AB75-SSA1,673,98 2. Two members from the city of Milwaukee, appointed by the mayor of the city
9of Milwaukee.
AB75-SSA1,673,1110 3. One member from Racine County, appointed by the Racine County board
11chairperson.
AB75-SSA1,673,1312 4. One member from the city of Racine, appointed by the mayor of the city of
13Racine.
AB75-SSA1,673,1514 5. One member from Kenosha County, appointed by the county executive of
15Kenosha County.
AB75-SSA1,673,1716 6. One member from the city of Kenosha, appointed by the mayor of the city of
17Kenosha.
AB75-SSA1,673,1918 7. One member from the authority's jurisdictional area, appointed by the
19governor.
AB75-SSA1,673,2320 (d) The authority shall have all powers necessary and convenient to create,
21construct, and manage a KRM commuter rail line. A KRM commuter rail line shall
22include a stop at the point where the KRM commuter rail line intersects National
23Avenue in the city of Milwaukee.
AB75-SSA1,673,2424 (e) The authority may impose the fees under subch. XIII of ch. 77.
AB75-SSA1,674,5
1(f) 1. The authority may issue bonds, the principal and interest on which are
2payable exclusively from all or a portion of any revenues received by the authority.
3The authority may secure its bonds by a pledge of any income or revenues from any
4operations, rent, aids, grants, subsidies, contributions, or other source of moneys
5whatsoever.
AB75-SSA1,674,96 2. The authority may issue bonds in an aggregate principal amount not to
7exceed $50,000,000, excluding bonds issued to refund outstanding bonds issued
8under this subdivision, for the purpose of providing funds for the anticipated local
9funding share required for initiating KRM commuter rail line service.
AB75-SSA1,674,1110 3. Neither the authority's board of directors nor any person executing the bonds
11is personally liable on the bonds by reason of the issuance of the bonds.
AB75-SSA1,674,1612 4. The bonds of the authority are not a debt of the counties that comprise the
13authority. Neither these counties nor the state are liable for the payment of the
14bonds. The bonds of the authority shall be payable only out of funds or properties
15of the authority. The bonds of the authority shall state the restrictions contained in
16this subdivision on the face of the bonds.
AB75-SSA1,675,717 5. Bonds of the authority shall be authorized by resolution of the authority's
18board of directors. The bonds may be issued under such a resolution or under a trust
19indenture or other security instrument. The bonds may be issued in one or more
20series and may be in the form of coupon bonds or registered bonds under s. 67.09.
21The bonds shall bear the dates, mature at the times, bear interest at the rates, be in
22the denominations, have the rank or priority, be executed in the manner, be payable
23in the medium of payment and at the places, and be subject to the terms of
24redemption, with or without premium, as the resolution, trust indenture, or other
25security instrument provides. Bonds of the authority are issued for an essential

1public and governmental purpose and are public instrumentalities and, together
2with interest and income, are exempt from taxes. The authority may sell the bonds
3at public or private sales at the price or prices determined by the authority. If a
4member of the authority's board of directors whose signature appears on any bonds
5or coupons ceases to be a member of the authority's board of directors before the
6delivery of such obligations, the member's signature shall, nevertheless, be valid for
7all purposes as if the member had remained a member until delivery of the bonds.
AB75-SSA1,675,198 6. The authority may issue refunding bonds for the purpose of paying any of
9its bonds at or prior to maturity or upon acceleration or redemption. The authority
10may issue refunding bonds at such time prior to the maturity or redemption of the
11refunded bonds as the authority deems to be in the public interest. The refunding
12bonds may be issued in sufficient amounts to pay or provide the principal of the bonds
13being refunded, together with any redemption premium on the bonds, any interest
14accrued or to accrue to the date of payment of the bonds, the expenses of issue of the
15refunding bonds, the expenses of redeeming the bonds being refunded, and such
16reserves for debt service or other capital or current expenses from the proceeds of
17such refunding bonds as may be required by the resolution, trust indenture, or other
18security instruments. To the extent applicable, refunding bonds are subject to subd.
195.
AB75-SSA1,675,2120 (g) All moneys transferred under s. 59.58 (6) (cg) shall be used by the authority
21to assist in the planning of the KRM commuter rail line project.
AB75-SSA1,675,2222 (h) The authority's powers shall be limited to those specified in this subsection.
AB75-SSA1, s. 1449s 23Section 1449s. 59.69 (4c) of the statutes is amended to read:
AB75-SSA1,676,324 59.69 (4c) Construction site ordinance limits. Except as provided in s.
25101.1205 (5m) 281.33 (3m) (f), an ordinance that is enacted under sub. (4) may only

1include provisions that are related to construction site erosion control if those
2provisions are limited to sites where the construction activities do not include the
3construction of a building.
AB75-SSA1, s. 1450 4Section 1450. 59.69 (15) (intro.) of the statutes is amended to read:
AB75-SSA1,676,105 59.69 (15) Community and other living arrangements. (intro.) For purposes
6of this section, the location of a community living arrangement for adults, as defined
7in s. 46.03 (22), a community living arrangement for children, as defined in s. 48.743
8(1), a foster home, as defined in s. 48.02 (6), a treatment foster home, as defined in
9s. 48.02 (17q), or an adult family home, as defined in s. 50.01 (1) (a) or (b), in any
10municipality, shall be subject to the following criteria:
AB75-SSA1, s. 1451 11Section 1451 . 59.69 (15) (intro.) of the statutes, as affected by 2009 Wisconsin
12Act .... (this act), is amended to read:
AB75-SSA1,676,1813 59.69 (15) Community and other living arrangements. (intro.) For purposes
14of this section, the location of a community living arrangement for adults, as defined
15in s. 46.03 (22), a community living arrangement for children, as defined in s. 48.743
16(1), a foster home, as defined in s. 48.02 (6), a treatment foster home, as defined in
17s. 48.02 (17q),
or an adult family home, as defined in s. 50.01 (1) (a) or (b), in any
18municipality, shall be subject to the following criteria:
AB75-SSA1, s. 1452 19Section 1452. 59.69 (15) (bm) of the statutes is amended to read:
AB75-SSA1,677,220 59.69 (15) (bm) A foster home or a treatment foster home that is the primary
21domicile of a foster parent or treatment foster parent and that is licensed under s.
2248.62 or an adult family home certified under s. 50.032 (1m) (b) shall be a permitted
23use in all residential areas and is not subject to pars. (a) and (b) except that foster
24homes and treatment foster homes operated by corporations, child welfare agencies,

