281.59(4)(d)
(d) The department of administration shall have all other powers necessary and convenient to distribute the pledged revenues and to distribute the proceeds of the revenue obligations in accordance with
subch. II of ch. 18 or in accordance with
subch. IV of ch. 18 if designated a higher education bond.
281.59(4)(e)
(e) The department of administration may enter into agreements with the federal government or its agencies, political subdivisions of this state, individuals or private entities to insure or in any other manner provide additional security for the revenue obligations issued under this subsection.
281.59(4)(f)
(f) Revenue obligations may be contracted by the building commission when it reasonably appears to the building commission that all obligations incurred under this subsection can be fully paid on a timely basis from moneys received or anticipated to be received. Revenue obligations issued under this subsection shall not exceed $1,297,755,000 in principal amount, excluding obligations issued to refund outstanding revenue obligation notes.
281.59(4)(g)
(g) Unless otherwise expressly provided in resolutions authorizing the issuance of revenue obligations or in other agreements with the holders of revenue obligations, each issue of revenue obligations under this subsection shall be on a parity with every other revenue obligation issued under this subsection and in accordance with
subch. II of ch. 18 or with
subch. IV of ch. 18 if designated a higher education bond.
281.59(9)
(9) Conditions of financial assistance. 281.59(9)(a)(a) A loan approved under the clean water fund program, the safe drinking water loan program or the land recycling loan program shall be for no longer than 20 years, as determined by the department of administration, be fully amortized not later than 20 years after the original date of the note, and require the repayment of principal and interest, if any, to begin not later than 12 months after the expected date of completion of the project that it funds, as determined by the department of administration.
281.59(9)(am)
(am) The department of administration, in consultation with the department, may establish those terms and conditions of a financial assistance agreement that relate to its financial management, including what type of municipal obligation, as set forth under
s. 66.36, is required for the repayment of the financial assistance. Any terms and conditions established under this paragraph by the department of administration shall comply with the requirements of this section and
s. 281.58,
281.60 or
281.61. In setting the terms and conditions, the department of administration may consider factors that the department of administration finds are relevant, including the type of obligation evidencing the loan, the pledge of security for the obligation and the applicant's creditworthiness.
281.59(9)(b)
(b) As a condition of receiving financial assistance under the clean water fund program, the safe drinking water loan program or the land recycling loan program, an applicant shall do all of the following:
281.59(9)(b)1.
1. Pledge the security, if any, required by the rules promulgated by the department of administration under this section and
s. 281.58,
281.60 or
281.61.
281.59(9)(b)2.
2. Demonstrate to the satisfaction of the department of administration the financial capacity to assure sufficient revenues to operate and maintain the project for its useful life and to pay the debt service on the obligations that it issues for the project.
281.59(11)(a)(a) The department of natural resources and the department of administration may enter into a financial assistance agreement with an applicant for which the department of administration has allocated subsidy under
s. 281.58 (9m),
281.60 (8) or
281.61 (8) if the applicant meets the conditions under
sub. (9) and the other requirements under this section and
s. 281.58,
281.60 or
281.61.
281.59(11)(am)
(am) The department of administration shall make the financial assistance payments to an applicant that has entered into a financial assistance agreement under
par. (a) or to the applicant's designated agent.
281.59(11)(b)
(b) If a municipality fails to make a principal repayment or interest payment after its due date, the department of administration shall place on file a certified statement of all amounts due under this section and
s. 281.58,
281.60 or
281.61. After consulting the department, the department of administration may collect all amounts due by deducting those amounts from any state payments due the municipality or may add a special charge to the amount of taxes apportioned to and levied upon the county under
s. 70.60. If the department of administration collects amounts due, it shall remit those amounts to the fund to which they are due and notify the department of that action.
281.59(11)(c)
(c) The department of administration may retain the last payment under a financial assistance agreement until the department of natural resources and the department of administration determine that the project is completed and meets the applicable requirements of this section and
s. 281.58,
281.60 or
281.61 and that the conditions of the financial assistance agreement are met.
281.59(12)
(12) Municipal obligations. The department of administration may purchase or refinance obligations specified in
s. 281.58 (6) (b) 1. or
2. and guarantee or purchase insurance for municipal obligations specified in
s. 281.58 (6) (b) 3. if the department of administration and the department of natural resources approve the financial assistance under this section and
s. 281.58.
281.59(13)(a)1.1. Notwithstanding any other provision of this section and
s. 281.58, a municipality that submits to the department by January 2, 1989, a facility plan meeting the requirements of
s. 281.57 which is approvable under this chapter and that does not receive a grant award before July 1, 1990, only because the municipality is following a schedule contained in the facility plan and approved by the department and the municipality is in compliance with all applicable schedules contained in a permit issued under
ch. 283 or because there are insufficient grant funds under
s. 281.57, is eligible to receive financial assistance under this paragraph. The form of the financial assistance is a loan with an interest rate of 2.5% per year except that
s. 281.58 (8) (b),
(f) and
(k) applies to projects receiving financial assistance under this paragraph.
281.59(13)(a)2.
2. Notwithstanding any other provision of this section or
s. 281.58, the department shall make all loans under
subd. 1. to municipalities ready to construct treatment works before the department provides or approves any other financial assistance under this section except for loans under
par. (b).
281.59(13)(b)1.1. Notwithstanding any other provision of this section or
s. 281.58, an unsewered municipality is eligible to receive financial assistance under this paragraph, in the form of a loan with an interest rate of 2.5% per year, which may be for original financing or refinancing for a collection system that is ineligible for financial assistance under
s. 281.57 because of
s. 281.57 (4) (b) 1. and that is being connected to an existing wastewater treatment plant if all of the following apply:
281.59(13)(b)1.a.
a. The municipality applies to the department for financial assistance under
s. 281.57 (5) for a construction project during 1988.
281.59(13)(b)1.b.
b. Before January 1, 1989, the department issues a notice under
s. 281.57 (6) that the department is ready to allocate funds to the municipality for the project.
281.59(13)(b)1.d.
d. The municipality receives a grant under
s. 281.57 for the construction of the project from the list developed by the department under
s. 281.57 (6) (a) for applications received in 1988.
281.59(13)(b)1m.
1m. Notwithstanding any other provision of this section or
s. 281.58, a town sanitary district is eligible to receive financial assistance under this paragraph, in the form of a loan with an interest rate of 2.5% per year, for the extension of a collection system into an unsewered area that is added to the sanitary district if all of the following apply:
281.59(13)(b)1m.b.
b. The department determines that extension of the collection system into the unsewered area is necessary and cost-effective.
281.59(13)(b)1m.c.
c. The sanitary district invites bids for and begins construction of the extension of the collection system before January 1, 1990.
281.59(13)(b)3.
3. Notwithstanding any provision of this section or
s. 281.58, the department shall annually allocate funds for loans under
subds. 1. and
1m. before the department provides or approves any other financial assistance under this section or
s. 281.58.
281.59(13)(e)
(e) The department of administration and the department may not make loans under s.
144.241 (20), 1987 stats., as affected by
1989 Wisconsin Acts 31,
336 and
366, or under this subsection to a metropolitan sewerage district that serves a 1st class city that total more than $230,900,000.
281.59(13m)
(13m) Legislative moral obligation. The building commission may, at the time the loan is made, by resolution designate a loan made under the clean water fund program as one to which this subsection applies. If at any time the payments received or expected to be received from a municipality on any loan so designated are pledged to secure revenue obligations of the state issued pursuant to
subch. II of ch. 18 and are insufficient to pay when due principal of and interest on such loan, the department of administration shall certify the amount of such insufficiency to the secretary of administration, the governor and the joint committee on finance. If the certification is received by the secretary of administration in an even-numbered year before the completion of the budget under
s. 16.43, the secretary of administration shall include the certified amount in the budget compilation. In any event, the joint committee on finance shall introduce in either house, in bill form, an appropriation of the amount so requested for the purpose of payment of the revenue obligation secured thereby. Recognizing its moral obligation to do so, the legislature hereby expresses its expectation and aspiration that, if ever called upon to do so, it shall make the appropriation.
281.59(13s)
(13s) Powers. The department of administration may audit, or contract for audits of, projects receiving financial assistance under the clean water fund program, the safe drinking water loan program and the land recycling loan program.
281.59(14)
(14) Rules. The department of administration shall promulgate rules that are necessary for the proper execution of this section and of its responsibilities under
ss. 281.58,
281.60 and
281.61.
281.59(15)
(15) Construction. This section shall be liberally construed in aid of the purposes of this section.
281.59 History
History: 1989 a. 366 ss.
