reglab/statecodes huggingface dataset:
2023 Wisconsin Statutes & Annotations › Chapter 17 - Resignations, vacancies, and removals from office. › 17.245 - New city, village or town office, filling.

17.245
New city, village or town office, filling.
Whenever an elective office is created in a city, village or town pursuant to law or ordinance, the office shall not be deemed vacant until it has first been filled by the electorate, except that if a city, village or town enacts an ordinance or bylaw creating a municipal court under s. 755.01 before the December 1 preceding the spring election the office of municipal judge for that court shall be considered vacant and a temporary appointment may be made by the city, village or town governing body pending the election of the initial elected occupant of the office.
History:  1977 c. 256, 447; 1993 a. 10; 1995 a. 16 s. 2.
2023 Wisconsin Statutes & Annotations › Chapter 17 - Resignations, vacancies, and removals from office. › 17.26 - Vacancies in school boards; how filled.

17.26
Vacancies in school boards; how filled.
(1g)
Except as provided in s. 9.10, vacancies in a school board shall be filled as follows:
(a)
Except as provided in sub. (1m), in a common, union high, or unified school district, by appointment by the remaining members. An appointee under this paragraph or sub. (1m) shall hold office until a successor is elected and takes office under s. 120.06 (4) or 120.42 (2). When a vacancy occurs in the office of a board member who is in the last year of his or her term, or when a vacancy occurs after the spring election but on or before the last Tuesday in November in the office of a board member who is not in the last year of his or her term, the successor shall be elected at the next spring election. When a vacancy occurs after the last Tuesday in November and on or before the date of the next spring election in the office of a board member who is not in the last year of his or her term, the successor shall be elected at the 2nd following spring election.
(b)
In a 1st class city school district, by special election as provided under s. 119.08 (4).
(c)
In boards where the first annual meeting of the district has failed to elect school board members, by appointment by the state superintendent of public instruction.
(1m)
If the remaining members of a school board do not appoint an individual to fill a vacancy under sub. (1g) (a) within 60 days of the date on which the vacancy first exists, the remaining members of the school board may fill the vacancy in accordance with the school board's policy under s. 120.12 (28).
(3)
Any person selected under sub. (1g) (a) or (1m), upon being notified of his or her selection, shall be deemed to have accepted the selection unless within 5 days after notification he or she files with the clerk or director a written refusal to serve.
History:  1973 c. 144; 1975 c. 138 s. 37; 1975 c. 200; 1977 c. 384, 403, 427, 445; 1979 c. 32; 1979 c. 260 ss. 82, 93m; 1979 c. 301; 1981 c. 287, 340; 1985 a. 225; 1995 a. 16 s. 2; 1995 a. 27 s. 9145 (1); 1997 a. 27; 2015 a. 63.
2023 Wisconsin Statutes & Annotations › Chapter 17 - Resignations, vacancies, and removals from office. › 17.27 - Vacancies in other offices; how filled.

17.27
Vacancies in other offices; how filled.
(1)
Joint county institutions. Vacancies in the office of any member of the governing body of a joint county hospital or sanatorium or other joint county institution, or in the office of any other officer of a joint county institution, shall be filled by appointment by the appointing power and in the manner prescribed by law for making regular full term appointments thereto. A vacancy in the office of any such officer appointed by the county board, occurring while the board is not in session, shall be filled by appointment by the chairperson of the county board; the person appointed holds office until a successor is appointed for the residue of the unexpired term by the county board at its first regular meeting held next after the vacancy occurs and the successor qualifies.
(1m)
Metropolitan sewerage commission. Vacancies in the office of any directly elected member of a metropolitan sewerage commission under s. 200.09 (11) (am) shall be filled by temporary appointment of the governor until a successor is elected and qualified. A successor shall be elected in the manner prescribed for filling vacancies in elective city offices under s. 17.23 (1) (am).
(1n)
Dane County lakes and watershed commission. If a vacancy occurs in the office of any appointed commissioner of the Dane County lakes and watershed commission, the county executive of Dane County shall appoint a member who meets the applicable requirements under s. 33.44 (1) (c) to (g).
(3)
Technical college district board. Vacancies in the membership of any technical college district board shall be filled in the manner prescribed in ss. 38.08 (2) and 38.10.
(3m)
Long-term care district board. If a vacancy occurs in the position of any appointed member of a long-term care district board, the appointing authority shall appoint to serve for the residue of the unexpired term a person who meets the applicable requirements under s. 46.2895 (3) (b).
(4)
Any other vacancy. In case of a vacancy in any office in the state where no other provision is made for filling the same, it shall be filled by appointment by the governor.
History:  1977 c. 29; 1979 c. 221; 1983 a. 192; 1989 a. 324; 1991 a. 39; 1993 a. 399; Sup. Ct. Order No. 96-08, 207 Wis. 2d xv (1997); 1999 a. 9; 1999 a. 150 s. 672; 2001 a. 16; 2007 a. 20; 2019 a. 164; 2021 a. 240 s. 29.
2023 Wisconsin Statutes & Annotations › Chapter 17 - Resignations, vacancies, and removals from office. › 17.275 - Records of applicants for elective positions.

