers appropriate.
AB892-ASA4,34,21 21(2) Expend public funds to subsidize a district.
AB892-ASA4,34,23 22(3) Borrow money under ss. 67.04 and 67.12 (12) for football stadium facilities
23or to fund grants, loans or subsidies to a district.
AB892-ASA4,34,25 24(4) Lease or transfer property to a district upon terms that the county or
25municipality considers appropriate.
AB892-ASA4,35,4
1(5) With the consent of a district, establish and collect fees or other charges
2applicable only to a football stadium for the right to purchase admission to events at
3the stadium, if the proceeds from any amount that is collected under this subsection
4are used for purposes related to football stadium facilities.
AB892-ASA4,35,10 5229.827 Contracting. (1) Unless a district board determines that it is not
6feasible to do so, the district shall enter into a contract with a professional football
7team, as described in s. 229.823, or a related party, that requires the team or related
8party to acquire and construct football stadium facilities that are part of any facilities
9that are leased by the district to the team or to a related party, without regard to
10whether the football stadium facilities are financed by the district.
AB892-ASA4,35,14 11(2) Unless otherwise provided in an agreement with a professional football
12team, as described in s. 229.823, the district shall be responsible only for the
13maintenance and operating costs of the football stadium facilities up to an amount
14that is in the reserve specified in s. 229.825 (2) (c).
AB892-ASA4,35,20 15229.8275 Prevailing wage. A district may not enter into a contract under s.
16229.827 with a professional football team, as described in s. 229.823, or a related
17party that requires the team or related party to acquire and construct football
18stadium facilities that are part of any facilities that are leased by the district to the
19team or to a related party unless the professional football team or related party
20agrees as follows:
AB892-ASA4,36,2 21(1) Not to permit any employe working on the football stadium facilities who
22would be entitled to receive the prevailing wage rate under s. 66.293 and who would
23not be required or permitted to work more than the prevailing hours of labor, if the
24football stadium facilities were a project of public works subject to s. 66.293, to be

1paid less than the prevailing wage rate or to be required or permitted to work more
2than the prevailing hours of labor, except as permitted under s. 66.293 (4) (a).
AB892-ASA4,36,7 3(2) To require any contractor, subcontractor or agent thereof performing work
4on the football stadium facilities to keep and permit inspection of records in the same
5manner as a contractor, subcontractor or agent thereof performing work on a project
6of public works that is subject to s. 66.293 is required to keep and permit inspection
7of records under s. 66.293 (10).
AB892-ASA4,36,14 8(3) Otherwise to comply with s. 66.293 in the same manner as a local
9governmental unit contracting for the erection, construction, remodeling, repairing
10or demolition of a project of public works is required to comply with s. 66.293 and to
11require any contractor, subcontractor or agent thereof performing work on the
12football stadium facilities to comply with s. 66.293 in the same manner as a
13contractor, subcontractor or agent thereof performing work on a project of public
14works that is subject to s. 66.293 is required to comply with s. 66.293.
AB892-ASA4,36,24 15229.828 Dissolution of a district. Subject to providing for the payment of
16its bonds, including interest on the bonds, and the performance of its other
17contractual obligations, a district may be dissolved by the action of the district board.
18If a district board adopts a resolution that imposes taxes and the resolution is not
19approved by the electors, as described in s. 229.824 (15), the district is dissolved. If
20the district is dissolved, the property of the district shall be transferred to the
21political subdivisions that compose the district's jurisdiction in such proportions as
22the secretary of administration determines fairly and reasonably represent the
23contributions of each political subdivision to the development or improvement of the
24football stadium facilities.
AB892-ASA4,37,3
1229.829 Issuance and negotiability of bonds. (1) Negotiability. All bonds
2are negotiable for all purposes, notwithstanding their payment from a limited
3source.
AB892-ASA4,37,6 4(2) Employment of financial consultant. A district may retain the building
5commission or any other person as its financial consultant to assist with and
6coordinate the issuance of bonds.
AB892-ASA4,37,10 7(3) No personal liability. Neither the members of the district board nor any
8person executing the bonds is liable personally on the bonds or subject to any
9personal liability or accountability by reason of the issuance of the bonds, unless the
10personal liability or accountability is the result of wilful misconduct.
AB892-ASA4,37,14 11(4) Limit on bonds. The principal amount of bonds, other than refunding bonds,
12that are issued by a district may not exceed $160,000,000. The limitation under this
13subsection does not include the proceeds of any bonds that are used for any of the
14following purposes:
AB892-ASA4,37,1515 (a) To pay issuance costs of the bonds.
AB892-ASA4,37,1616 (b) To pay any original issue discount.
AB892-ASA4,37,1717 (c) To make a deposit into a special debt service reserve fund.
AB892-ASA4,37,1818 (d) To pay costs of credit enhancement.
