AB275,7,7
124.66 (1) (ag) No trust fund loan may be made unless an application is made
2to the board under this section. The application shall state the amount of money
3required, the purpose to which it is to be applied, the times and terms of repayment,
4whether the loan is sought for an educational technology or distance education
5project under s. 24.61 (3) (d),
and, in the case of a cooperative educational service
6agency, the names of the school districts participating in the distance education
7project for which the loan is sought. The
AB275,7,9 8(bg) An application for a general obligation trust fund loan shall be
9accompanied by satisfactory proof of all of the following:
AB275, s. 14 10Section 14. 24.66 (1) (a) of the statutes is renumbered 24.66 (1) (bg) 1. and
11amended to read:
AB275,7,1312 24.66 (1) (bg) 1. Of the The valuation of all the taxable property within the
13municipality as equalized for state purposes;.
AB275, s. 15 14Section 15. 24.66 (1) (b) of the statutes is renumbered 24.66 (1) (bg) 2. and
15amended to read:
AB275,7,1616 24.66 (1) (bg) 2. Of all All the existing indebtedness of the municipality; and .
AB275, s. 16 17Section 16. 24.66 (1) (c) of the statutes is renumbered 24.66 (1) (bg) 3. and
18amended to read:
AB275,7,2019 24.66 (1) (bg) 3. Of the The approval of the application as required by subs. (2)
20to (4).
AB275, s. 17 21Section 17. 24.66 (1) (cg) of the statutes is created to read:
AB275,7,2322 24.66 (1) (cg) An application for a revenue obligation trust fund loan shall be
23accompanied by all of the following:
AB275,8,224 1. If the loan is for a project that will be secured in the manner specified in s.
2524.60 (2m) (a), a statement of the revenue that the municipality anticipates receiving

1from moneys generated by that project, and the municipality's pledge and first
2priority assignment of those revenues to pay off the loan.
AB275,8,73 2. If the loan is for project costs that will be secured in the manner specified in
4s. 24.60 (2m) (b) to (d), a statement of the tax increments that the municipality
5anticipates will be allocated to the municipality for those project costs by the
6department of revenue and the municipality's pledge and first priority assignment
7of that allocation to pay off the loan.
AB275,8,108 3. Satisfactory proof of the amount of annual shared revenue payments made
9to the municipality under subch. I of ch. 79 in the year immediately preceding the
10year in which the application for the loan is made.
AB275,8,1111 4. Satisfactory proof of the approval of the application as required by sub. (2).
AB275, s. 18 12Section 18. 24.66 (3m) of the statutes is amended to read:
AB275,8,2013 24.66 (3m) For educational technology or distance education loans. An
14application by a county, city, village or town to undertake an educational technology
15or distance education project, or by a consortium that includes a county, city, village
16or town under s. 24.61 (3) (d)
shall be accompanied by a resolution of the county or
17municipal library board for that county, city, village or town, or the county or
18municipal library board of each county, city, village or town participating in the
19consortium,
requesting the county, city, village or town to apply for the loan for the
20purpose of conducting an educational technology or distance education project.
AB275, s. 19 21Section 19. 24.66 (5) (a) of the statutes is amended to read:
AB275,9,1622 24.66 (5) (a) Every application for a general obligation trust fund loan under
23this section by a municipality shall be accompanied by a certified copy under the
24hand of the proper clerk of a recorded resolution adopted by the municipality
25applying for or approving the loan, levying, except as provided in par. (b), upon all