17.275
Records of applicants for elective positions.
Unless otherwise directed under s. 19.36 (7), no appointing authority or individual acting on behalf of an appointing authority may withhold from inspection or copying under s. 19.35 (1) any record of the name or address of an applicant for appointment to fill a vacancy in an elective office.
History:  1987 a. 392; 1991 a. 269.
2023 Wisconsin Statutes & Annotations › Chapter 17 - Resignations, vacancies, and removals from office. › 17.28 - When officers may hold office.

17.28
When officers may hold office.
When no different provision is made in respect thereto, any officer who is elected or appointed to fill a vacancy shall qualify in the manner required by law of the officer in whose stead the officer is elected or appointed. An officer who is elected or appointed to fill a vacancy in an elective office shall enter upon the duties of his or her office immediately upon qualification and, if elected, upon certification of the election result, and shall hold office for the residue of the unexpired term unless removed or recalled in accordance with law except that an officer who is appointed to fill a vacancy in the office of sheriff, coroner, register of deeds or district attorney shall hold office until his or her successor is elected and qualified, unless removed or recalled in accordance with law. An officer who is appointed to fill a vacancy in an appointive office shall enter upon the duties of his or her office immediately upon qualification and shall hold office for the residue of the unexpired term, if any, and until his or her successor is appointed and qualifies unless removed in accordance with law.
History:  1983 a. 484; 1985 a. 304; 1987 a. 391.
2023 Wisconsin Statutes & Annotations › Chapter 17 - Resignations, vacancies, and removals from office. › 17.285 - Temporary vacancies; elections.

17.285
Temporary vacancies; elections.
Notwithstanding any other provision of law, if a vacancy in an elective office occurs as a result of expiration of the term of an incumbent and a successor has not been determined due to the pendency of a recount or an appeal from a recount determination, no election or special election may be ordered or held to fill the temporary vacancy. If the law provides for the vacancy to be temporarily filled by appointment, the appointee shall serve until a successor qualifies.
History:  1983 a. 484.
2023 Wisconsin Statutes & Annotations › Chapter 17 - Resignations, vacancies, and removals from office. › 17.29 - Effect of chapter.

17.29
Effect of chapter.
The provisions of this chapter supersede all contrary provisions in either the general law or in special acts, except ss. 6.55 (6), 6.875, and 7.30 relating to appointed election officials and ch. 321 relating to the military staff of the governor and to officers of the Wisconsin national guard or state defense force; and shall govern all offices whether created by general law or special act, unless otherwise specially provided.
History:  1971 c. 304 s. 29 (2); 2005 a. 451; 2007 a. 200; 2011 a. 240; 2015 a. 261.
2023 Wisconsin Statutes & Annotations › Chapter 18 - State debt, revenue obligations and operating notes. › 18.01 - Definitions.

18.01
Definitions.
In this subchapter unless a different meaning is expressly provided or the context clearly indicates a different meaning:
(1e)
“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. 18.06 (8) (a).
(b)
The aggregate debt service expected to be made on bonds related to that agreement.
(c)
The aggregate net payments expected to be made and received under all other interest exchange agreements under s. 18.06 (8) (a) relating to those bonds that are in force at the time of executing the agreement.
(1m)
“Authorizing resolution" means any resolution adopted by the commission pursuant to this subchapter which authorizes the contracting of public debt.
(2)
“Commission" means the building commission.
(3)
“Evidence of indebtedness" means a bond, a note or any other written promise to pay a public debt.
(4)
“Public debt" or “debt" means every voluntary, unconditional undertaking by the state, other than an operating note, to repay a sum certain:
(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.
History:  1973 c. 90 s. 555m (2); 1977 c. 29 s. 1652; 1979 c. 107; 1981 c. 336; 1983 a. 36 s. 96 (4); 1983 a. 189; 1985 a. 6, 29; 1991 a. 39; 2007 a. 20.
2023 Wisconsin Statutes & Annotations › Chapter 18 - State debt, revenue obligations and operating notes. › 18.02 - Scope of subchapter.

18.02
Scope of
subchapter
.
Public debt may be contracted and evidences of indebtedness issued therefor only to the amounts, for the purposes, by the procedures and with the kinds of evidence of indebtedness specified in this subchapter, except that this subchapter is not applicable:
(1)
To public debt, not exceeding in the aggregate $100,000, incurred for the purpose of defraying extraordinary expenditures of the state.
(2)
To public debt incurred to repel invasion, suppress insurrection or defend the state in time of war.
History:  1977 c. 29 s. 1652.
2023 Wisconsin Statutes & Annotations › Chapter 18 - State debt, revenue obligations and operating notes. › 18.03 - Commission.

