SB442,28,13 13(1) By a law enacted by this state.
SB442,28,15 14(2) If the sponsoring city is not a 1st class city, by the unanimous action of the
15district board.
SB442,28,17 16(3) If the sponsoring city is a 1st class city, by any means described in the initial
17resolution under which the 1st class city created the district.
SB442,29,2 18229.848 Transfers; transfer agreements. (1) If a district is dissolved under
19s. 229.847, the property of the district shall be transferred either to the sponsoring
20city or to an entity described either in section 170 (c) (1) or in both sections 170 (c)
21(2) and 501 (c) (3) of the Internal Revenue Code. If the sponsoring city is a 1st class
22city, the specific entity to which the district's property shall be transferred upon
23dissolution shall be specified in the initial resolution under which the 1st class city
24created the district. If the sponsoring city is not a 1st class city, the district board

1shall determine the entity to which the district's property shall be transferred upon
2dissolution.
SB442,29,8 3(2) A sponsoring city and a district board may enter into a transfer agreement
4to provide the terms and conditions upon which the sponsoring city or the district
5board may transfer any interests in an existing or proposed cultural arts facility, or
6any other property interests owned by either party, to the other party to the
7agreement. A transfer may take the form of a sale, lease, or other conveyance and
8may be with or without financial consideration.
SB442,29,16 9229.849 District bonds and debt not public debt. (1) Neither the state nor
10the sponsoring city is liable on bonds or other debt of the district and the bonds and
11other debt of the district are not a debt of the state or the sponsoring city. All bonds
12and other debt of the district shall contain on the face of the bond or the debt
13instrument a statement to this effect. The issuance of bonds or the incurrence of
14other debt by the district shall not, directly or indirectly or contingently, obligate the
15state or the sponsoring city to levy any form of taxation therefor or to make any
16appropriation for the payment of the bonds or other debt.
SB442,30,3 17(2) Nothing in this subchapter authorizes the district to create a debt of the
18state or the sponsoring city, and all bonds issued by the district and all other debt
19incurred by the district are payable, and shall state that they are payable, solely from
20the funds pledged for their payment in accordance with the resolution authorizing
21their issuance or incurrence or in any trust indenture or mortgage or deed of trust
22executed as security for the bonds or other debt. Neither the state nor the sponsoring
23city shall in any event be liable for the payment of the principal of or interest on any
24bonds or other debt of the district or for the performance of any pledge, mortgage,
25obligation or agreement that may be undertaken by the district. No breach of any

1such pledge, mortgage, obligation or agreement may impose any pecuniary liability
2upon the state or the sponsoring city or any charge upon the state's or the sponsoring
3city's general credit or against the state's or the sponsoring city's taxing power.
SB442,30,9 4229.850 Special fund for payment of principal and interest costs on
5certain bonds.
The district may maintain a special fund into which it deposits any
6income or property of the district that is used for the payment of principal and
7interest costs of bonds issued by the district or by the Wisconsin Health and
8Educational Facilities Authority or by a community development authority created
9under s. 66.4325 for purposes related to the district.
SB442,30,18 10229.851 State pledge. The state pledges to and agrees with the holders of any
11bond issued by the district or other debt incurred by the district, and with those
12parties who may enter into contracts with the district, that the state will not limit
13or alter the rights vested in the district by this subchapter until such bonds or other
14debt, together with the interest on the bonds and other debt, are fully met and
15discharged and such contracts are fully performed on the part of the district, but
16nothing shall preclude such a limitation or alteration if adequate provision is made
17by law for the protection of the holders of such bonds or other debt or those entering
18into such contracts.
SB442,30,20 19229.852 Pledge of revenues. A district may pledge the revenues derived, or
20to be derived, from any cultural arts facility for any of the following purposes:
SB442,30,21 21(1) The payment of administrative costs and expenses of the district.
SB442,30,23 22(2) The payment of the principal of, the premium on, if any, and the interest
23on outstanding bonds and other debt of the district.
