AB710,121,8 2. The proportion of revenues necessary for the payment of debt service on the public improvement bonds. Such The revenues shall be paid into a special fund in the treasury of the municipality known as the "Public Improvement Bond Account".

AB710,121,11 (c) All funds on deposit in a public improvement bond account, which are not immediately required for the purposes specified in this section, shall be invested in accordance with s. 66.04 66.0605.

AB710,121,19 (5) Annually, on or before August 1 the officer or department of the municipality responsible for the operation of the public improvement shall file with the governing body, or its designated representative, a detailed statement setting forth the amount of the debt service on the public improvement bonds issued for the public improvement for the succeeding calendar year and an estimate for such that year of the total revenues to be derived from the ownership and operation of the public improvement and the total cost of operating and maintaining the public improvement.

AB710,122,2 (6) (a) If it is determined that there will be a deficiency for the ensuing calendar year, the municipality shall make up the deficiency, but the obligation to do so shall be is limited to a sum which shall does not cause the municipality to exceed its municipal debt limits. The deficiency may be made up by the municipality from any revenues available therefor revenues, including a tax levy. The amount contributed by the municipality shall be deposited in the public improvement bond account and applied to the payment of debt service. Taxes levied under this paragraph shall are not be subject to statutory limitations of rate or amount.

AB710,122,6 (b) The amount of any deficiency determined under par. (a) for the ensuing calendar year shall be related to the total debt service for such that year. Such The ratio shall determine determines the outstanding indebtedness of the issue to be reflected as part of the municipality's indebtedness for the year.

AB710,122,19 (7) Whenever If revenue bonds have been issued by a municipality pursuant to law and an ordinance authorizing their issuance without limitation as to amount has been enacted by the governing body of the municipality, public improvement bonds may be issued under the ordinance with the same effect as though they were revenue bonds. Such The bonds shall be are public improvement bonds and this section shall apply thereto applies to the bonds, except that nothing contained in this subsection shall in any way impair the contract between the municipality and the holders of any outstanding revenue bonds. Whatever liens have been Liens created in favor of any outstanding revenue bonds issued under the ordinance shall apply to public improvement bonds so issued under this subsection. The public improvement bonds shall be are payable on a parity with the revenue bonds issued under the ordinance if the public improvement bonds are issued in compliance with the requirements of the ordinance for the issuance of parity bonds under the ordinance.

AB710, s. 163 Section 163 . 66.06 of the statutes is repealed.

Note: Replaced by s. 66.0725, created by Section 235.

AB710, s. 164 Section 164. Subchapter VI (title) of chapter 66 [precedes 66.0601] of the statutes is created to read:

AB710,122,23 Chapter 66

AB710,123,2 Subchapter VI Finance; Revenues

AB710, s. 165 Section 165. 66.0601 (1) (title) of the statutes is created to read:

AB710,123,4 66.0601 (1) (title) Prohibited appropriations.

AB710, s. 166 Section 166. 66.0601 (1) (b) (title) of the statutes is created to read:

AB710,123,6 66.0601 (1) (b) (title) Payments for abortions restricted.

AB710, s. 167 Section 167. 66.0601 (1) (c) (title) of the statutes is created to read:

AB710,123,8 66.0601 (1) (c) (title) Payments for abortion-related activity restricted.

AB710, s. 168 Section 168. 66.0603 (title) of the statutes is created to read:

AB710,123,10 66.0603 (title) Investments.

AB710, s. 169 Section 169. 66.061 of the statutes is renumbered 66.0815, and 66.0815 (title), (1) (a), (c) and (d) and (2), as renumbered, are amended to read:

AB710,123,17 66.0815 (title) Franchises; Public utility franchises and service contracts. (1) (a) Any A city, village or town may grant to any person or corporation the right to construct and operate therein a water system or to furnish light, heat or power a public utility in the city, village or town, subject to reasonable rules and regulations prescribed by ordinance.

Note: Expands the franchise authority under sub. (1) to include any public utility.

AB710,124,5 (c) No such ordinance shall be operative An ordinance under sub. (1) may not take effect until 60 days after passage and publication unless sooner approved by a referendum. Within that time the 60-day period electors equal in number to 20 per cent 20% of those voting at the last regular municipal election, may demand petition for a referendum. The demand petition shall be in writing and filed with the clerk. Each signer shall state his or her occupation and residence and signatures shall be verified by the affidavit of an elector. The referendum shall be held at the next regular municipal election, or at a special election within 90 days of the filing of the demand, and the petition. The ordinance shall may not be effective take effect unless approved by a majority of the votes cast thereon. This paragraph shall does not apply to extensions by a utility previously franchised by the village or, city or town.

AB710,124,13 (d) Whenever any If a city or village at the time of its incorporation included within its corporate limits territory in which a public utility, prior to such before the incorporation, had been lawfully engaged in rendering public utility service, such the public utility shall be deemed to possess possesses a franchise to operate in such the city or village to the same extent as though such if the franchise had been formally granted by ordinance duly adopted by the governing body of such the city or village. This paragraph shall does not apply to any public utility organized under this chapter.

AB710,124,22 (2) Service contracts. (a) Cities, villages and towns A city, village or town may contract for furnishing light, heat, water, or motor bus or other systems of public transportation to the municipality or to the its inhabitants thereof for a period of not more than 30 years or for an indeterminate period if the prices are subject to adjustment at intervals of not greater than 5 years. The public service commission shall have has jurisdiction relative to over the rates and service to any city, village or town where light, heat or water is furnished to such the city, village or town under any contract or arrangement, to the same extent that the public service commission has jurisdiction where that service is furnished directly to the public.

AB710,125,2 (b) When a city, village or town has contracted for water, lighting service, or motor bus or other systems of public transportation to the municipality the cost may be raised by tax levy. In making payment to the owner of the utility a sum equal to the amount due the city, village or town from such the owner for taxes or special assessments may be deducted.

AB710,125,4 (c) This subsection shall apply applies to every city, village and town regardless of any charter limitations on the tax levy for water or light.

AB710,125,14 (d) When any If a privately owned motor bus or public transportation system in a city, village or town fails to provide service for a period in excess of 30 days, and the owner or stockholders of the privately owned motor bus or public transportation system have announced an intention to abandon service, the governing body of the affected municipality may without referendum furnish or contract for the furnishing of other motor bus or public transportation service to the municipality and its inhabitants and to the users of the defaulting prior service for a period of not more than one year. This section shall paragraph does not authorize a municipality to hire, directly or indirectly, any strikebreaker or other person for the purpose of replacing employes of said the motor bus or public transportation system engaged in a strike.

AB710, s. 170 Section 170 . 66.0627 of the statutes is created to read: