Chapter 234 — WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY

234.01 Definitions. In this chapter: (1) “Authority” means the Wisconsin Housing and Economic Development Authority. (2) “Authority cost” means any costs incurred by the authority in carrying out and administering any of its powers, duties and functions including, but not limited…

234.02 Wisconsin Housing and Economic Development Authority: creation; membership; appointment and tenure; meetings; officers. (1) There is created a public body corporate and politic to be known as the “Wisconsin Housing and Economic Development Authority.” The members of the au…

234.03 (18m), or in which the authority has invested funds under s. 234.03 (18m), unless the person consents to disclosure of the information. History: 1971 c. 287; 1983 a. 81, 83, 192; 1985 a. 29, 334; 1987 a. 421; 1989 a. 31, 335, 336, 359; 1991 a. 39, 309; 1993 a. 16, 437; 199…

234.032 Goals and accountability measures for economic development programs.

234.034 Consistency with state housing strategy plan. 234.04 Loans to eligible sponsors of housing projects and to or for persons and families of low and moderate income.

234.04 Loans to eligible sponsors of housing projects and to or for persons and families of low and moderate income. (1) The authority may make or participate in the making of construction loans to eligible sponsors of housing projects for the construction or rehabilitation of ho…

234.045 Workforce housing rehabilitation loan program. 234.05 Housing development fund; establishment; payments into fund. 234.06 Use of moneys held in housing development fund; temporary loans; grants. 234.07 Limited-profit entity; distributions. 234.08 Notes and bonds; issuance…

234.05 Housing development fund; establishment; payments into fund. (1) There is established under the jurisdiction and control of the authority a revolving fund to be known as the “housing development fund”. (2) There shall be paid into the housing development fund: (a) Any mone…

234.06 Use of moneys held in housing development fund; temporary loans; grants. (1) The authority may, as authorized in the state housing strategy plan under s. 16.302, use the moneys held in the housing development fund to make temporary loans to eligible sponsors, with or witho…

234.07 Limited-profit entity; distributions. (1) Except as provided in sub. (2), a limited-profit entity which receives loans from the authority may not make distributions, other than from funds contributed to the limited-profit entity by stockholders, partners, members or holder…

234.08 Notes and bonds; issuance; status. (1) The authority may issue its negotiable notes and bonds in such principal amount, as, in the opinion of the authority, is necessary to provide sufficient funds for achieving its corporate purposes, including the purchase of certain mor…

234.09 Same; authorization; terms. The notes and bonds shall be authorized by resolution of the members of the authority; shall bear such date or dates, and shall mature at such time or times, in the case of any note, or any renewal thereof, not exceeding 5 years, from the date o…

234.10 Same; resolution authorizing issuance, contents. Any resolution authorizing any notes or bonds or any issue thereof may contain provisions, which shall be a part of the contract with the holders thereof, as to: (1) Pledging all or any part of the fees and charges made or r…

234.11 Same; validity and effect of pledge. Any pledge made by the authority shall be valid and binding from the time when the pledge is made; the moneys or property so pledged and thereafter received by the authority shall immediately be subject to the lien of such pledge withou…

234.12 Same; personal liability of members of authority. Neither the members of the authority nor any person executing the notes or bonds shall be liable personally on the notes or bonds or be subject to any personal liability or accountability by reason of the issuance thereof. …

234.135 Same; purchase; cancellation. 234.14 Same; liability of state. 234.15 Capital reserve funds. 234.16 General reserve fund.

234.14 Same; liability of state. The state shall not be liable on notes or bonds of the authority and such notes and bonds shall not be a debt of the state. All notes and bonds of the authority shall contain on the face thereof a statement to such effect. History: 1971 c. 287.

234.15 Capital reserve funds. (1g) In this section, “capital reserve fund requirement” means, as of any particular date of computation, an amount of money, as provided in the resolutions of the authority authorizing the bonds with respect to which a capital reserve fund is establ…

234.16 General reserve fund. The authority shall establish a special fund, referred to in this chapter as general reserve fund, and shall pay into such fund all fees and charges collected by the authority and any moneys which the authority transfers from the capital reserve fund.…

234.165 Authority surplus fund. 234.17 Repayment to general fund. 234.18 Limit on amount of outstanding bonds and notes. 234.19 Notes and bonds; pledge and agreement of state. 234.20 Default; trustee. 234.21 Trustee; additional powers. 234.22 Venue. 234.23 Notice before declarati…

234.17 Repayment to general fund. (1) The authority shall repay the amounts appropriated under s. 20.143 (1) (a), 1971 stats., to the general fund from that portion of the authority’s surplus, if any, as is determined by agreement between the authority and the secretary of admini…

234.18 Limit on amount of outstanding bonds and notes. (1) The authority may not issue notes and bonds that are secured by a capital reserve fund to which s. 234.15 (4) applies if, upon issuance, the total aggregate outstanding principal amount of notes and bonds that are secured…

234.19 Notes and bonds; pledge and agreement of state. The state pledges and agrees with the holders of any notes or bonds issued under this chapter, that the state will not limit or alter the rights vested in the authority to fulfill the terms of any agreements made with the hol…

234.20 Default; trustee. (1) If the authority defaults in the payment of principal of or interest on any issue of notes or bonds after they become due, whether at maturity or upon call for redemption, and the default continues for a period of 30 days or if the authority fails or …

234.21 Trustee; additional powers. The trustee, in addition to the powers granted in s. 234.20 shall have all of the powers necessary or appropriate for the exercise of any functions specifically set forth in this chapter or incident to the general representation of noteholders o…

234.22 Venue. The venue of any action or proceeding by the trustee under ss. 234.19, 234.20 and 234.21 shall be in Dane County. History: 1971 c. 287.