SB442,30,25 24(3) The creation and maintenance of a special fund or reserves with respect to
25bonds issued by the district.
SB442,31,8
1229.853 Trust funds. All moneys received by the district under this
2subchapter, whether as proceeds from the issuance of bonds or the incurrence of
3other debt or as revenues, shall be considered to be trust funds to be held and applied
4solely as provided in this subchapter. Any officer with whom, or any bank or trust
5company with which, the moneys are deposited shall act as trustee of the moneys and
6shall hold and apply the same for the purposes of this subchapter, subject to such
7regulations as this subchapter and any bond resolution or debt agreement
8authorizing the bonds or debt may provide.
SB442,31,13 9229.854 Sponsoring city employment regulations. Any ordinance of a
10sponsoring city that regulates employment relations or practices of all private
11employers, generally, shall apply to employes of the district, unless the sponsoring
12city's common council excludes the application of such an ordinance to the district's
13employes.
SB442, s. 41 14Section 41. 230.03 (3) of the statutes is amended to read:
SB442,31,2315 230.03 (3) "Agency" means any board, commission, committee, council or
16department in the state government or a unit thereof created by the constitution or
17statutes if such board, commission, committee, council, department, unit or the head
18thereof, is authorized to appoint subordinate staff by the constitution or statute,
19except a legislative or judicial board, commission, committee, council, department or
20unit thereof or an authority created under ch. 231, 232, 233, 234 or 235. "Agency"
21does not mean any local unit of government or body within one or more local units
22of government that is created by law or by action of one or more local units of
23government.
SB442, s. 42 24Section 42. 231.01 (4) (a) of the statutes is amended to read:
SB442,32,7
1231.01 (4) (a) "Cost" means the sum of all costs incurred by a participating
2health institution, participating educational institution, participating cultural arts
3district
or participating child care provider, as approved by the authority, as are
4reasonable and necessary to accomplish the project, exclusive of any private or
5federal, state or local financial assistance received by the participating health
6institution, participating educational institution, participating cultural arts district
7or participating child care provider for the payment of the project cost.
SB442, s. 43 8Section 43. 231.01 (4) (b) 1. of the statutes is amended to read:
SB442,32,169 231.01 (4) (b) 1. The cost incurred by or on behalf of the participating health
10institution, participating educational institution, participating cultural arts district
11or participating child care provider of all necessary developmental, planning and
12feasibility studies, surveys, plans and specifications, architectural, engineering,
13legal or other special services, the cost of acquisition of land and any buildings and
14improvements on the land, site preparation and development including demolition
15or removal of existing structures, construction, reconstruction and equipment,
16including machinery, fixed equipment and personal property.
SB442, s. 44 17Section 44. 231.01 (4) (b) 2. of the statutes is amended to read:
SB442,32,2118 231.01 (4) (b) 2. The reasonable cost of financing incurred by a participating
19health institution, participating educational institution, participating cultural arts
20district
or participating child care provider in the course of the development of the
21project to the occupancy date.
SB442, s. 45 22Section 45. 231.01 (4) (c) of the statutes is amended to read:
SB442,33,523 231.01 (4) (c) All rents and other net revenues from the operation of the real
24property, improvements or personal property on the project site by a participating
25health institution, participating educational institution, participating cultural arts

1district
or participating child care provider on and after the date on which the
2contract between a participating health institution, participating educational
3institution, participating cultural arts district or participating child care provider
4and the authority was entered into, but prior to the occupancy date, shall reduce the
5sum of all costs in this subsection.
SB442, s. 46 6Section 46. 231.01 (4g) of the statutes is created to read:
SB442,33,87 231.01 (4g) "Cultural arts district" means a local cultural arts district created
8under subch. V of ch. 229.
SB442, s. 47 9Section 47. 231.01 (4h) of the statutes is created to read:
SB442,33,1010 231.01 (4h) "Cultural arts facility" has the meaning given in s. 229.841 (5).