1religious associations, as defined in s. 157.061 (15), associations, or public agencies
2shall be subject to pars. (a) and (b).
AB75-SSA1, s. 1453 3Section 1453. 60.63 (intro.) of the statutes is amended to read:
AB75-SSA1,677,9 460.63 Community and other living arrangements. (intro.) For purposes
5of s. 60.61, the location of a community living arrangement for adults, as defined in
6s. 46.03 (22), a community living arrangement for children, as defined in s. 48.743
7(1), a foster home, as defined in s. 48.02 (6), a treatment foster home, as defined in
8s. 48.02 (17q), or an adult family home, as defined in s. 50.01 (1) (a) or (b), in any town
9shall be subject to the following criteria:
AB75-SSA1, s. 1454 10Section 1454 . 60.63 (intro.) of the statutes, as affected by 2009 Wisconsin Act
11.... (this act), is amended to read:
AB75-SSA1,677,17 1260.63 Community and other living arrangements. (intro.) For purposes
13of s. 60.61, the location of a community living arrangement for adults, as defined in
14s. 46.03 (22), a community living arrangement for children, as defined in s. 48.743
15(1), a foster home, as defined in s. 48.02 (6), a treatment foster home, as defined in
16s. 48.02 (17q),
or an adult family home, as defined in s. 50.01 (1) (a) or (b), in any town
17shall be subject to the following criteria:
AB75-SSA1, s. 1455 18Section 1455. 60.63 (3) of the statutes is amended to read:
AB75-SSA1,677,2419 60.63 (3) A foster home or a treatment foster home that is the primary domicile
20of a foster parent or treatment foster parent and that is licensed under s. 48.62 or an
21adult family home certified under s. 50.032 (1m) (b) shall be a permitted use in all
22residential areas and is not subject to subs. (1) and (2) except that foster homes and
23treatment foster homes
operated by corporations, child welfare agencies, churches,
24associations, or public agencies shall be subject to subs. (1) and (2).
AB75-SSA1, s. 1456 25Section 1456. 60.85 (6) (am) of the statutes is created to read:
AB75-SSA1,678,4
160.85 (6) (am) With regard to each district for which the department of revenue
2authorizes the allocation of a tax increment under par. (a), the department shall
3charge the town that created the district an annual administrative fee of $150 that
4the town shall pay to the department no later than May 15.
AB75-SSA1, s. 1457 5Section 1457. 62.23 (7) (i) (intro.) of the statutes is amended to read:
AB75-SSA1,678,116 62.23 (7) (i) Community and other living arrangements. (intro.) For purposes
7of this section, the location of a community living arrangement for adults, as defined
8in s. 46.03 (22), a community living arrangement for children, as defined in s. 48.743
955(1), a foster home, as defined in s. 48.02 (6), a treatment foster home, as defined
10in s. 48.02 (17q), or an adult family home, as defined in s. 50.01 (1) (a) or (b), in any
11city shall be subject to the following criteria:
AB75-SSA1, s. 1458 12Section 1458 . 62.23 (7) (i) (intro.) of the statutes, as affected by 2009 Wisconsin
13Act .... (this act), is amended to read:
AB75-SSA1,678,1914 62.23 (7) (i) Community and other living arrangements. (intro.) For purposes
15of this section, the location of a community living arrangement for adults, as defined
16in s. 46.03 (22), a community living arrangement for children, as defined in s. 48.743
17(1), a foster home, as defined in s. 48.02 (6), a treatment foster home, as defined in
18s. 48.02 (17q),
or an adult family home, as defined in s. 50.01 (1) (a) or (b), in any city
19shall be subject to the following criteria:
AB75-SSA1, s. 1459 20Section 1459. 62.23 (7) (i) 2m. of the statutes is amended to read:
AB75-SSA1,679,221 62.23 (7) (i) 2m. A foster home or treatment foster home that is the primary
22domicile of a foster parent or treatment foster parent and that is licensed under s.
2348.62 or an adult family home certified under s. 50.032 (1m) (b) shall be a permitted
24use in all residential areas and is not subject to subds. 1. and 2. except that foster

1homes and treatment foster homes operated by corporations, child welfare agencies,
2churches, associations, or public agencies shall be subject to subds. 1. and 2.
AB75-SSA1, s. 1460 3Section 1460. 62.62 of the statutes is created to read:
AB75-SSA1,679,5 462.62 Appropriation bonds for payment of employee retirement
5system liability in 1st class cities.
(1) Definitions. In this section:
AB75-SSA1,679,86 (a) "Appropriation bond" means a bond issued by a city to evidence its
7obligation to repay a certain amount of borrowed money that is payable from all of
8the following:
AB75-SSA1,679,109 1. Moneys annually appropriated by law for debt service due with respect to
10such appropriation bond in that year.
AB75-SSA1,679,1111 2. Proceeds of the sale of such appropriation bonds.
AB75-SSA1,679,1312 3. Payments received for that purpose under agreements and ancillary
13arrangements described in s. 62.621.
AB75-SSA1,679,1414 4. Investment earnings on amounts in subds. 1. to 3.
AB75-SSA1,679,1615 (b) "Bond" means any bond, note, or other obligation of a city issued under this
16section.
AB75-SSA1,679,1717 (c) "City" means a 1st class city.
AB75-SSA1,679,1818 (d) "Common Council" means the common council of a city.
AB75-SSA1,679,2019 (e) "Refunding bond" means an appropriation bond issued to fund or refund all
20or any part of one or more outstanding pension-related bonds.
AB75-SSA1,680,2 21(1m) Legislative finding and determination. Recognizing that a city, by
22prepaying part or all of the city's unfunded prior service liability with respect to an
23employee retirement system of the city, may reduce its costs and better ensure the
24timely and full payment of retirement benefits to participants and their beneficiaries
25under the employee retirement system, the legislature finds and determines that it

