SB388: Bill Text

LRB-3908/2

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2003 - 2004 LEGISLATURE

2003 Senate BILL 388

January 14, 2004 - Introduced by Senators Darling, Panzer, Erpenbach, A. Lasee, Risser, Wirch and Roessler, cosponsored by Representatives Ward, Gard, Kreuser, Turner, Towns, Black, Kaufert, J. Wood, Plouff, Miller, Hahn, J. Lehman, Molepske, Krawczyk, Hines, Huber, Ott, Van Roy, Musser, Vrakas and McCormick. Referred to Committee on Health, Children, Families, Aging and Long Term Care.

SB388,1,2 An Act to amend 233.27 of the statutes; relating to: increasing bonding authority for the University of Wisconsin Hospitals and Clinics Authority.

Analysis by the Legislative Reference Bureau

Under current law, the University of Wisconsin Hospitals and Clinics Authority may not issue bonds in an amount that exceeds $175,000,000. This bill increases that amount to $235,000,000.

For further information see the state fiscal estimate, which will be printed as an appendix to this bill.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

SB388, s. 1 Section 1. 233.27 of the statutes is amended to read:

SB388,2,3 233.27 Limit on the amount of outstanding bonds. The authority may not issue bonds or incur indebtedness described under s. 233.03 (12) if, after the bonds are issued or the indebtedness is incurred, the aggregate principal amount of the authority's outstanding bonds, together with all indebtedness described under s. 233.03 (12) would exceed $175,000,000 $235,000,000. Bonds issued to fund or refund outstanding bonds, or indebtedness incurred to pay off or purchase outstanding indebtedness, is not included in calculating compliance with the $175,000,000 $235,000,000 limit.

SB388,2,4 (End)