234.66 History
History: 1993 a. 437.
234.67
234.67
Recycling loan guarantees. 234.67(1)(am)
(am) "Diaper service" means a business that supplies and launders cloth diapers.
234.67(1)(c)
(c) "Guaranteed loan" means a loan on which the authority guarantees collection under
sub. (3).
234.67(1)(e)
(e) "Participating lender" means a bank, credit union, savings bank, savings and loan association or other person, who makes loans for working capital or to finance physical plant needs, equipment or machinery and who has entered into an agreement with the authority under
s. 234.93 (2) (a).
234.67(1)(f)
(f) "Percentage of guarantee" means the percentage established by the authority under
sub. (3) (a).
234.67(1)(h)
(h) "Security interest" means an interest in property or other assets that secures payment or other performance of a guaranteed loan.
234.67(2)
(2) Eligible loans. A loan made by a participating lender before December 3, 1993, is eligible for guarantee of collection from the Wisconsin development reserve fund under
s. 234.93 if all of the following apply:
234.67(2)(a)
(a) The loan is made to do one of the following:
234.67(2)(a)1.
1. Expand or improve an existing diaper service or to start a new diaper service.
234.67(2)(a)2.
2. To provide working capital or to finance any of the following items, if the working capital or item is necessary to, or used to, produce in this state a product from products recovered from postconsumer waste:
234.67(2)(b)
(b) The rate of interest on the loan, including any origination fees or other charges, is fixed at a rate determined by the participating lender and approved by the authority.
234.67(2)(c)
(c) The total principal amount of all loans to the borrower that are guaranteed under this section will not exceed $750,000.
234.67(2)(e)
(e) The participating lender obtains a security interest in physical plant, equipment, machinery or other assets.
234.67(2)(f)
(f) The loan term does not extend beyond 15 years after the date that the participating lender disburses the loan unless the loan is extended by the authority.
234.67(2)(g)
(g) The proceeds of the loan are not applied to the outstanding balance of any other loan.
234.67(2)(i)
(i) The borrower does not meet the participating lender's minimum standards of creditworthiness to receive a loan for the purposes described in
par. (a) in the normal course of the participating lender's business.
234.67(2)(j)
(j) The participating lender considers the borrower's assets, cash flow and managerial ability sufficient to preclude voluntary or involuntary liquidation for the loan term granted by the participating lender.
234.67(2)(k)
(k) The participating lender agrees to the percentage of guarantee established for the loan by the authority.
234.67(3)(a)(a) Subject to
par. (b), the authority shall guarantee collection of a percentage, not exceeding 90%, of the principal of any loan eligible for a guarantee under
sub. (2). The authority shall establish the percentage of the unpaid principal of an eligible loan that will be guaranteed, using the procedures described in the guarantee agreement under
s. 234.93 (2) (a). The authority may establish a single percentage for all guaranteed loans or establish different percentages for eligible loans on an individual basis.
234.67(3)(b)
(b) Except as provided in
s. 234.93 (3), the total principal amounts of all loans which the authority may guarantee under
par. (a) may not exceed $10,000,000.
234.68
234.68
Stratospheric ozone protection loan guarantee program. 234.68(1)(a)
(a) "Federal clean air act" means the federal clean air act,
42 USC 7401 to
7671q, and regulations issued by the federal environmental protection agency under that act.
234.68(1)(b)
(b) "Guaranteed loan" means a loan for which the authority guarantees collection under
sub. (3).
234.68(1)(c)
(c) "Participating lender" means a bank, savings bank, credit union, credit association, savings and loan association or other person that makes loans and that has entered into an agreement with the authority under
s. 234.93 (2) (a).
234.68(1)(d)
(d) "Security interest" means an interest in property or other assets that secures payment or other performance of a guaranteed loan.
234.68(1)(e)
(e) "Small business" means a business entity, including a parent corporation or any subsidiary or affiliated corporation, that employs fewer than 51 full-time employes.
234.68(2)
(2) Eligible loans. A loan made by a participating lender is eligible for guarantee of collection from the Wisconsin development reserve fund under
s. 234.93 if all of the following apply:
234.68(2)(a)
(a) The borrower is a small business in this state.
234.68(2)(b)
(b) The borrower uses the loan proceeds for direct or related expenses, as determined by the authority, that are associated with the purchase or upgrading of equipment or machinery, or with the upgrading of the physical plant of the small business, and the purchase or upgrading enables the small business to eliminate its use of solvents that are or that contain a class I substance, as defined in
42 USC 7671 (3), to comply with the stratospheric ozone protection requirements of the federal clean air act.
234.68(2)(c)
(c) The loan proceeds are not applied to the outstanding balance of any other loan.
234.68(2)(d)
(d) The authority approves the interest rate on the loan, including any origination fees or other charges.
234.68(2)(e)
(e) The total outstanding principal amount of all of the borrower's loans that are guaranteed by the authority under this section does not exceed $50,000.
234.68(2)(f)
(f) The participating lender obtains a security interest in the equipment, machinery, physical plant or other assets to secure repayment of the loan.
234.68(2)(g)
(g) The loan term does not extend beyond 15 years after the date on which the participating lender disburses the loan unless the loan is extended by the authority.
234.68(2)(h)
(h) The participating lender considers the borrower's assets, cash flow and managerial ability sufficient to preclude voluntary or involuntary liquidation for the loan term granted by the participating lender.
234.68(2)(i)
(i) The participating lender agrees to the percentage of guarantee established for the loan by the authority.