1is in the public interest for the city to issue appropriation bonds to obtain proceeds
2to pay its unfunded prior service liability.
AB75-SSA1,680,5 3(2) Authorization of appropriation bonds. (a) A common council shall have
4all powers necessary and convenient to carry out its duties, and to exercise its
5authority, under this section.
AB75-SSA1,680,136 (b) Subject to pars. (c) and (d), a common council may issue appropriation bonds
7under this section to pay all or any part of the city's unfunded prior service liability
8with respect to an employee retirement system of the city, or to fund or refund
9outstanding appropriation bonds issued under this section. A city may use proceeds
10of appropriation bonds to pay issuance or administrative expenses, to make deposits
11to reserve funds, to pay accrued or funded interest, to pay the costs of credit
12enhancement, to make payments under other agreements entered into under s.
1362.621, or to make deposits to stabilization funds established under s. 62.621.
AB75-SSA1,680,1514 (c) Other than refunding bonds issued under sub. (6), all bonds must be issued
15simultaneously.
AB75-SSA1,681,216 (d) 1. Before a city may issue appropriation bonds under par. (b), its common
17council shall enact an ordinance that establishes a 5-year strategic and financial
18plan related to the payment of all or any part of the city's unfunded prior service
19liability with respect to an employee retirement system of the city. The strategic and
20financial plan shall provide that future annual pension liabilities are funded on a
21current basis. The strategic and financial plan shall contain quantifiable
22benchmarks to measure compliance with the plan. The common council shall make
23a determination that the ordinance meets the requirements of this subdivision and,
24absent manifest error, the common council's determination shall be conclusive. The
25common council shall submit to the governor and to the chief clerk of each house of

1the legislature, for distribution to the legislature under s. 13.172 (2), a copy of the
2strategic and financial plan.
AB75-SSA1,681,63 2. Annually, the city shall submit to the governor, the department of revenue,
4and the department of administration, and to the chief clerk of each house of the
5legislature, for distribution to the legislature under s. 13.172 (2), a report that
6includes all of the following:
AB75-SSA1,681,87 a. The city's progress in meeting the benchmarks in the strategic and financial
8plan.
AB75-SSA1,681,99 b. Any proposed modifications to the plan.
AB75-SSA1,681,1010 c. The status of any stabilization fund that is established under s. 62.622 (3).
AB75-SSA1,681,1211 d. The most current actuarial report related to the city's employee retirement
12system.
AB75-SSA1,681,1613 e. The amount, if any, by which the city's contributions to the employee
14retirement system for the prior year is less than the normal cost contribution for that
15year as specified in the initial actuarial report for the city's employee retirement
16system for that year.
AB75-SSA1,681,1817 f. The amount that the actuary determines is the city's required contribution
18to the employee retirement system for that year.
AB75-SSA1,682,2 19(2m) Penalty for inadequate contribution. If the city's contributions to the
20employee retirement system for the prior year is less than the lower of the required
21contribution for that year, as described in sub. (2) (d) 2. f., or the normal cost for that
22year, the department of revenue shall reduce and withhold the amount of the shared
23revenue payments to the city under subch. I of ch. 79, in the following year, by an
24amount equal to the difference between the required cost contribution for that prior
25year and the city's actual contribution in that prior year. The department of revenue