1the taxable property of the municipality a direct annual tax for the purpose of paying
2and sufficient to pay the principal and interest on the proposed loan as they become
3due. In a 1st class city school district, the application shall be accompanied by a
4certified copy of a resolution, adopted by the board of school directors, stating that
5it is the intention of the board of school directors to include in its budget transmitted
6to the common council under s. 119.16 (8) (b) a written notice specifying the amount
7of money necessary to pay the principal and interest on the loan as they become due.
8Every application for a general obligation trust fund loan under this subsection by
9a cooperative educational service agency shall be accompanied by a copy of a recorded
10resolution adopted by the school board of each school district for which the loan is
11sought, certified by the school district clerk of that school district, levying upon all
12taxable property of the school district a direct annual tax for the purpose of paying
13and sufficient to pay the school district's share of the principal and interest on the
14proposed loan as they become due. The levy imposed by the municipality shall be
15void if the board declines to make the loan; otherwise it shall remain valid and
16irrepealable until the loan and all interest on the loan are fully paid.
AB275, s. 20 17Section 20. 24.67 (1) (d) of the statutes is amended to read:
AB275,9,1818 24.67 (1) (d) For a city, by its mayor or city manager.
AB275, s. 21 19Section 21. 24.67 (2) (a) of the statutes is amended to read:
AB275,9,2120 24.67 (2) (a) For the county, town, village, or city, by the clerk of that county,
21town, village, or city.
AB275, s. 22 22Section 22. 24.67 (3) of the statutes is amended to read:
AB275,9,2523 24.67 (3) If a municipality has acted under subs. (1) and (2), it shall certify that
24fact to the department of administration board. Upon receiving a certification from
25a municipality, or upon direction of the board if a loan is made to a cooperative

1educational service agency, drainage district created under ch. 88, local professional
2baseball park district created under subch. III of ch. 229, or a federated public library
3system, the secretary of administration board shall draw a warrant for disburse the
4amount of the loan amount, payable to the treasurer of the municipality, cooperative
5educational service agency, drainage district, or federated public library system
6making the loan or as the treasurer of the municipality, cooperative educational
7service agency, drainage district, local professional baseball park district, or
8federated public library system directs. The certificate of indebtedness shall then be
9conclusive evidence of the validity of the indebtedness and that all the requirements
10of law concerning the application for the making and acceptance of the loan have
11been complied with.
AB275, s. 23 12Section 23. 24.68 of the statutes is amended to read:
AB275,10,15 1324.68 Payment of state trust fund loans. All the taxable property in any
14municipality which obtains a general obligation trust fund loan shall stand charged
15for the payment of the principal and interest on that loan.
AB275, s. 24 16Section 24. 24.70 (3) of the statutes is amended to read:
AB275,11,217 24.70 (3) Amount added to municipal levy. Upon receipt of a certified
18statement by a municipal clerk, the municipal clerk shall then cause the amount to
19be added to the municipal levy and collected in the same manner as the municipal
20tax except the amount for the state trust fund loan shall be separately designated.
21Upon receipt of a certified statement by a school district clerk from a cooperative
22educational service agency, the clerk shall cause the amount for which the district
23is responsible under s. 24.61 (7) to be added to the school district levy and collected
24in the same manner as the school district tax, except that the amount for the loan