SB442, s. 48 11Section 48. 231.01 (5t) of the statutes is created to read:
SB442,33,1512 231.01 (5t) "Participating cultural arts district" means a cultural arts district
13that undertakes the financing and construction or acquisition of a project or
14undertakes the refunding or refinancing of obligations or of a mortgage or of
15advances as provided in this chapter.
SB442, s. 49 16Section 49. 231.01 (7) (a) 1. of the statutes is amended to read:
SB442,33,2017 231.01 (7) (a) 1. A specific health facility, educational facility, cultural arts
18facility
or child care center work or improvement to be refinanced, acquired,
19constructed, enlarged, remodeled, renovated, improved, furnished or equipped by
20the authority with funds provided in whole or in part under this chapter.
SB442, s. 50 21Section 50. 231.01 (7) (a) 2. of the statutes is amended to read:
SB442,34,222 231.01 (7) (a) 2. One or more structures suitable for use as a child care center,
23health facility, cultural arts facility, laboratory, laundry, nurses' or interns' residence
24or other multi-unit housing facility for staff, employes, patients or relatives of

1patients admitted for treatment or care in a health facility, physician's facility,
2administration building, research facility, maintenance, storage or utility facility.
SB442, s. 51 3Section 51. 231.01 (7) (a) 4. of the statutes is amended to read:
SB442,34,74 231.01 (7) (a) 4. Any structure useful for the operation of a health facility,
5educational facility, cultural arts facility or child care center, including facilities or
6supporting service structures essential or convenient for the orderly conduct of the
7health facility, educational facility, cultural arts facility or child care center.
SB442, s. 52 8Section 52. 231.01 (7) (c) of the statutes is amended to read:
SB442,34,139 231.01 (7) (c) "Project" may include any combination of projects undertaken
10jointly by any participating health institution, participating educational institution,
11participating cultural arts district
or participating child care provider with one or
12more other participating health institutions, participating educational institutions,
13participating cultural arts districts
or participating child care providers.
SB442, s. 53 14Section 53. 231.02 (6) (b) of the statutes is amended to read:
SB442,35,1515 231.02 (6) (b) Notwithstanding any other provision of law, it is not a conflict
16of interest or violation of this section or of any other law for a trustee, director, officer
17or employe of a participating health institution, participating educational
18institution, participating cultural arts district or participating child care provider or
19for a person having the required favorable reputation for skill, knowledge and
20experience in state and municipal finance or for a person having the required
21favorable reputation for skill, knowledge and experience in the field of health facility,
22educational facility, cultural arts facility or child care center architecture to serve as
23a member of the authority; if in each case to which par. (a) is applicable, the trustee,
24director, officer or employe of the participating health institution, participating
25educational institution, participating cultural arts district or participating child

1care provider abstains from discussion, deliberation, action and vote by the authority
2in specific respect to any undertaking pursuant to this chapter in which his or her
3participating health institution, participating educational institution , participating
4cultural arts district
or participating child care provider has an interest, or the
5person having the required favorable reputation for skill, knowledge and experience
6in state and municipal finance abstains from discussion, deliberation, action and
7vote by the authority in specific respect to any sale, purchase or ownership of bonds
8of the authority in which any business of which such person is a participant, owner,
9officer or employe has a past, current or future interest, or such person having the
10required favorable reputation for skill, knowledge and experience in the field of
11health facility, educational facility, cultural arts facility or child care center
12architecture abstains from discussion, deliberation, action and vote by the authority
13in specific respect to construction or acquisition of any project of the authority in
14which any business of which such person is a participant, owner, officer or employe
15has a past, current or future interest.
