SB21,434 Section 434. 18.16 (1) (d) of the statutes is amended to read:

SB21,173,14 18.16 (1) (d) "Minority investment firm" means an investment firm certified by the department of administration under s. 16.287 203.07 (2).

SB21,435 Section 435. 18.55 (5) of the statutes is amended to read:

SB21,174,2 18.55 (5) Exercise of authority. Money may be borrowed and evidences of revenue obligation issued therefor pursuant to one or more authorizing resolutions, unless otherwise provided in the resolution or in this subchapter, at any time and from time to time, for any combination of purposes, in any specific amounts, at any rates of interest, for any term, payable at any intervals, at any place, in any manner and having any other terms or conditions deemed necessary or useful. Revenue obligation bonds may bear interest at variable or fixed rates, bear no interest or bear interest payable only at maturity or upon redemption prior to maturity. Unless sooner exercised or unless a different period is provided in the resolution, every authorizing resolution, except as provided in s. 18.59 (1), shall expire one year 2 years after the date of its adoption.

SB21,436 Section 436. 18.64 (1) (a) of the statutes is amended to read:

SB21,174,5 18.64 (1) (a) "Disabled veteran-owned financial adviser" means a financial adviser certified by the department of administration under s. 16.283 203.03 (3).

SB21,437 Section 437. 18.64 (1) (b) of the statutes is amended to read:

SB21,174,8 18.64 (1) (b) "Disabled veteran-owned investment firm" means an investment firm certified by the department of administration under s. 16.283 203.03 (3).

SB21,438 Section 438. 18.64 (1) (c) of the statutes is amended to read:

SB21,174,11 18.64 (1) (c) "Minority financial adviser" means a financial adviser certified by the department of administration under s. 16.287 203.07 (2).

SB21,439 Section 439. 18.64 (1) (d) of the statutes is amended to read:

SB21,174,14 18.64 (1) (d) "Minority investment firm" means an investment firm certified by the department of administration under s. 16.287 203.07 (2).

SB21,440 Section 440. Subchapter III (title) of chapter 18 [precedes 18.70] of the statutes is repealed.

SB21,441 Section 441. 18.70 of the statutes is repealed.

SB21,442 Section 442. 18.71 (intro.), (1d), (3), (4) and (5) of the statutes are renumbered 16.526 (1) (intro), (a), (b), (c) and (d), and 16.526 (1) (intro.), (a) 1. and 3. and (c) 1. and 2., as renumbered, are amended to read:

SB21,174,22 16.526 (1) Definitions. (intro.) In this subchapter section, unless the context requires otherwise:

SB21,174,24 (a) 1. The aggregate net payments expected to be made and received under a specified interest exchange agreement under s. 18.73 (5) (a) sub. (4) (e) 1.

SB21,175,3 3. The aggregate net payments expected to be made and received under all other interest exchange agreements under s. 18.73 (5) (a) sub. (4) (e) 1. relating to those notes that are in force at the time of executing the agreement.

SB21,175,6 (c) 1. Created for the purpose of funding operating deficits of the state as determined under s. 16.405 (1) 16.526 (1m) (a), which must be repaid not later than the last day of the fiscal year during which the operating note is issued;

SB21,175,9 2. Payable from and secured solely by revenues pledged by the commission and the department pursuant to the authorizing resolution certification provided that all such pledged revenues must first be available for the payment of public debt; and

SB21,443 Section 443. 18.71 (1m) and (2) of the statutes are repealed.

SB21,444 Section 444. 18.72 of the statutes is renumbered 16.526 (2), and 16.526 (2) (a) to (c), as renumbered, are amended to read:

SB21,175,18 16.526 (2) (a) The commission department may authorize financial obligations to be incurred and evidences of operating notes to be issued therefor in an amount sufficient to fund or refund the whole or any part of any operating note issued under this subchapter section. However, no operating notes originally issued in a fiscal year may be funded or refunded by proceeds of an operating note to mature in a later fiscal year.

SB21,175,22 (b) The commission department may authorize financial obligations to be incurred and evidences of operating notes to be issued therefor to fund operating deficits as moneys are required. The requirements for moneys shall be established by the department.

SB21,175,25 (c) Each purpose specified in subs. (1) and (2) pars. (a) and (b) may include the expenses of issuance of the operating notes and reserves securing the operating notes.

SB21,445 Section 445. 18.725 of the statutes is renumbered 16.526 (3) and amended to read:

SB21,176,10 16.526 (3) Limit on amount of operating notes. The building commission department may not sell operating notes under s. 18.73 (2) sub. (4) (b) at any time if the amount of operating notes to be sold at that time plus the amount of operating notes outstanding at that time exceed 10% of the amounts shown in the schedule under s. 20.005 (3) of appropriations of general purpose revenues, as defined in s. 20.001 (2) (a), plus the amounts shown in the schedule of appropriations of program revenues, as defined in s. 20.001 (2) (b), both calculated as of that time and for that fiscal year.

SB21,446 Section 446. 18.73 (1) of the statutes is repealed.

SB21,447 Section 447. 18.73 (2), (4) and (5) (a), (b), (c), (d) (intro.), 1. and 2., (e) 1. and 3. and (f) of the statutes are renumbered 16.526 (4) (b), (d) and (e) 1., 2., 3., 4. (intro.), a. and b., 5. a. and c. and 6., and 16.526 (4) (b), (d) and (e) 1., 2., 4. (intro.), a. and b., 5. a. and 6. (intro.), as renumbered, are amended to read: