Chapter 67, MUNICIPAL BORROWING AND MUNICIPAL BONDS
24 sections in this chapter.
Wis. Stat. § 67.01 Definitions and interpretations
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67.01 Definitions and interpretations. In this chapter, unless the context or subject matter otherwise requires: (1) “Clerk” includes the secretary of the metropolitan sewerage commission under s. 200.27 (4). (2) “Governing body” includes a town or county board, the legislative b…
Wis. Stat. § 67.015 Housing authorities exempted
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67.015 Housing authorities exempted. This chapter shall not be applicable to borrowing by housing authorities or county veterans housing authorities under ss. 66.1201 to 66.1213. History: 1999 a. 150 s. 672; 2005 a. 22.
Wis. Stat. § 67.02 Validation of debt
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67.02 Validation of debt. (1) Validations before January 1, 1922, effected by legislative enactments of defective or irregular procedure in the creation, execution or issue of municipal obligations continue unaffected by the repeal of the enactments or by the consolidation and re…
Wis. Stat. § 67.025 Certification of municipal obligations
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67.025 Certification of municipal obligations. In any municipality, the officers charged with the negotiation and sale of MUNICIPAL BORROWING its municipal obligations may, in their discretion, prior to the issuance thereof, submit to the attorney general or to an attorney employ…
Wis. Stat. § 67.03 Grant of power to borrow; general limitations of indebtedness
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67.03 Grant of power to borrow; general limitations of indebtedness. (1) (a) Except as provided in s. 67.01 (9), municipalities may borrow money and issue municipal obligations therefor only for the purposes and by the procedure specified in this chapter. The aggregate amount of …
Wis. Stat. § 67.035 Tax limitations not applicable to debt levies
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67.035 Tax limitations not applicable to debt levies. All taxes levied or to be levied by any municipality proceeding under this chapter for the purpose of paying principal and interest on valid bonds or notes, other than noncapital notes, as defined in s. 38.16 (3) (a) 2r., now …
Wis. Stat. § 67.04 Purposes of issuing municipal bonds and notes
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67.04 Purposes of issuing municipal bonds and notes. (1) In this section: (a) “Ancillary charges” include site preparation expenditures, professional fees, legal claims directly attributable to asset acquisition and interest costs incurred prior to and during construction. (ag) “…
Wis. Stat. § 67.045 Debt issuance conditions
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67.045 Debt issuance conditions. (1) The governing body of a county may not issue bonds under s. 67.05 or promissory notes under s. 67.12 (12) unless one or more of the following apply: (a) A referendum is held, following the procedures in s. 67.05 (3), that approves the debt iss…
Wis. Stat. § 67.05 Bond issues; procedure
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67.05 Bond issues; procedure. 67.05(1)(1) Initial resolution by governing body. If any municipality seeks to issue a bond under s. 67.04, the governing body of the municipality shall, prior to the issuance of the bond, adopt a resolution that states the purpose for and maximum am…
Wis. Stat. § 67.06 Form and contents of bonds
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67.06 Form and contents of bonds. Every municipal bond shall be a negotiable instrument payable to bearer, or, in case of registered bonds, to the registered owner; shall bear interest; shall specify the times and the place or places of payment of principal and interest; shall be…
Wis. Stat. § 67.07 Maturity and place of payment
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67.07 Maturity and place of payment. The principal of every sum borrowed and secured by an issue of municipal bonds may be made payable at one time in a single payment or at several times in 2 or more installments; but every installment, whether of principal or interest, shall be…
Wis. Stat. § 67.08 Execution and negotiation
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67.08 Execution and negotiation. (1) Municipal obligations shall be executed in the name of and for the municipality issuing them by their qualified officers who shall, for that purpose, sign the same in their official capacities, as follows: for a county, the chairperson of the …
Wis. Stat. § 67.09 Registration of municipal obligations
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67.09 Registration of municipal obligations. (1) All municipal obligations may be payable to bearer or may be registered as to the principal or principal and interest by the clerk or treasurer of the municipality issuing them or such other officers or agents, including fiscal age…
Wis. Stat. § 67.10 Fiscal and administrative regulations
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67.10 Fiscal and administrative regulations. (1) MONEY OF THE UNITED STATES. All money received in payment of any tax levied under this chapter shall be lawful money of the United States; all municipal obligations shall be issued in exchange for lawful money of the United States …
Wis. Stat. § 67.101 Debt amortization in 1st class cities
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67.101 Debt amortization in 1st class cities. (1) In this section “amortization fund” means the public debt amortization fund established under this section and “commission” means the public debt commission created under section 5 of chapter 87, laws of 1861. In every 1st class c…
Wis. Stat. § 67.11 Debt service fund
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67.11 Debt service fund. (1) Each municipality that issues municipal obligations under this chapter, except obligations issued under s. 67.12 (1), (8) and (8m), shall establish and maintain a debt service fund in accordance with generally accepted accounting principles. The fund …
Wis. Stat. § 67.12 Temporary borrowing and borrowing on promissory notes
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67.12 Temporary borrowing and borrowing on promissory notes. (1) BORROWING IN ANTICIPATION OF REVENUES. (a) Except for school districts and technical college districts, any municipality that becomes entitled to receive federal or state aids, taxes levied or other deferred payment…
Wis. Stat. § 67.15 Variable rate obligations
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67.15 Variable rate obligations. (1) In this section: (a) “Credit facility” means a standby or direct payment letter of credit, an insurance policy or other commitment to pay the principal of, or interest on, a municipal obligation. (b) “Liquidity facility” means a standby or dir…
Wis. Stat. § 67.16 General obligation-local improvement bonds
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67.16 General obligation-local improvement bonds. (1) In this section: (a) “Debt service fund” means the fund, however derived, set aside for the payment of principal and interest on bonds issued under this section. (b) “Governing body” means the body or board vested by statute w…
Wis. Stat. § 67.17 Diversion of funds, liability of officers for
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67.17 Diversion of funds, liability of officers for. Every public officer, and the sureties on the officer’s official bond, and every other person participating directly or indirectly in any impairment of a borrowed money fund or of a debt service fund of any municipality, shall …
Wis. Stat. § 67.22 Issuance stayed by protest
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67.22 Issuance stayed by protest. No bonds, other than MUNICIPAL BORROWING 67.26 refunding bonds, may be issued in any cases where, within 30 days after the adoption of the initial resolution under s. 67.05 (1), a petition is filed with the clerk of the municipality contemplating…
Wis. Stat. § 67.24 Validation of obligations of incorporated municipality
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67.24 Validation of obligations of incorporated municipality. (1) Any municipality, however incorporated, exercising functions of government after such incorporation may borrow money, within constitutional limitations, for the purpose of financing any building, improvement, work …
Wis. Stat. § 67.25 Redevelopment bonds
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67.25 Redevelopment bonds. Any proceedings by a city prior to October 4, 1959 for the issuance of general obligation bonds as authorized by s. 66.1333 (13) in effect at the time of such proceedings, to provide financial assistance to blight elimination, slum clearance, redevelopm…
Wis. Stat. § 67.26 Judgments on municipal orders
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67.26 Judgments on municipal orders. No judgment shall be rendered in any action brought upon any county, town, city, village or school order, unless the order upon which said action is based is produced in evidence and filed with the court or MUNICIPAL BORROWING with the clerk t…