1shall deposit the amount of the reduced and withheld shared revenue payment into
2the city's employee retirement system.
AB75-SSA1,682,11 3(3) Terms. (a) A city may borrow moneys and issue appropriation bonds in
4evidence of the borrowing pursuant to one or more written authorizing resolutions
5under sub. (4). Unless otherwise provided in an authorizing resolution, the city may
6issue appropriation bonds at any time, in any specific amounts, at any rates of
7interest, for any term, payable at any intervals, at any place, in any manner, and
8having any other terms or conditions that the common council considers necessary
9or desirable. Appropriation bonds may bear interest at variable or fixed rates, bear
10no interest, or bear interest payable only at maturity or upon redemption prior to
11maturity.
AB75-SSA1,682,1412 (b) The common council may authorize appropriation bonds having any
13provisions for prepayment the common council considers necessary or desirable,
14including the payment of any premium.
AB75-SSA1,682,1715 (c) Interest shall cease to accrue on an appropriation bond on the date that the
16appropriation bond becomes due for payment if payment is made or duly provided
17for.
AB75-SSA1,682,2018 (d) All moneys borrowed by a city that is evidenced by appropriation bonds
19issued under this section shall be lawful money of the United States, and all
20appropriation bonds shall be payable in such money.
AB75-SSA1,683,221 (e) All appropriation bonds owned or held by a fund of the city are outstanding
22in all respects, and the common council or other governing body controlling the fund
23shall have the same rights with respect to an appropriation bond as a private party,
24but if any sinking fund acquires appropriation bonds that gave rise to such fund, the

1appropriation bonds are considered paid for all purposes and no longer outstanding
2and shall be canceled as provided in sub. (7) (d).
AB75-SSA1,683,73 (f) A city shall not be generally liable on appropriation bonds, and
4appropriation bonds shall not be a debt of the city for any purpose whatsoever.
5Appropriation bonds, including the principal thereof and interest thereon, shall be
6payable only from amounts that the common council may, from year to year,
7appropriate for the payment thereof.
AB75-SSA1,683,14 8(4) Procedures. (a) No appropriation bonds may be issued by a city unless the
9issuance is pursuant to a written authorizing resolution adopted by a majority of a
10quorum of the common council. The resolution may be in the form of a resolution or
11trust indenture, and shall set forth the aggregate principal amount of appropriation
12bonds authorized thereby, the manner of their sale, and the form and terms thereof.
13The resolution or trust indenture may establish such funds and accounts, including
14a reserve fund, as the common council determines.
AB75-SSA1,683,1815 (b) Appropriation bonds may be sold at either public or private sale and may
16be sold at any price or percentage of par value. All appropriation bonds sold at public
17sale shall be noticed as provided in the authorizing resolution. Any bid received at
18public sale may be rejected.
AB75-SSA1,683,21 19(5) Form. (a) As determined by the common council, appropriation bonds may
20be issued in book-entry form or in certificated form. Notwithstanding s. 403.104 (1),
21every evidence of appropriation bond is a negotiable instrument.
AB75-SSA1,684,422 (b) Every appropriation bond shall be executed in the name of and for the city
23by the president of the common council and city clerk, and shall be sealed with the
24seal of the city, if any. Facsimile signatures of either officer may be imprinted in lieu
25of manual signatures, but the signature of at least one such officer shall be manual.

1An appropriation bond bearing the manual or facsimile signature of a person in office
2at the same time the signature was signed or imprinted shall be fully valid
3notwithstanding that before or after the delivery of such appropriation bond the
4person ceased to hold such office.
AB75-SSA1,684,85 (c) Every appropriation bond shall be dated not later than the date it is issued,
6shall contain a reference by date to the appropriate authorizing resolution, shall
7state the limitation established in sub. (3) (f), and shall be in accordance with the
8appropriate authorizing resolution in all respects.
AB75-SSA1,684,119 (d) An appropriation bond shall be substantially in such form and contain such
10statements or terms as determined by the common council, and may not conflict with
11law or with the appropriate authorizing resolution.
AB75-SSA1,685,4 12(6) Refunding bonds. (a) 1. A common council may authorize the issuance of
13refunding appropriation bonds. Refunding appropriation bonds may be issued,
14subject to any contract rights vested in owners of the appropriation bonds being
15refunded, to refund all or any part of one or more issues of appropriation bonds
16notwithstanding that the appropriation bonds may have been issued at different
17times or issues of general obligation promissory notes under s. 67.12 (12) were issued
18to pay unfunded prior service liability with respect to an employee retirement
19system. The principal amount of the refunding appropriation bonds may not exceed
20the sum of: the principal amount of the appropriation bonds or general obligation
21promissory notes being refunded; applicable redemption premiums; unpaid interest
22on the refunded appropriation bonds or general obligation promissory notes to the
23date of delivery or exchange of the refunding appropriation bonds; in the event the
24proceeds are to be deposited in trust as provided in par. (c), interest to accrue on the
25appropriation bonds or general obligation promissory notes to be refunded from the