AB892-ASA4,37,20 19(5) Date of issuance. All bonds, other than refunding bonds, that are issued
20by a district shall be issued no later than December 31, 2004.
AB892-ASA4,38,2 21229.830 Special debt service reserve funds for moral obligation pledge.
22(1) Designation of special debt service reserve funds. A district may designate one
23or more accounts in funds created under s. 66.066 (2) (e) as special debt service
24reserve funds, if, prior to each issuance of bonds to be secured by each special debt

1service reserve fund, the secretary of administration determines that all of the
2following conditions are met with respect to the bonds:
AB892-ASA4,38,43 (a) Purpose. The proceeds of the bonds, other than refunding bonds, will be
4used for purposes related to football stadium facilities.
AB892-ASA4,38,105 (b) Feasibility. The proceeds of bonds, other than refunding bonds, will be used
6for feasible projects and there is a reasonable likelihood that the bonds will be repaid
7without the necessity of drawing on funds in the special debt service reserve fund
8that secures the bonds. The secretary of administration may make the
9determinations required under this paragraph only after considering all of the
10following:
AB892-ASA4,38,1211 1. Whether a pledge of the tax revenues of the district is made under the bond
12resolution.
AB892-ASA4,38,1313 2. How the tax revenues of the district are pledged to the payment of the bonds.
AB892-ASA4,38,1614 3. Revenue projections for the project to be financed by the bonds, including tax
15revenues, and the reasonableness of the assumptions on which these revenue
16projections are based.
AB892-ASA4,38,1817 4. The proposed interest rates of the bonds and the resulting cash-flow
18requirements.
AB892-ASA4,38,2019 5. The projected ratio of annual tax revenues to annual debt service of the
20district, taking into account capitalized interest.
AB892-ASA4,38,2321 6. Whether an understanding exists providing for repayment by the district to
22the state of all amounts appropriated to the special debt service reserve fund
23pursuant to sub. (7).
AB892-ASA4,39,3
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-ASA4,39,74 (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-ASA4,39,98 (d) Date of issuance. The bonds, other than refunding bonds, will be issued no
9later than December 31, 2004.
AB892-ASA4,39,1110 (e) Refunding bonds. All refunding bonds to be secured by the special debt
11service reserve fund meet all of the following conditions:
AB892-ASA4,39,1312 1. The refunding bonds are to be issued to fund, refund or advance refund bonds
13secured by a special debt service reserve fund.
AB892-ASA4,39,1514 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-ASA4,39,2116 (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-ASA4,39,2522 (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-ASA4,40,7
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-ASA4,40,23 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-ASA4,41,6 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-ASA4,41,23 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-ASA4,42,3
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-ASA4,42,64 (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-ASA4,42,107 (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-ASA4,42,14 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-ASA4,43,4 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-ASA4,43,8 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-ASA4,43,15 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-ASA4,44,2 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-ASA4,44,8 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-ASA4,44,15 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-ASA4,44,22 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-ASA4,45,5 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-ASA4, s. 48 6Section 48. 779.14 (1m) (d) 2. b. of the statutes is amended to read:
AB892-ASA4,45,187 779.14 (1m) (d) 2. b. The Except as provided in sub. (4), the contract shall
8require the prime contractor to provide a payment and performance bond meeting
9the requirements of par. (e), unless the public body authorized to enter into the
10contract allows the prime contractor to substitute a different payment assurance for
11the payment and performance bond. The public body may allow a prime contractor
12to substitute a different payment and performance assurance for the payment and
13performance bond only if the substituted payment and performance assurance is for
14an amount at least equal to the contract price and is in the form of a bond, an
15irrevocable letter of credit or an escrow account acceptable to the public body. The
16public body shall establish written standards under this subd. 2. b. governing when
17a different payment and performance assurance may be substituted for a payment
18and performance bond under par. (e).
AB892-ASA4, s. 49 19Section 49. 779.14 (1m) (d) 3. of the statutes is amended to read:
AB892-ASA4,45,2320 779.14 (1m) (d) 3. In Except as provided in sub. (4), in the case of a contract with
21a contract price exceeding $100,000, as indexed under sub. (1s), the contract shall
22require the prime contractor to obtain a payment and performance bond meeting the
23requirements under par. (e).
AB892-ASA4, s. 50 24Section 50. 779.14 (4) of the statutes is created to read:
AB892-ASA4,46,4
1779.14 (4) Bonding exemption. A contract with a local professional football
2stadium district under subch. IV of ch. 229 is not required under sub. (1m) (d) 2. b.
3or 3. to include a provision requiring the prime contractor to provide or obtain a
4payment and performance bond or other payment assurance.