SB442, s. 54 16Section 54. 231.03 (5) of the statutes is amended to read:
SB442,36,717 231.03 (5) Determine the location and character of any project to be financed
18under this chapter, and construct, reconstruct, remodel, maintain, enlarge, alter, add
19to, repair, lease as lessee or lessor and regulate the same, enter into contracts for any
20such purpose, enter into contracts for the management and operation of a project or
21other health facilities, educational facilities, cultural arts facilities or child care
22centers owned by the authority, and designate a participating health institution,
23participating educational institution, participating cultural arts district or
24participating child care provider as its agent to determine the location and character
25of a project undertaken by the participating health institution, participating

1educational institution, participating cultural arts district or participating child
2care provider under this chapter and as the agent of the authority, to construct,
3reconstruct, remodel, maintain, manage, enlarge, alter, add to, repair, operate, lease
4as lessee or lessor and regulate the same, and as the agent of the authority, to enter
5into contracts for any such purpose, including contracts for the management and
6operation of such project or other health facilities, educational facilities, cultural arts
7facilities
or child care centers owned by the authority.
SB442, s. 55 8Section 55. 231.03 (6) (g) of the statutes is created to read:
SB442,36,99 231.03 (6) (g) Finance any project undertaken for a cultural arts facility.
SB442, s. 56 10Section 56. 231.03 (6) (h) of the statutes is created to read:
SB442,36,1211 231.03 (6) (h) Refinance outstanding debt of any participating cultural arts
12district.
SB442, s. 57 13Section 57. 231.03 (7) of the statutes is amended to read:
SB442,36,2014 231.03 (7) Fix and revise from time to time and charge and collect rates, rents,
15fees and charges for the use of and for the services furnished or to be furnished by
16a project or other health facilities, educational facilities, cultural arts facilities or
17child care centers owned by the authority or any portion thereof, contract with any
18person in respect thereto and coordinate its policies and procedures and cooperate
19with recognized health facility, educational facility, cultural arts facility or child care
20center rate setting mechanisms.
SB442, s. 58 21Section 58. 231.03 (8) of the statutes is amended to read:
SB442,37,1022 231.03 (8) Adopt rules for the use of a project or other health facility,
23educational facility, cultural arts facility or child care center or any portion of the
24project or facility owned, financed or refinanced in whole or in part by the authority,
25including any property used as security for a loan secured through, from or with the

1assistance of the authority. The authority may designate a participating health
2institution, participating educational institution, participating cultural arts district
3or participating child care provider as its agent to establish rules for the use of a
4project or other health facilities, educational facilities, cultural arts facilities or child
5care centers undertaken for that participating health institution, participating
6educational institution, participating cultural arts district or participating child
7care provider. The rules shall ensure that a project, health facility, educational
8facility, cultural arts facility, child care center or property may not be used primarily
9for sectarian instruction or study or as a place for devotional activities or religious
10worship.
SB442, s. 59 11Section 59. 231.03 (11) of the statutes is amended to read:
SB442,37,2312 231.03 (11) Establish or contract with others to carry out on its behalf a health
13facility, educational facility, cultural arts facility or child care center project cost
14estimating service, and make this service available on all projects to provide expert
15cost estimates and guidance to the participating health institution, participating
16educational institution, participating cultural arts district or participating child
17care provider and to the authority. To implement this service and, through it, to
18contribute to cost containment, the authority may require such reasonable reports
19and documents from health facility, educational facility, cultural arts facility or child
20care center projects as are required for this service and for the development of cost
21reports and guidelines. The authority shall appoint a technical committee on health
22facility, educational facility, cultural arts facility or child care center project costs and
23cost containment.
SB442, s. 60 24Section 60. 231.03 (13) of the statutes is amended to read:
SB442,38,13
1231.03 (13) Make loans to any participating health institution, participating
2educational institution, participating cultural arts district or, before May 1, 2000,
3participating child care provider for the cost of a project in accordance with an
4agreement between the authority and the participating health institution,
5participating educational institution, participating cultural arts district or
6participating child care provider. The authority may secure the loan by a mortgage
7or other security arrangement on the health facility, educational facility, cultural
8arts facility
or child care center granted by the participating health institution,
9participating educational institution, participating cultural arts district or
10participating child care provider to the authority. The loan may not exceed the total
11cost of the project as determined by the participating health institution,
12participating educational institution, participating cultural arts district or
13participating child care provider and approved by the authority.
