reglab/housing_qa huggingface dataset:
WI Stat § 18.15 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 18 - State debt, revenue obligations and operating notes.|18.15 - Diversion of funds, liability of officers for.

18.15  Diversion of funds, liability of officers for. Any public officer or public employee, as defined in s. 939.22 (30), and the surety on the official bond of the officer or employee, or any other person participating in any direct or indirect impairment of the capital improvement fund or bond security and redemption fund, shall be liable in an action brought by the attorney general in the name of the state, or by any taxpayer of the state, or by the holder of any evidence of indebtedness payable in whole or in part, directly or indirectly, out of such fund, to restore to such fund all diversions therefrom.History:  1991 a. 316.
WI Stat § 18.17 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 18 - State debt, revenue obligations and operating notes.|18.17 - Full authority.

18.17  Full authority. This chapter shall constitute full authority for the accomplishment of all acts authorized in this chapter to be done. No other law restricting the carrying out of such acts shall be construed as applying to proceedings had or acts done pursuant to this chapter.
WI Stat § 18.51 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 18 - State debt, revenue obligations and operating notes.|18.51 - Provisions applicable.

18.51  Provisions applicable. The following sections apply to this subchapter, except that all references to “public debt" or “debt" shall be read to refer to a “revenue obligation" and all references to “evidences of indebtedness" shall be read to refer to “evidences of revenue obligation": ss. 18.02, 18.03, 18.07, 18.10 (1), (2), (4) to (9), (11), and (12), and 18.17.History:  1977 c. 29; 1991 a. 39; 1999 a. 9; 2003 a. 33.
WI Stat § 18.52 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 18 - State debt, revenue obligations and operating notes.|18.52 - Definitions.

18.52  Definitions. In this subchapter, unless the context requires otherwise: (1c) “Aggregate expected debt service and net exchange payments" means the sum of the following:(a) The aggregate net payments expected to be made and received under a specified interest exchange agreement under s. 18.55 (6) (a).(b) The aggregate debt service expected to be made on obligations related to that agreement.(c) The aggregate net payments expected to be made and received under all other interest exchange agreements under s. 18.55 (6) (a) relating to those obligations that are in force at the time of executing the agreement. (1e) “Ancillary payments" means payments for issuance costs and expenses, payments under contracts entered into under s. 18.55 (6), payments of accrued or funded interest, and payments of other costs and expenses of administering revenue obligations. (1m) “Authorizing resolution" means any resolution adopted by the commission under this subchapter which authorizes the contracting of a revenue obligation. (2) “Commission" means the building commission. (2m) “Enterprise obligation" means every undertaking by the state to repay a certain amount of borrowed money that is all of the following:(a) Created for the purpose of purchasing, acquiring, leasing, constructing, extending, expanding, adding to, improving, conducting, controlling, operating or managing a revenue-producing enterprise or program.(b) Payable from and secured by the property or income or both of the enterprise or program.(c) Not public debt under s. 18.01 (4). (3) “Evidence of revenue obligation" means a written promise to pay a revenue obligation. (4) “Public debt" means every voluntary, unconditional undertaking by the state to repay a certain amount of borrowed money:(a) Out of the state treasury, except a loan or advance by any state agency or fund to any other state agency or fund; or(b) For which any existing asset of the state is pledged, except the pledge of an outstanding evidence of indebtedness without recourse. (5) “Revenue obligation" means an enterprise obligation or a special fund obligation. A revenue obligation may be both an enterprise obligation and a special fund obligation. (6) “Revenue-producing enterprise" or “program" means every state enterprise or program deemed by the legislature to be likely to produce sufficient net income to pay when due the principal and interest of revenue obligations to be issued in connection therewith. (7) “Special fund obligation" means every undertaking by the state to repay a certain amount of borrowed money that is all of the following:(a) Payable from a special fund consisting of fees, penalties or excise taxes.(b) Not public debt under s. 18.01 (4). (8) “Special fund program" means a state program or purpose with respect to which the legislature has determined that financing with special fund obligations is appropriate and will serve a public purpose.History:  1977 c. 29; 1979 c. 107; 1981 c. 336; 1983 a. 36 s. 96 (4); 1999 a. 9; 2003 a. 33; 2007 a. 20.
WI Stat § 18.53 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 18 - State debt, revenue obligations and operating notes.|18.53 - Purposes of revenue obligations and amounts.