1date of delivery to the date of maturity or to the redemption date selected by the
2common council, whichever is earlier; and the expenses incurred in the issuance of
3the refunding appropriation bonds and the payment of the refunded appropriation
4bonds or general obligation promissory notes.
AB75-SSA1,685,75 2. A common council may authorize the issuance of general obligation
6promissory notes under s. 67.12 (12) (a) to refund appropriation bonds,
7notwithstanding s. 67.01 (9) (intro.).
AB75-SSA1,685,218 (b) If a common council determines to exchange refunding appropriation bonds,
9they may be exchanged privately for, and in payment and discharge of, any of the
10outstanding appropriation bonds being refunded. Refunding appropriation bonds
11may be exchanged for such principal amount of the appropriation bonds being
12exchanged therefor as may be determined by the common council to be necessary or
13desirable. The owners of the appropriation bonds being refunded who elect to
14exchange need not pay accrued interest on the refunding appropriation bonds if and
15to the extent that interest is accrued and unpaid on the appropriation bonds being
16refunded and to be surrendered. If any of the appropriation bonds to be refunded are
17to be called for redemption, the common council shall determine which redemption
18dates are to be used, if more than one date is applicable and shall, prior to the
19issuance of the refunding appropriation bonds, provide for notice of redemption to be
20given in the manner and at the times required by the resolution authorizing the
21appropriation bonds to be refunded.
AB75-SSA1,686,222 (c) 1. The principal proceeds from the sale of any refunding appropriation bonds
23shall be applied either to the immediate payment and retirement of the
24appropriation bonds or general obligation promissory notes being refunded or, if the
25bonds or general obligation promissory notes have not matured and are not presently

1redeemable, to the creation of a trust for, and shall be pledged to the payment of, the
2appropriation bonds or general obligation promissory notes being refunded.
AB75-SSA1,686,243 2. If a trust is created, a separate deposit shall be made for each issue of
4appropriation bonds or general obligation promissory notes being refunded. Each
5deposit shall be with a bank or trust company authorized by the laws of the United
6States or of a state in which it is located to conduct banking or trust company
7business. If the total amount of any deposit, including moneys other than sale
8proceeds but legally available for such purpose, is less than the principal amount of
9the appropriation bonds or general obligation promissory notes being refunded and
10for the payment of which the deposit has been created and pledged, together with
11applicable redemption premiums and interest accrued and to accrue to maturity or
12to the date of redemption, then the application of the sale proceeds shall be legally
13sufficient only if the moneys deposited are invested in securities issued by the United
14States or one of its agencies, or securities fully guaranteed by the United States, and
15only if the principal amount of the securities at maturity and the income therefrom
16to maturity will be sufficient and available, without the need for any further
17investment or reinvestment, to pay at maturity or upon redemption the principal
18amount of the appropriation bonds or general obligation promissory notes being
19refunded together with applicable redemption premiums and interest accrued and
20to accrue to maturity or to the date of redemption. The income from the principal
21proceeds of the securities shall be applied solely to the payment of the principal of
22and interest and redemption premiums on the appropriation bonds or general
23obligation promissory notes being refunded, but provision may be made for the
24pledging and disposition of any surplus.
AB75-SSA1,687,7
13. Nothing in this paragraph may be construed as a limitation on the duration
2of any deposit in trust for the retirement of appropriation bonds or general obligation
3promissory notes being refunded that have not matured and that are not presently
4redeemable. Nothing in this paragraph may be constructed to prohibit reinvestment
5of the income of a trust if the reinvestments will mature at such times that sufficient
6moneys will be available to pay interest, applicable premiums, and principal on the
7appropriation bonds or general obligation promissory notes being refunded.
AB75-SSA1,687,19 8(7) Fiscal regulations. (a) All appropriation bonds shall be registered by the
9city clerk or city treasurer of the city issuing the appropriation bonds, or such other
10officers or agents, including fiscal agents, as the common council may determine.
11After registration, no transfer of an appropriation bond is valid unless made by the
12registered owner's duly authorized attorney, on the records of the city and similarly
13noted on the appropriation bond. The city may treat the registered owner as the
14owner of the appropriation bond for all purposes. Payments of principal and interest
15shall be by electronic funds transfer, check, share draft, or other draft to the
16registered owner at the owner's address as it appears on the register, unless the
17common council has otherwise provided. Information in the register is not available
18for inspection and copying under s. 19.35 (1). The common council may make any
19other provision respecting registration as it considers necessary or desirable.
AB75-SSA1,688,720 (b) The common council may appoint one or more trustees or fiscal agents for
21each issue of appropriation bonds. The city treasurer may be designated as the
22trustee and the sole fiscal agent or as cofiscal agent for any issue of appropriation
23bonds. Every other fiscal agent shall be an incorporated bank or trust company
24authorized by the laws of the United States or of the state in which it is located to
25conduct banking or trust company business. There may be deposited with a trustee,