40,
63,
65,
66,
97,
99,
106,
108 to
110,
115;
1991 a. 32,
39,
189,
315;
1993 a. 16;
1995 a. 27;
1995 a. 227 s.
426; Stats. 1995 s. 281.59;
1995 a. 452;
1997 a. 27,
237.
281.60
281.60
Land recycling loan program. 281.60(1)(a)
(a) "Eligible applicant" means political subdivision.
281.60(1)(b)
(b) "Land recycling loan program" means the program administered under this section with financial management provided under
s. 281.59.
281.60(1)(c)
(c) "Market interest rate" means the interest at the effective rate of a revenue obligation issued by this state to fund a loan or portion of a loan for a clean water fund program project under
s. 281.58.
281.60(1)(d)
(d) "Political subdivision" means a city, village, town or county.
281.60(2)
(2) General. The department and the department of administration may administer a program to provide financial assistance to eligible applicants for projects to remedy environmental contamination of sites or facilities at which environmental contamination has affected groundwater or surface water or threatens to affect groundwater or surface water. The department and the department of administration may provide financial assistance under this section to an eligible applicant only if the eligible applicant owns the contaminated site or facility. The department and the department of administration may not provide financial assistance under this section to remedy environmental contamination at a site or facility that is not a landfill if the eligible applicant caused the environmental contamination.
281.60(2r)
(2r) Methods of providing financial assistance. The following methods of providing financial assistance may be used under the land recycling loan program:
281.60(2r)(a)
(a) Making loans below the market interest rate for projects described in
sub. (2).
281.60(2r)(b)
(b) Purchasing or refinancing the obligation of an eligible applicant if the obligation was incurred to finance the cost of a project described in
sub. (2) and the obligation was initially incurred after May 17, 1988.
281.60(2r)(c)
(c) Guaranteeing, or purchasing insurance for, obligations incurred to finance the cost of projects described in
sub. (2) if the guarantee or insurance will provide credit market access or reduce interest rates.
281.60(2r)(d)
(d) Providing payments to the board of commissioners of public lands to reduce principal or interest payments, or both, on loans made to political subdivisions under
subch. II of ch. 24 by the board of commissioners of public lands for projects that are eligible for financial assistance under the land recycling loan program.
281.60(3)(a)(a) An eligible applicant shall submit notice of its intent to apply for financial assistance under the land recycling loan program. An eligible applicant shall submit the notice at least 6 months before the beginning of the fiscal year in which it will request to receive funding. The notice shall be in a form prescribed by the department and the department of administration.
281.60(3)(b)
(b) The department may waive
par. (a) upon the written request of an eligible applicant.
281.60(5)
(5) Application. After submitting a notice of intent to apply under
sub. (3) (a) or obtaining a waiver under
sub. (3) (b), an eligible applicant shall submit an application for land recycling loan program financial assistance to the department. The eligible applicant shall submit the application before the date established by the department by rule. The application shall be in the form and include the information required by the department and the department of administration. An eligible applicant may not submit more than one application per project per year.
281.60(6)
(6) Priority list. The department shall establish a priority list that ranks each land recycling loan program project. The department shall promulgate rules for determining project rankings based on the potential of projects to reduce environmental pollution and threats to human health and, for sites and facilities that are not landfills, the extent to which projects will prevent the development of undeveloped land by making land available for redevelopment after a cleanup is conducted. Before the department establishes the priority list, the department shall consider the recommendations of the department of administration and the department of commerce.
281.60(7)
(7) Approval of application. The department shall approve an application received under
sub. (5) after all of the following occur:
281.60(7)(a)
(a) The project is ranked on the priority list under
sub. (6).
281.60(7)(b)
(b) The department determines that the project meets the eligibility requirements under this section.
281.60(7)(c)
(c) The department of administration determines that the eligible applicant will meet the requirements of
s. 281.59 (9) (b).
281.60(8)
(8) Funding list; allocation of funding. 281.60(8)(a)(a) The department shall establish a funding list for each fiscal year that ranks projects of eligible applicants that submit approvable applications under
sub. (5) in the same order that they appear on the priority list under
sub. (6). If sufficient funds are not available to fund all approved applications for financial assistance, the department of administration shall allocate funding to projects that are approved under
sub. (7) in the order that they appear on the funding list, except as follows:
281.60(8)(a)1.