234.68(3)(a)(a) Subject to
par. (b), the authority shall guarantee collection of a percentage, not exceeding 90%, of the principal of any loan eligible for a guarantee under
sub. (2). The authority shall establish the percentage of the unpaid principal of an eligible loan that will be guaranteed by using the procedures described in the guarantee agreement under
s. 234.93 (2) (a). The authority may establish a single percentage for all guaranteed loans or establish different percentages for eligible loans on an individual basis.
234.68(3)(b)
(b) Except as provided in
s. 234.93 (3), the total outstanding principal amount of all guaranteed loans under
par. (a) may not exceed $500,000.
234.68 History
History: 1993 a. 16.
234.69
234.69
Clean air loan guarantee program. 234.69(1)(a)
(a) "Federal clean air act" means the federal clean air act,
42 USC 7401 to
7671q, and regulations issued by the federal environmental protection agency under that act.
234.69(1)(b)
(b) "Guaranteed loan" means a loan for which the authority guarantees collection under
sub. (3).
234.69(1)(d)
(d) "Participating lender" means a bank, savings bank, credit union, credit association, savings and loan association or other person that makes loans and that has entered into an agreement with the authority under
s. 234.93 (2) (a).
234.69(1)(e)
(e) "Security interest" means an interest in property or other assets that secures payment or other performance of a guaranteed loan.
234.69(1)(f)
(f) "Small business" means a business entity, including a parent corporation or any subsidiary or affiliated corporation, that employs fewer than 51 full-time employes.
234.69(2)
(2) Eligible loans. A loan made by a participating lender is eligible for guarantee of collection from the Wisconsin development reserve fund under
s. 234.93 if all of the following apply:
234.69(2)(a)
(a) The borrower is a small business that is located in a nonattainment area.
234.69(2)(b)
(b) The borrower uses the loan proceeds for direct or related expenses, as determined by the authority, that are associated with the purchase or upgrading of equipment or machinery, or with the upgrading of the physical plant of the small business, and the purchase or upgrading enables the small business to comply with the air pollution control requirements of any of the following:
234.69(2)(c)
(c) The loan proceeds are not applied to the outstanding balance of any other loan.
234.69(2)(d)
(d) The authority approves the interest rate on the loan, including any origination fees or other charges.
234.69(2)(e)
(e) The total outstanding principal amount of all of the borrower's loans that are guaranteed by the authority under this section does not exceed $50,000.
234.69(2)(f)
(f) The participating lender obtains a security interest in the equipment, machinery, physical plant or other assets to secure repayment of the loan.
234.69(2)(g)
(g) The loan term does not extend beyond 15 years after the date on which the participating lender disburses the loan unless the loan is extended by the authority.
234.69(2)(h)
(h) The participating lender considers the borrower's assets, cash flow and managerial ability sufficient to preclude voluntary or involuntary liquidation for the loan term granted by the participating lender.
234.69(2)(i)
(i) The participating lender agrees to the percentage of guarantee established for the loan by the authority.
234.69(3)(a)(a) Subject to
par. (b), the authority shall guarantee collection of a percentage, not exceeding 90%, of the principal of any loan eligible for a guarantee under
sub. (2). The authority shall establish the percentage of the unpaid principal of an eligible loan that will be guaranteed by using the procedures described in the guarantee agreement under
s. 234.93 (2) (a). The authority may establish a single percentage for all guaranteed loans or establish different percentages for eligible loans on an individual basis.
234.69(3)(b)
(b) Except as provided in
s. 234.93 (3), the total outstanding principal amount of all guaranteed loans under
par. (a) may not exceed $1,000,000.
234.69 History
History: 1993 a. 16;
1995 a. 227.
234.70
234.70
Bonds for residential facilities for the elderly or chronically disabled. 234.70(1)
(1) Upon the authorization of the department of health and family services, the authority may issue bonds or notes and make loans for the financing of housing projects which are residential facilities as defined in
s. 46.28 (1) (d) and the development costs of those housing projects, if the department of health and family services has approved the residential facilities for financing under
s. 46.28 (2). The limitations in
ss. 234.18 (1) and
(2),
234.40,
234.50,
234.60,
234.65 and
234.66 do not apply to bonds or notes issued under this section. The definition of "nonprofit corporation" in
s. 234.01 (9) does not apply to this section.
234.70(2)(a)(a) The aggregate amount of outstanding bonds or notes issued under this subsection may not exceed $99,400,000.
234.70(2)(b)
(b) Of the amount specified in
par. (a), $30,000,000 may only be used to finance residential facilities serving 15 or fewer persons who are chronically disabled, as defined in
s. 46.28 (1) (b).
234.70(2)(c)1.1. Of the amount specified in
par. (a), $48,580,000 may only be used to finance residential facilities with 100 or fewer units for elderly persons, as defined in
s. 46.28 (1) (c) or to finance additional residential facilities serving 15 or fewer persons who are chronically disabled.
234.70(2)(c)2.
2. The remainder of the amount specified in
par. (a) may only be used to finance residential facilities with 50 or fewer units for elderly persons, as defined in
s. 46.28 (1) (c), or to finance additional residential facilities serving 15 or fewer persons who are chronically disabled.
234.70(2)(c)3.
3. At least 20% of the units in any residential facility serving elderly persons for which bonds or notes are issued under this paragraph shall be reserved for low-income elderly persons.
234.70(3)
(3) The authority is not required to issue bonds or notes under this section to finance residential facilities for persons and families of low and moderate income.
234.75(2)
(2) "Eligible contract" means a contract entered into with the federal government, this state, a state agency, a local governmental unit or a financially secure business.
234.75(3)
(3) "Eligible project" means the work to be performed under an eligible contract by a person who seeks financial assistance under
s. 234.765.
234.75(5)
(5) "Financially secure business" means a business with annual gross revenue of at least $10,000,000 and that has a high credit rating.