AB892-ASA4, s. 51 5Section 51. 946.15 of the statutes is amended to read:
AB892-ASA4,46,20 6946.15 Public construction contracts at less than full rate. (1) Any
7employer, or any agent or employe of an employer, who induces any person who seeks
8to be or is employed pursuant to a public contract as defined in s. 66.29 (1) (c) or who
9seeks to be or is employed on a project on which a prevailing wage rate determination
10has been issued by the department of workforce development under s. 66.293 (3),
11103.49 (3) or, 103.50 (3) or 229.8275 (3) or by a local governmental unit, as defined
12in s. 66.293 (1) (d), under s. 66.293 (6) to give up, waive or return any part of the
13compensation to which that person is entitled under his or her contract of
14employment or under the prevailing wage rate determination issued by the
15department or local governmental unit, or who reduces the hourly basic rate of pay
16normally paid to an employe for work on a project on which a prevailing wage rate
17determination has not been issued under s. 66.293 (3) or (6), 103.49 (3) or, 103.50 (3)
18or 229.8275 (3) during a week in which the employe works both on a project on which
19a prevailing wage rate determination has been issued and on a project on which a
20prevailing wage rate determination has not been issued, is guilty of a Class E felony.
AB892-ASA4,47,9 21(2) Any person employed pursuant to a public contract as defined in s. 66.29
22(1) (c) or employed on a project on which a prevailing wage rate determination has
23been issued by the department of workforce development under s. 66.293 (3), 103.49
24(3) or, 103.50 (3) or 229.8275 (3) or by a local governmental unit, as defined in s.
2566.293 (1) (d), under s. 66.293 (6) who gives up, waives or returns to the employer or

1agent of the employer any part of the compensation to which the employe is entitled
2under his or her contract of employment or under the prevailing wage determination
3issued by the department or local governmental unit, or who gives up any part of the
4compensation to which he or she is normally entitled for work on a project on which
5a prevailing wage rate determination has not been issued under s. 66.293 (3) or (6),
6103.49 (3) or, 103.50 (3) or 229.8275 (3) during a week in which the person works
7part-time on a project on which a prevailing wage rate determination has been
8issued and part-time on a project on which a prevailing wage rate determination has
9not been issued, is guilty of a Class C misdemeanor.
AB892-ASA4,47,19 10(3) Any employer or labor organization, or any agent or employe of an employer
11or labor organization, who induces any person who seeks to be or is employed on a
12project on which a prevailing wage rate determination has been issued by the
13department of workforce development under s. 66.293 (3), 103.49 (3) or, 103.50 (3)
14or 229.8275 (3) or by a local governmental unit, as defined in s. 66.293 (1) (d), under
15s. 66.293 (6) to permit any part of the wages to which that person is entitled under
16the prevailing wage rate determination issued by the department or local
17governmental unit to be deducted from the person's pay is guilty of a Class E felony,
18unless the deduction would be permitted under 29 CFR 3.5 or 3.6 from a person who
19is working on a project that is subject to 40 USC 276c.
AB892-ASA4,48,3 20(4) Any person employed on a project on which a prevailing wage rate
21determination has been issued by the department of workforce development under
22s. 66.293 (3), 103.49 (3) or, 103.50 (3) or 229.8275 (3) or by a local governmental unit,
23as defined in s. 66.293 (1) (d), under s. 66.293 (6) who permits any part of the wages
24to which that person is entitled under the prevailing wage rate determination issued
25by the department or local governmental unit to be deducted from his or her pay is

1guilty of a Class C misdemeanor, unless the deduction would be permitted under 29
2CFR 3.5
or 3.6 from a person who is working on a project that is subject to 40 USC
3276c
.
AB892-ASA4, s. 52 4Section 52. Initial applicability.
AB892-ASA4,48,75 (1) Taxation. The treatment of sections 71.05 (1) (c) 5., 71.10 (5e), 71.26 (1) (bm)
6and (1m) (g), 71.36 (1m) and 71.45 (1t) (g) of the statutes first applies to taxable years
7beginning on January 1, 2000.
AB892-ASA4,48,168 (2) Prevailing wage. The treatment of sections 103.49 (3) (ar), 109.09 (1),
9111.322 (2m) (c), 227.01 (13) (t), 229.8275 and 946.15 of the statutes first applies to
10a contract under section 229.827 of the statutes, as created by this act, between a
11local professional football stadium district and a professional football team, as
12described in section 229.823 of the statutes, as created by this act, or a related party,
13as defined in section 229.821 (12) of the statutes, as created by this act, that requires
14the team or related party to acquire and construct football stadium facilities that are
15part of any facilities that are leased by the district to the team or to a related party
16entered, or extended, modified or renewed, on the effective date of this subsection.
AB892-ASA4, s. 53 17Section 53. Effective dates. This act takes effect on the day after publication,
18except as follows:
AB892-ASA4,48,2019 (1) The treatment of section 77.54 (45) of the statutes takes effect on the first
20day of the 2nd month beginning after publication.
Loading...
Loading...