SB19-SA1,2,64
229.75
(4) The district board shall not pledge revenues derived from the taxes
5imposed under subch. V of ch. 77 to any bonds issued after the effective date of this
6subsection .... [revisor inserts date], except bonds to fund or refund obligations to
7which revenues derived from the taxes imposed under subch. V of ch. 77 have been
8pledged prior to the effective date of this subsection .... [revisor inserts date]. Bonds
9to fund or refund obligations to which tax revenues derived from the taxes imposed
10under subch. V of ch. 77 have been pledged prior to the effective date of this
11subsection .... [revisor inserts date], may not be issued to extend the life of bonds
12issued prior to the effective date of this subsection .... [revisor inserts date].
13Beginning on the effective date of this subsection .... [revisor inserts date], revenues
1derived from the taxes imposed under subch. V of ch. 77 may only be used to provide
2liquidity and credit facilities, remarketing agreements, insurance policies, guaranty
3agreements, letter of credit or reimbursement agreements, indexing agreements,
4interest exchange agreements, and currency exchange agreements in connection
5with previously issued bonds to which the tax revenues have been pledged for as long
6as such bonds are outstanding or have not been defeased.
SB19-SA1,2,148
229.75
(5) The district board shall prepare a plan of finance, using reasonable
9revenue assumptions, that identifies the earliest possible date on which all bonds to
10which revenues derived from the taxes imposed under subch. V of ch. 77 have been
11pledged can be repaid, tendered, or defeased and the certification under s. 229.685
12(2) can be provided to the department of revenue. No later than January 31, 2007,
13the district board shall submit the plan of finance to the legislature, the department
14of revenue, and the department of administration.".