18.53  Purposes of revenue obligations and amounts. (1) The commission may authorize money to be borrowed and evidences of revenue obligation to be issued therefor in an amount sufficient to fund or refund, as provided in s. 18.60, the whole or any part of:(a) Any revenue obligation issued under this subchapter.(b) Any public debt or indebtedness described in s. 18.04. (2) The commission may authorize money to be borrowed and evidences of revenue obligation to be issued therefor, in an amount sufficient, as provided in s. 18.59:(a) To anticipate the sale of revenue-obligation bonds.(b) To renew the whole or any part of any revenue-bond anticipation notes then outstanding. (3) The commission shall authorize money to be borrowed and evidences of revenue obligation to be issued. The requirements for funds shall be established by the state department or agency head carrying out program responsibilities for which the revenue obligations have been authorized by the legislature, but shall not exceed the following:(a) In the case of enterprise obligations, the amounts specified by the legislature to purchase, acquire, lease, construct, extend, expand, add to, improve, conduct, control, operate or manage such revenue-producing enterprises or programs as are specified by the legislature.(b) In the case of special fund obligations, the amount specified by the legislature for such expenditures to be paid from special fund obligations. (4) Unless otherwise provided in laws applicable to the issuance of a specific revenue obligation, in addition to the requirements established under sub. (3), the commission shall establish the amounts required for ancillary payments and establishment of reserves relating to the revenue obligations.History:  1977 c. 29; 1999 a. 9; 2003 a. 33.
WI Stat § 18.54 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 18 - State debt, revenue obligations and operating notes.|18.54 - Limitations on revenue obligations.

18.54  Limitations on revenue obligations. (1) The amount of evidences of revenue obligation issued or outstanding for the purposes specified in s. 18.53 (1) and (2) are subject only to the limits provided in this subchapter. (2) The amount of evidences of revenue obligation issued or outstanding for purposes specified by the legislature under s. 18.53 (3) and (4) are subject only to the limits provided in the legislation which authorizes that revenue obligation. No refunding obligation is subject to any limitation specified by that legislation.History:  1977 c. 29; 1987 a. 27; 2003 a. 33.
WI Stat § 18.56 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 18 - State debt, revenue obligations and operating notes.|18.56 - Revenue obligations.

18.56  Revenue obligations. The commission may authorize, for any of the purposes described in s. 18.53 (3), the issuance of revenue obligations. The revenue obligations shall mature at any time not exceeding 50 years from the date thereof as the commission shall determine. The revenue obligations shall be payable only out of the redemption fund provided under s. 18.561 (5) or 18.562 (3) and each revenue obligation shall contain on its face a statement to that effect. A revenue obligation may contain a provision authorizing redemption, in whole or in part, at stipulated prices, at the option of the commission and shall provide the method of redeeming the revenue obligations.History:  1977 c. 29; 1979 c. 34, 155; 1989 a. 31, 46; 1999 a. 9.A federal provision subjecting interest on unregistered state and local bonds to federal income tax does not violate the 10th amendment or the intergovernmental tax immunity doctrine. South Carolina v. Baker, 485 U.S. 505 (1988).
WI Stat § 18.57 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 18 - State debt, revenue obligations and operating notes.|18.57 - Funds established for revenue obligations.