SB442, s. 61 14Section 61. 231.03 (14) of the statutes is amended to read:
SB442,38,2215 231.03 (14) Make loans to a health facility, educational facility, cultural arts
16facility
or, before May 1, 2000, child care center for which bonds may be issued under
17sub. (6) (b), (d) or, (f) or (h) to refinance the health facility's, educational facility's ,
18cultural arts facility's
or child care center's outstanding debt. The authority may
19secure the loan or bond by a mortgage or other security arrangement on the health
20facility, educational facility, cultural arts facility or child care center granted by the
21participating health institution, participating educational institution , participating
22cultural arts district
or participating child care provider to the authority.
SB442, s. 62 23Section 62. 231.03 (15) of the statutes is amended to read:
SB442,39,624 231.03 (15) Mortgage all or any portion of a project and other health facilities,
25educational facilities, cultural arts facilities or child care centers and the site thereof,

1whether owned or thereafter acquired, for the benefit of the holders of bonds issued
2to finance the project, health facilities, educational facilities, cultural arts facilities
3or child care centers or any portion thereof or issued to refund or refinance
4outstanding indebtedness of participating health institutions, educational
5institutions, participating cultural arts districts or child care providers as permitted
6by this chapter.
SB442, s. 63 7Section 63. 231.03 (16) of the statutes is amended to read:
SB442,39,258 231.03 (16) Lease to a participating health institution, participating
9educational institution, participating cultural arts district or participating child
10care provider the project being financed or other health facilities, educational
11facilities, cultural arts facilities or child care centers conveyed to the authority in
12connection with such financing, upon such terms and conditions as the authority
13deems proper, and charge and collect rents therefor and terminate any such lease
14upon the failure of the lessee to comply with any of the obligations thereof; and
15include in any such lease, if desired, provisions that the lessee thereof shall have
16options to renew the term of the lease for such periods and at such rent as the
17authority determines or to purchase all or any part of the health facilities,
18educational facilities, cultural arts facilities or child care centers or that, upon
19payment of all of the indebtedness incurred by the authority for the financing of such
20project or health facilities, educational facilities, cultural arts facilities or child care
21centers or for refunding outstanding indebtedness of a participating health
22institution, participating educational institution, participating cultural arts district
23or participating child care provider, the authority may convey all or any part of the
24project or such other health facilities, educational facilities, cultural arts facilities or
25child care centers to the lessees thereof with or without consideration.
SB442, s. 64
1Section 64. 231.03 (17) of the statutes is amended to read:
SB442,40,52 231.03 (17) Charge to and apportion among participating health institutions,
3participating educational institutions, participating cultural arts districts and
4participating child care providers its administrative costs and expenses incurred in
5the exercise of the powers and duties conferred by this chapter.
SB442, s. 65 6Section 65. 231.03 (18) of the statutes is amended to read:
SB442,40,127 231.03 (18) Make studies of needed health facilities, educational facilities,
8cultural arts facilities
and child care centers that could not sustain a loan were it
9made under this chapter and recommend remedial action to the legislature; and do
10the same with regard to any laws or rules that prevent health facilities, educational
11facilities, cultural arts facilities and child care centers from benefiting from this
12chapter.
SB442, s. 66 13Section 66. 231.03 (19) of the statutes is amended to read:
SB442,40,2414 231.03 (19) Obtain, or aid in obtaining, from any department or agency of the
15United States or of this state or any private company, any insurance or guaranty
16concerning the payment or repayment of, interest or principal, or both, or any part
17thereof, on any loan, lease or obligation or any instrument evidencing or securing the
18same, made or entered into under the provisions of this chapter; and
19notwithstanding any other provisions of this chapter, to enter into any agreement,
20contract or any other instrument with respect to that insurance or guaranty, to
21accept payment in the manner and form provided therein in the event of default by
22a participating health institution, participating educational institution,
23participating cultural arts district
or participating child care provider, and to assign
24the insurance or guaranty as security for the authority's bonds.