1shall be separately stated. This subsection does not apply to revenue obligation trust
2fund loans.
AB275, s. 25 3Section 25. 24.70 (4) of the statutes is amended to read:
AB275,11,104 24.70 (4) Payment to board. The treasurer of each municipality shall transmit
5remit to the board on its order the full amount levied due for state trust fund loans
6within 15 days after March 15. Each cooperative educational service agency shall
7similarly transmit remit the annual amount owed on any state trust fund loan made
8to the agency by that date. Any payment not made by March 30 is delinquent and
9is subject to a penalty of one percent per month to be paid to the board with the
10delinquent payment.
AB275, s. 26 11Section 26. 24.70 (6) of the statutes is amended to read:
AB275,11,1812 24.70 (6) Failure to make payments. If any municipality fails to remit the
13amount due by the date specified under sub. (4), the board may shall file a certified
14statement of the delinquent amount with the department of administration. The
15secretary of administration shall collect the amount due, including any penalty, by
16deducting that amount from any state payments due the municipality and, shall
17notify the treasurer and the board of that action, and shall immediately remit to the
18board any amounts deducted from any state payments due to the municipality
.
AB275, s. 27 19Section 27. 24.71 (3) of the statutes is amended to read:
AB275,11,2420 24.71 (3) Added to school district levy. The school district clerk shall then
21cause the amount due to be added to the school district levy and collected in the same
22manner as the school district tax except the amount for state trust fund loans shall
23be separately designated. This subsection does not apply to revenue obligation trust
24fund loans.
AB275, s. 28 25Section 28. 24.71 (4) of the statutes is amended to read:
AB275,12,5
124.71 (4) Payment to board. The school district treasurer shall transmit remit
2to the board the full amount levied due for state trust fund loans within 15 days after
3March 15. Any payment not made by March 30 is delinquent and is subject to a
4penalty of one percent per month or fraction thereof, to be paid to the board with the
5delinquent payment.
AB275, s. 29 6Section 29. 24.71 (5) of the statutes is amended to read:
AB275,12,127 24.71 (5) Failure to make payment. If the school district treasurer fails to remit
8the amounts due under sub. (4), the state superintendent, upon certification of
9delinquency by the board, shall deduct the amount due including any penalty from
10any school aid payments due the school district, shall remit such amount to the
11secretary of administration board and, no later than June 15, shall notify the school
12district treasurer and the board to that effect.
AB275, s. 30 13Section 30. 24.715 (3) of the statutes is amended to read:
AB275,12,1814 24.715 (3) Payment to board. The system board shall transmit remit to the
15board on its own order the full amount levied due for state trust fund loans within
1615 days after March 15. Any payment not made by March 30 is delinquent and is
17subject to a penalty of one percent per month or fraction thereof, to be paid to the
18board with the delinquent payment.
AB275, s. 31 19Section 31. 24.715 (4) of the statutes is amended to read:
AB275,12,2520 24.715 (4) Failure to make payment. If the system board fails to remit the
21amounts due under sub. (3), the state superintendent, upon certification of
22delinquency by the board, shall deduct the amount due, including any penalty, from
23any aid payments due the system, shall remit such amount to the state treasurer
24board and, no later than June 15, shall notify the system board and the board to that
25effect.
AB275, s. 32
1Section 32. 24.716 (3) of the statutes is amended to read:
AB275,13,62 24.716 (3) Payment to board. The district board shall transmit remit to the
3board on its own order the full amount levied due for state trust fund loans within
415 days after March 15. Any payment not made by March 30 is delinquent and is
5subject to a penalty of 1 percent per month or fraction thereof, to be paid to the board
6with the delinquent payment.
AB275, s. 33 7Section 33. 24.716 (4) of the statutes is amended to read:
AB275,13,138 24.716 (4) Failure to make payment. If the district board fails to remit the
9amounts due under sub. (3), the secretary of administration, upon certification of
10delinquency by the board of commissioners of public lands, shall deduct the amount
11due, including any penalty, from any state aid payments due the district, shall remit
12such amount to the secretary of administration board, and, no later than June 15,
13shall notify the district board and the board to that effect.
AB275, s. 34 14Section 34. 24.717 (3) of the statutes is amended to read:
AB275,13,2015 24.717 (3) Payment to board. The local professional baseball park district
16board shall transmit remit to the board of commissioners of public lands on its own
17order the full amount levied due for state trust fund loans within 15 days after March
1815. Any payment not made by March 30 is delinquent and is subject to a penalty of
191 percent per month or fraction thereof, to be paid to the board of commissioners of
20public lands with the delinquent payment.
AB275, s. 35 21Section 35. 24.717 (4) of the statutes is amended to read:
AB275,14,322 24.717 (4) Failure to make payment. If the local professional baseball park
23district board fails to remit the amounts due under sub. (3), the secretary of
24administration, upon certification of delinquency by the board of commissioners of
25public lands, shall deduct the amount due, including any penalty, from any state

1payments due the district, shall remit such amount to the secretary of
2administration
board, and, no later than June 15, shall notify the district board and
3the board of commissioners of public lands to that effect.
AB275, s. 36 4Section 36. 121.07 (1) (a) of the statutes is amended to read:
AB275,14,95 121.07 (1) (a) The membership of the school district in the previous school year
6and the shared cost for the previous school year shall be used in computing general
7aid. If a school district has a state trust fund loan as a result of s. 24.61 (3) (c) 2., 2009
8stats.,
the school district's debt service costs shall be based upon current school year
9costs for the term of the loan and for one additional school year.
AB275,14,1010 (End)
Loading...
Loading...