1in a special account, moneys to be used only for the purposes expressly provided in
2the resolution authorizing the issuance of appropriation bonds or an agreement
3between the city and the trustee. The common council may make other provisions
4respecting trustees and fiscal agents as the common council considers necessary or
5desirable and may enter into contracts with any trustee or fiscal agent containing
6such terms, including compensation, and conditions in regard to the trustee or fiscal
7agent as the common council considers necessary or desirable.
AB75-SSA1,688,148 (c) If any appropriation bond is destroyed, lost, or stolen, the city shall execute
9and deliver a new appropriation bond, upon filing with the common council evidence
10satisfactory to the common council that the appropriation bond has been destroyed,
11lost, or stolen, upon providing proof of ownership thereof, and upon furnishing the
12common council with indemnity satisfactory to it and complying with such other
13rules of the city and paying any expenses that the city may incur. The common
14council shall cancel the appropriation bond surrendered to the city.
AB75-SSA1,688,1815 (d) Unless otherwise directed by the common council, every appropriation bond
16paid or otherwise retired shall be marked "canceled" and delivered to the city
17treasurer, or to such other fiscal agent as applicable with respect to the appropriation
18bond, who shall destroy them and deliver a certificate to that effect to the city clerk.
AB75-SSA1,688,21 19(8) Appropriation bonds as legal investments. Any of the following may
20legally invest any sinking funds, moneys, or other funds belonging to them or under
21their control in any appropriation bonds issued under this section:
AB75-SSA1,688,2322 (a) The state, the investment board, public officers, municipal corporations,
23political subdivisions, and public bodies.
AB75-SSA1,689,224 (b) Banks and bankers, savings and loan associations, credit unions, trust
25companies, savings banks and institutions, investment companies, insurance

1companies, insurance associations, and other persons carrying on a banking or
2insurance business.
AB75-SSA1,689,33 (c) Personal representatives, guardians, trustees, and other fiduciaries.
AB75-SSA1,689,13 4(9) Moral obligation pledge. If the common council considers it necessary or
5desirable to do so, it may express in a resolution authorizing appropriation bonds its
6expectation and aspiration to make timely appropriations sufficient to pay the
7principal and interest due with respect to such appropriation bonds, to make
8deposits into a reserve fund created under sub. (4) (a) with respect to such
9appropriation bonds, to make payments under any agreement or ancillary
10arrangement entered into under s. 62.621 with respect to such appropriation bonds,
11to make deposits into any stabilization fund established or continued under s. 62.622
12with respect to such appropriation bonds, or to pay related issuance or
13administrative expenses.
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