234.23 Notice before declaration that notes or bonds are due and payable. Before declaring the principal of notes or bonds due and payable, the trustee shall first give 30 days’ notice in writing to the governor, the authority and the attorney general. History: 1971 c. 287.

234.24 System of funds and accounts. Subject to agreements with noteholders and bondholders, the authority shall prescribe a system of funds and accounts. History: 1971 c. 287; 1975 c. 221; 1983 a. 81.

234.25 Annual report. (1) The authority shall submit to the governor, the cochairpersons of the joint committee on finance, the senate committee on housing and urban development, the assembly committee on municipalities, such other committees as the legislature by joint resolutio…

234.255 Economic development assistance coordination and reporting. 234.26 Notes and bonds as legal investments.

234.26 Notes and bonds as legal investments. (1) Any of the following persons or entities may legally invest any sinking funds, moneys, or other funds belonging to them or within their control in any notes or bonds issued by the authority: (a) The state, the investment board, all…

234.265 Records of the authority. 234.28 Notes and bonds; exemption from taxation. 234.29 Equality of occupancy and employment. 234.30 Cooperation. 234.31 Construction of chapter. 234.32 Laws not applicable to authority. 234.35 Minority financial interests. 234.36 Disabled vetera…

234.28 Notes and bonds; exemption from taxation. The state covenants with the purchasers and all subsequent holders and transferees of notes and bonds issued by the authority, in 234.36 consideration of the acceptance of any payment for the notes and bonds, that its fees, charges…

234.29 Equality of occupancy and employment. The authority shall require that occupancy of housing projects assisted under this chapter be open to all regardless of sex, race, religion, sexual orientation, status as a victim of domestic abuse, sexual assault, or stalking, as defi…

234.30 Cooperation. The heads of all departments, boards, councils, committees and commissions in the administrative branch, and the heads of the various divisions, sections and departments thereunder, shall extend their full and unlimited cooperation, including but not limited t…

234.31 Construction of chapter. This chapter is necessary for the welfare of this state and its inhabitants; therefore, it shall be liberally construed to effect its purpose. History: 1971 c. 287.

234.32 Laws not applicable to authority. (1) Chapter 138 shall not apply to the authority. (2) The authority may adopt by resolution ch. 34, or any section, subsection, paragraph or subdivision of ch. 34. If adopted by resolution of the authority, ch. 34, or any section, subsecti…

234.35 Minority financial interests. (1) In this section, “minority business,” “minority financial adviser,” and “minority investment firm” mean a business, financial adviser, and investment firm, respectively, certified by the department of administration under s. 16.287 (2). (2…

234.36 Disabled veteran-owned business financial interests. (1) In this section, “business,” “financial adviser,” and “investment firm” mean a business, financial adviser, and investment firm certified by the department of administration under s. 16.283 (3). (2) The authority sha…

234.40 Bonds for veterans housing loans and other veterans assistance programs. (1) The authority shall issue its negotiable bonds in such principal amount and length of maturity as to provide sufficient funds for veterans housing loans made pursuant to s. 45.37, 2017 stats. (2) …

234.41 Veterans housing loan fund; establishment and use. (1) There is established under the jurisdiction of the authority a veterans housing loan fund. All moneys resulting from the sale of bonds for the purpose of veterans housing pursuant to s. 45.37, 2017 stats., unless credi…

234.42 and 234.43. All assets and liabilities created through the issuance of bonds to purchase mortgage loans representing veterans housing loans are to be separate from all other assets and liabilities of the authority. No funds of the veterans housing loan program may be commi…

234.43 Veterans housing bond redemption fund. (1) The authority shall establish the veterans housing bond redemption fund. All mortgages purchased with moneys from the veterans housing loan fund shall be the exclusive property of the bond redemption fund. All moneys received by t…

234.44 Validation of certain obligations and proceedings. Notwithstanding any provision of this chapter or any other law, in the absence of fraud, all obligations issued prior to May 4, 1976 purportedly pursuant to this chapter, and all proceedings prior to such time taken purpor…

234.45 Low-income housing tax credits. (1) DEFINITIONS. In this section: (a) “Allocation certificate” means a statement issued by the authority certifying that a qualified development is eligible for a state tax credit and specifying the amount of the credit that the owners of th…

234.49 Housing rehabilitation. (1) DEFINITIONS. In ss. 234.49 to 234.55: (b) “Authorized lender” means any lender authorized under sub. (2) (a) 4. to make or service housing rehabilitation loans but does not include a person licensed under s. 138.09. (c) “Eligible beneficiary” me…

234.50 Bonds for housing rehabilitation loans; issuance; status. (1) The authority may issue its negotiable bonds in such principal amount and of such length of maturity as, in the opinion of the authority, is necessary to provide sufficient funds for purchasing housing rehabilit…

234.51 Housing rehabilitation loan program administration fund; establishment and use. (1) There is established under the jurisdiction of the authority a housing rehabilitation loan program administration fund. There shall be paid into such fund the amounts appropriated under s. …

234.52 Housing rehabilitation loan program loan-loss reserve fund; establishment and use. (1) There is established under the jurisdiction of the authority a housing rehabilitation loan program loan-loss reserve fund. There shall be paid into such fund the amounts appropriated und…

234.53 Housing rehabilitation loan fund. (1) The authority shall establish the housing rehabilitation loan fund. All moneys resulting from the sale of bonds issued under the authority of s. 234.50, not including bonds issued to refund outstanding bonds, and unless credited to the…