SB442, s. 67 25Section 67. 231.04 of the statutes is amended to read:
SB442,41,13
1231.04 Expenses. All expenses of the authority incurred in carrying out this
2chapter shall be payable solely from funds provided under the authority of this
3chapter, and no liability may be incurred by the authority beyond the extent to which
4moneys have been provided under this chapter except that, for the purposes of
5meeting the necessary expenses of initial organization and operation of the authority
6for the period commencing on June 19, 1974 and continuing until such date as the
7authority derives moneys from funds provided to it under the authority of this
8chapter, the authority may borrow such moneys as it requires to supplement the
9funds provided under s. 20.440. Such moneys borrowed by the authority shall
10subsequently be charged to and apportioned among participating health
11institutions, participating educational institutions, participating cultural arts
12districts
and participating child care providers in an equitable manner, and repaid
13with appropriate interest over a reasonable period of time.
SB442, s. 68 14Section 68. 231.05 (1) of the statutes is amended to read:
SB442,41,2115 231.05 (1) By means of this chapter, it is the intent of the legislature to provide
16assistance and alternative methods of financing to nonprofit health institutions to
17aid them in providing needed health services consistent with the state's health plan,
18to nonprofit educational institutions to aid them in providing needed educational
19services, to cultural arts districts to aid them in providing needed cultural arts
20activities and events
and to nonprofit child care providers to aid them in providing
21needed child care services.
SB442, s. 69 22Section 69. 231.06 of the statutes is amended to read:
SB442,42,8 23231.06 Property acquisition. The authority may acquire, directly or by and
24through a participating health institution, participating educational institution,
25participating cultural arts district
or participating child care provider as its agent,

1by purchase or by gift or devise, such lands, structures, property, rights,
2rights-of-way, franchises, easements and other interests in lands, including lands
3lying under water and riparian rights, which are located within this state as it deems
4necessary or convenient for the construction or operation of a project, upon such
5terms and at such prices as it considers reasonable and can be agreed upon between
6it and the owner thereof, and take title thereto in the name of the authority or in the
7name of a health facility, educational facility, cultural arts facility or child care center
8as its agent.
SB442, s. 70 9Section 70. 231.07 (1) (b) of the statutes is amended to read:
SB442,42,1510 231.07 (1) (b) Convey to the participating health institution, participating
11educational institution, participating cultural arts district or participating child
12care provider the authority's interest in the project and in any other health facility,
13educational facility, cultural arts facility or child care center leased, mortgaged or
14subject to a deed of trust or any other form of security arrangement to secure the
15bond.
SB442, s. 71 16Section 71. 231.07 (2) (a) of the statutes is amended to read:
SB442,42,2317 231.07 (2) (a) The principal of and interest on any bond issued by the authority
18to finance a project or to refinance or refund outstanding indebtedness of one or more
19participating health institutions, participating educational institutions,
20participating cultural arts districts
or participating child care providers, including
21any refunding bonds issued to refund and refinance the bond, have been fully paid
22and the bonds retired or if the adequate provision has been made to pay fully and
23retire the bond; and
SB442, s. 72 24Section 72. 231.08 (5) of the statutes is amended to read:
SB442,43,7
1231.08 (5) In addition to the other authorizations under this section, bonds of
2the authority may be secured by a pooling of leases whereby the authority may assign
3its rights, as lessor, and pledge rents under 2 or more leases of health facilities,
4educational facilities, cultural arts facilities or child care centers with 2 or more
5health institutions, educational institutions, cultural arts districts or child care
6providers, as lessees respectively, upon such terms as may be provided for in bond
7resolutions of the authority.
SB442, s. 73 8Section 73. 231.10 (1) of the statutes is amended to read:
SB442,43,179 231.10 (1) The state is not liable on notes or bonds of the authority and the notes
10and bonds are not a debt of the state. All notes and bonds of the authority shall
11contain on the face thereof a statement to this effect. The issuance of bonds under
12this chapter shall not, directly or indirectly or contingently, obligate the state or any
13political subdivision thereof to levy any form of taxation therefor or to make any
14appropriation for their payment. Nothing in this section prevents the authority from
15pledging its full faith and credit or the full faith and credit of a health institution,
16educational institution, cultural arts district or child care provider to the payment
17of bonds authorized under this chapter.