18.57  Funds established for revenue obligations. (1) A separate and distinct fund shall be established in the state treasury or in an account maintained by a trustee appointed for that purpose by the authorizing resolution with respect to each revenue-producing enterprise or program the income from which is to be applied to the payment of any enterprise obligation. A separate and distinct fund shall be established in the state treasury or in an account maintained by a trustee appointed for that purpose by the authorizing resolution with respect to any special fund program that is financed through the issuance of special fund obligations. All moneys resulting from the issuance of evidences of revenue obligation shall be credited to the appropriate fund, applied for refunding or note renewal purposes, or to make deposits to reserve funds, except that moneys which represent accrued interest or, to the extent provided in the resolution authorizing the issuance of such evidences of revenue obligation, premium received on the issuance of evidences shall be credited to the appropriate redemption fund. As determined by the commission, payments to be received under an agreement or ancillary arrangement entered into under s. 18.55 (6) with respect to any such issuance of evidences of revenue obligation shall be credited to the appropriate fund. (2) Moneys in such funds may be expended, pursuant to appropriations, only for the purposes and in the amounts for which borrowed, for the payment of the principal of and interest on related revenue obligations, to make deposits to reserve funds, and to make ancillary payments. (3) Moneys in such funds may be commingled only for the purpose of investment with other public funds, but they shall be invested only in investment instruments permitted in s. 25.17 (3) (b) or in environmental improvement fund investment instruments permitted in s. 281.59 (2m). All such investments shall be the exclusive property of such fund and all earnings on or income from investments shall be credited to such fund and shall become available for any of the purposes under sub. (2) and for the payment of interest on related revenue obligations. (4) If, after all outstanding related revenue obligations have been paid or payment provided for, moneys remain in a fund created under sub. (1), all of the following shall occur:(a) If the fund created under sub. (1) is in an account maintained by a trustee appointed by an authorizing resolution, the moneys shall be paid over to the treasury.(b) The fund created under sub. (1) shall be closed.History:  1977 c. 29; 1979 c. 34, 155; 1989 a. 366; 1995 a. 227; 1997 a. 27; 1999 a. 9, 185; 2001 a. 16; 2003 a. 33.
WI Stat § 18.58 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 18 - State debt, revenue obligations and operating notes.|18.58 - Other fiscal and administrative regulations.

18.58  Other fiscal and administrative regulations. (1) Management of funds and records. All funds established under this subchapter which are deposited in the state treasury shall be managed as provided by law for other state funds, subject to any contract rights vested in owners of evidences of revenue obligation secured by such fund. The department of administration shall maintain full and correct records of each fund. The legislative audit bureau shall audit each fund as of January 1 of each year reconciling all transactions and showing the fair market value of all property on hand. All records and audits shall be public documents. All funds established under this subchapter which are deposited with a trustee appointed for that purpose by the authorizing resolution shall be managed in accordance with resolutions authorizing the issuance of revenue obligations, agreements between the commission and the trustee and any contract rights vested in owners of revenue obligations secured by such fund. (3)  Extinguishment of debt. Interest shall cease to accrue on a revenue obligation on the date that the obligation becomes due for payment if payment is made or duly provided for, but the obligation and accrued interest shall continue to be a binding obligation according to its terms until 6 years overdue for payment, or such longer period as may be required by federal law. At that time, unless demand for its payment has been made, it shall be extinguished and shall be deemed no longer outstanding. (4)  Substantive covenants. Notwithstanding any other provision of this subchapter, the state department or agency head carrying out program responsibilities for which a revenue obligation has been authorized by the legislature shall have the authority to formulate covenants respecting the operation of the related enterprise or program. The department or agency head shall consult with the commission with respect to the effect of any proposed covenants on the sale of the proposed revenue obligation. Nothing in this subsection shall be construed to expand the powers of any state department or agency.History:  1977 c. 29; 1979 c. 34; 1999 a. 9; 2003 a. 33.
WI Stat § 18.62 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 18 - State debt, revenue obligations and operating notes.|18.62 - Revenue obligations as legal investments.

18.62  Revenue obligations as legal investments. Any other provision of law to the contrary notwithstanding, any of the following may legally invest any sinking funds, moneys, or other funds belonging to them or within their control in any revenue obligations issued under this subchapter, which shall be authorized security for all public deposits: (1) The state, the investment board, public officers, municipal corporations, political subdivisions, and public bodies. (2) Banks and bankers, savings and loan associations, credit unions, trust companies, savings banks and institutions, investment companies, insurance companies, insurance associations, and other persons carrying on a banking or insurance business. (3) Personal representatives, guardians, trustees, and other fiduciaries.History:  1977 c. 29; 2001 a. 102.
WI Stat § 18.63 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 18 - State debt, revenue obligations and operating notes.|18.63 - Validation of revenue obligations.