1. The department of administration may not allocate more than 40% of the available funds in each fiscal year to projects to remedy contamination at landfills.
281.60(8)(a)2.
2. In any biennium, no eligible applicant may receive more than 25% of the amount established under
s. 281.59 (3m) (b) for that biennium.
281.60(8)(b)
(b) In allocating subsidy under this subsection, the department of administration shall adhere to the amount approved by the legislature for each biennium under
s. 281.58 (3m) (b).
281.60(8m)
(8m) Conditions of financial assistance. As a condition of receiving financial assistance under the land recycling loan program, an eligible applicant shall do all of the following:
281.60(8m)(a)
(a) Establish a dedicated source of revenue for the repayment of the financial assistance.
281.60(8m)(b)
(b) Comply with those provisions of
33 USC 1381 to
1387, this chapter, and the rules and regulations promulgated under those provisions, that the department specifies.
281.60(8m)(c)
(c) Allow access to the project by representatives of the department for the purpose of making inspections.
281.60(9)
(9) Financial assistance commitments. The department and the department of administration may, at the request of an eligible applicant, issue a notice of financial assistance commitment after the eligible applicant's application for land recycling loan program financial assistance has been approved and funding has been allocated under
sub. (8) for the eligible applicant's project. The notice of financial assistance commitment shall specify the conditions that the eligible applicant must meet to secure financial assistance and shall include the estimated repayment schedules and other terms of financial assistance.
281.60(10)
(10) Deadline for closing. If funding is allocated to a project under
sub. (8) for a loan and the loan is not closed within 12 months after the date on which funding is allocated, the department of administration shall release the funding allocated to the project.
281.60(11)
(11) Loan interest rates. The interest rate on a land recycling loan program loan shall be 55% of market interest rate.
281.60(11m)
(11m) Service fee. The department and the department of administration shall jointly charge and collect an annual service fee for reviewing and acting upon land recycling loan program applications and servicing financial assistance agreements. The fee shall be in addition to interest payments at the rate under
sub. (11). For the 1997-99 fiscal biennium, the service fee shall be 0.5% of the loan balance. Fee amounts for later biennia shall be established in the biennial finance plan under
s. 281.59 (3) (a) 8. The department and the department of administration shall specify in the biennial finance plan a fee designed to cover the costs of reviewing and acting upon land recycling loan program applications and servicing financial assistance agreements.
281.60(12)(a)(a) An eligible applicant may not sell a site or facility, or portion of a site or facility, for which the eligible applicant has received a loan under this section, while the loan is outstanding, for less than fair market value.
281.60(12)(b)
(b) If an eligible applicant sells a site or facility, or portion of a site or facility, for which the eligible applicant has received a loan under this section, the eligible applicant shall do the following:
281.60(12)(b)1.
1. If the sale proceeds are less than or equal to the remaining loan balance, pay the sale proceeds to the department of administration to repay all or a portion of the loan.
281.60(12)(b)2.
2. If the sale proceeds are greater than the remaining loan balance but less than or equal to the cost of the land plus the cost of the cleanup, pay an amount equal to the remaining loan balance to the department of administration and retain the remainder of the sale proceeds.
281.60(12)(b)3.
3. If the sale proceeds are greater than the cost of the land plus the cost of the cleanup, pay to the department of administration an amount equal to the remaining loan balance plus the lesser of 75% of the amount by which the sale proceeds exceed the cost of the land plus the cost of the cleanup or the amount of subsidy incurred for the project and retain the remainder of the sale proceeds.
281.60(13)
(13) Duties of the department. The department shall do all of the following:
281.60(13)(a)
(a) Seek approval of the federal environmental protection agency for the use of funds under
33 USC 1381 to
1387 for the land recycling loan program.
281.60(13)(b)
(b) Promulgate rules establishing eligibility criteria for applicants and projects under this section.
281.60(13)(c)
(c) Promulgate rules that are necessary for the execution of its responsibilities under the land recycling loan program.
281.60(13)(d)
(d) Cooperate with the department of administration in administering the land recycling loan program.
281.60(13)(e)
(e) Submit a biennial budget request under
s. 16.42 for the land recycling loan program.
281.60(13)(f)
(f) Have the lead role with the federal environmental protection agency concerning the land recycling loan program.
281.60(13)(g)
(g) Have the lead role with eligible applicants in providing land recycling loan program information, and cooperate with the department of administration in providing that information to eligible applicants.