SB442, s. 74 18Section 74. 231.12 of the statutes is amended to read:
SB442,44,11 19231.12 Studies and recommendations. It is the intent and purpose of this
20chapter that the exercise by the authority of the powers granted to it shall be in all
21respects for the benefit of the people of this state to assist them to provide needed
22health facilities, educational facilities, cultural arts facilities and child care centers
23of the number, size, type, distribution and operation that will assure admission and
24health care, education, cultural enrichment or child care of high quality to all who
25need it. The authority shall identify and study all projects which are determined by

1health planning agencies to be needed, but which could not sustain a loan were such
2to be made to it under this chapter. The authority shall formulate and recommend
3to the legislature such amendments to this and other laws, and such other specific
4measures as grants, loan guarantees, interest subsidies or other actions the state
5may provide which would render the construction and operation of needed health
6facilities, educational facilities, cultural arts facilities and child care centers feasible
7and in the public interest. The authority also shall identify and study any laws or
8rules which that it finds handicaps or bars a needed health facility, educational
9facility, cultural arts facility or child care center from participating in the benefits
10of this chapter, and recommend to the legislature such actions as will remedy such
11situation.
SB442, s. 75 12Section 75. 231.13 (1) (intro.) of the statutes is amended to read:
SB442,44,1913 231.13 (1) (intro.) The authority shall collect rents for the use of, or other
14revenues relating to the financing of, each project. The authority shall contract with
15a participating health institution, participating educational institution,
16participating cultural arts district
or participating child care provider for each
17issuance of bonds. The contract shall provide that the rents or other revenues
18payable by the health facility, educational facility, cultural arts facility or child care
19center shall be sufficient at all times to:
SB442, s. 76 20Section 76. 231.13 (2) of the statutes is amended to read:
SB442,45,1121 231.13 (2) The authority shall pledge the revenues derived and to be derived
22from a project and other related health facilities, educational facilities, cultural arts
23facilities
or child care centers for the purposes specified in sub. (1), and additional
24bonds may be issued which may rank on a parity with other bonds relating to the
25project to the extent and on the terms and conditions provided in the bond resolution.

1Such pledge shall be valid and binding from the time when the pledge is made, the
2revenues so pledged by the authority shall immediately be subject to the lien of such
3pledge without any physical delivery thereof or further act and the lien of any such
4pledge shall be valid and binding as against all parties having claims of any kind in
5tort, contract or otherwise against the authority, irrespective of whether such parties
6have notice thereof. Neither the bond resolution nor any financing statement,
7continuation statement or other instrument by which a pledge is created or by which
8the authority's interest in revenues is assigned need be filed or recorded in any public
9records in order to perfect the lien thereof as against 3rd parties, except that a copy
10thereof shall be filed in the records of the authority and with the department of
11financial institutions.
SB442, s. 77 12Section 77. 231.16 (1) of the statutes is amended to read:
SB442,46,213 231.16 (1) The authority may issue bonds to refund any outstanding bond of
14the authority or indebtedness that a participating health institution, participating
15educational institution, participating cultural arts district or participating child
16care provider may have incurred for the construction or acquisition of a project prior
17to or after April 30, 1980, including the payment of any redemption premium on the
18outstanding bond or indebtedness and any interest accrued or to accrue to the
19earliest or any subsequent date of redemption, purchase or maturity, or to pay all or
20any part of the cost of constructing and acquiring additions, improvements,
21extensions or enlargements of a project or any portion of a project. No bonds may be
22issued under this section unless the authority has first entered into a new or
23amended agreement with a participating health institution, participating
24educational institution, participating cultural arts district or participating child

1care provider to provide sufficient revenues to pay the costs and other items
2described in s. 231.13.
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