18.63  Validation of revenue obligations. (1) Notwithstanding any defects, irregularities, lack of power or failure to comply with any statute or any act of the commission, all revenue obligations issued or attempted to be issued after July 1, 1977 are declared to be valid; all instruments given after July 1, 1977 to evidence the obligation are declared to be binding, legal, valid, enforceable and incontestable in accordance with their terms; and all proceedings taken and certifications and determinations made after July 1, 1977 to authorize, issue, sell, execute, deliver or enter into the obligation or instruments are validated, ratified, approved and confirmed. (2) A determination, legislative, judicial or administrative, for any reason, that the state may not spend the proceeds of revenue obligations or that it has spent the proceeds for a purpose other than the stated purpose for which the revenue obligations were issued or for a purpose for which the state may not spend money, shall not affect the validity of the revenue obligations nor the evidence of revenue obligation therefor.History:  1977 c. 29.
WI Stat § 18.70 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 18 - State debt, revenue obligations and operating notes.|18.70 - Provisions applicable.

18.70  Provisions applicable. The following sections apply to this subchapter, except that all references to “public debt," “debt," or “revenue obligation" are deemed to refer to “operating notes," all references to “evidence of indebtedness" are deemed to refer to “evidence of operating note," and all references to “evidences of indebtedness" are deemed to refer to “evidences of operating notes": ss. 18.03, 18.06 (8), 18.07, 18.10 (1), (2), (4) to (9), and (11), 18.17, 18.52 (1m), 18.61 (1), 18.62, and 18.63. History:  1983 a. 3; 1991 a. 39; 2003 a. 320.
WI Stat § 18.71 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 18 - State debt, revenue obligations and operating notes.|18.71 - Definitions.

18.71  Definitions. In this subchapter, unless the context requires otherwise: (1d) “Aggregate expected debt service and net exchange payments" means the sum of the following:(a) The aggregate net payments expected to be made and received under a specified interest exchange agreement under s. 18.73 (5) (a).(b) The aggregate debt service expected to be made on notes related to that agreement.(c) The aggregate net payments expected to be made and received under all other interest exchange agreements under s. 18.73 (5) (a) relating to those notes that are in force at the time of executing the agreement. (1m) “Commission" means the building commission. (2) “Department" means the department of administration. (3) “Evidence of operating note" means a written promise to pay an operating note. (4) “Operating note" means every undertaking of the state to repay a certain amount of a financial obligation which is:(a) Created for the purpose of funding operating deficits of the state as determined under s. 16.405 (1), which must be repaid not later than the last day of the fiscal year during which the operating note is issued;(b) Payable from and secured solely by revenues pledged by the commission and the department pursuant to the authorizing resolution provided that all such pledged revenues must first be available for the payment of public debt; and(c) Not public debt under s. 18.01 (4) nor a revenue obligation under s. 18.52 (5). (5) “Public debt" or “debt" has the meaning given under s. 18.01 (4).History:  1983 a. 3; 1983 a. 36 s. 96 (4); 1983 a. 192; 1985 a. 29; 2007 a. 20.Operating notes that are short-term borrowings to be repaid in the current year from tax collections that are in the process of collection, are not public debt under Art. XI, s. 3. State ex rel. La Follette v. Stitt, 114 Wis. 2d 358, 338 N.W.2d 684 (1983).
WI Stat § 18.72 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 18 - State debt, revenue obligations and operating notes.|18.72 - Purposes of operating notes.

18.72  Purposes of operating notes. (1) The commission 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. 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. (2) The commission 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. (3) Each purpose specified in subs. (1) and (2) may include the expenses of issuance of the operating notes and reserves securing the operating notes. (4) No operating note issued under this section may have a maturity date later than the last day of the fiscal year during which the operating note is issued.History:  1983 a. 3; 1985 a. 29.
WI Stat § 18.725 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 18 - State debt, revenue obligations and operating notes.|18.725 - Limit on amount of operating notes.

18.725  Limit on amount of operating notes. The building commission may not sell operating notes under s. 18.73 (2) 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 percent 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.History:  1985 a. 29.
WI Stat § 18.74 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 18 - State debt, revenue obligations and operating notes.|18.74 - Application of operating note proceeds.

18.74  Application of operating note proceeds. All moneys resulting from the contracting of operating notes or any payment to be received under an agreement or ancillary arrangement entered into under s. 18.73 (5) with respect to any such operating notes shall be credited to the general fund, except that moneys which represent premium and accrued interest on operating notes, or moneys for purposes of funding or refunding operating notes pursuant to s. 18.72 (1) shall be credited to the operating note redemption fund.History:  1983 a. 3; 2007 a. 20.