18.03
Commission.
(1)
Subject to the conditions and limitations contained in this subchapter, the commission shall have supervision over all matters relating to the contracting of public debt and the issuance of evidences of indebtedness therefor.
(2)
(a)
The commission shall have all of the powers necessary to carry out its functions.
(b)
The commission may interpret the statutes enforced or administered by it as it considers to be necessary to effectuate the purpose of the statutes. The authority granted by this paragraph shall not exceed the authority granted by s. 227.11 (2) (a).
(c)
The commission may prescribe such forms and procedures in connection with statutes to be enforced or administered by it as it considers to be necessary to effectuate the purpose of the statutes, but nothing in this paragraph authorizes the imposition of substantive requirements in connection with such forms or procedures.
(3)
The department of administration shall assist the commission to carry out its functions and carry out all directives of the commission.
(4)
All actions of the commission shall be taken by resolution. Each authorizing resolution shall be reduced to writing. The secretary of the commission shall maintain a full and correct record of each step or proceeding had or taken in the course of authorizing and contracting every public debt.
(5)
Upon request of a state department or agency, the commission shall prepare periodic reports describing the current status of indebtedness relevant to the department's or agency's program responsibilities.
(5m)
Upon the request of a local exposition district under subch. II of ch. 229, the commission shall serve as financial consultant to assist and coordinate the issuance of bonds of the district.
(5s)
Upon the request of a local professional baseball park district created under subch. III of ch. 229 or a local professional football stadium district created under subch. IV of ch. 229, the commission may serve as financial consultant to assist and coordinate the issuance of the bonds of a district.
(6)
Nothing in this subchapter shall be construed to supersede the authority by statute of any state department or agency in carrying out program responsibilities for which public debt has been authorized by the legislature.
History:  1973 c. 90 s. 555m (2); 1977 c. 29 s. 1652; 1983 a. 36; 1985 a. 182 s. 57; 1993 a. 263; 1995 a. 56; 1999 a. 167.
2023 Wisconsin Statutes & Annotations › Chapter 18 - State debt, revenue obligations and operating notes. › 18.05 - Limitations on aggregate public debt.

18.05
Limitations on aggregate public debt.
(1)
The aggregate public debt contracted in any calendar year for purposes specified by the legislature pursuant to s. 18.04 (2) shall not exceed an amount equal to the lesser of:
(a)
Three-fourths of one percent of the aggregate value of all taxable property in the state; or
(b)
Five percent of the aggregate value of all taxable property in the state less the sum of:
1.
The aggregate public debt contracted pursuant to this subchapter which was outstanding as of January 1 of such calendar year after subtracting therefrom the amount on hand in the bond security and redemption fund and the amounts maintained pursuant to s. 18.09 (3) on January 1 of such calendar year which is applicable exclusively to repayment of such outstanding public debt; and
2.
The aggregate net indebtedness outstanding as of January 1 of such calendar year of the Wisconsin State Agencies Building Corporation, Wisconsin State Colleges Building Corporation, Wisconsin State Public Building Corporation and Wisconsin University Building Corporation.
(2)
The last determination made by the department of revenue of the full market value of all general property of the state liable to taxes pursuant to s. 70.575 shall be the aggregate value of all taxable property in the state. The department of revenue shall certify such value when requested for use in connection with the contracting of state debt.
(3)
The legislative audit bureau shall annually determine the amounts under sub. (1) (b) 1. and 2. and shall certify such amounts when requested for use in connection with the contracting of state debt. It shall use in making such determination the fair market value of all property on hand in the sinking funds of the bond security and redemption fund. It shall take into account any anticipatory contracts under s. 18.10 (1).
History:  1977 c. 29 s. 1652; 2009 a. 177.
2023 Wisconsin Statutes & Annotations › Chapter 18 - State debt, revenue obligations and operating notes. › 18.07 - Form and content of evidence of indebtedness.

18.07
Form and content of evidence of indebtedness.
(1)
Any provision of s. 403.104 to the contrary notwithstanding, every evidence of indebtedness and every interest coupon appurtenant thereto is declared to be a negotiable instrument.
(2)
Every loan agreement entered into pursuant to s. 18.06 (2) and every evidence of indebtedness given under such a loan agreement shall be executed in the name of and for the state by the secretary of the commission. Every other evidence of indebtedness shall be executed in the name of and for the state by the governor and by the secretary of administration and shall be sealed with the great seal of the state or a facsimile thereof of any size. The facsimile signature of either the governor or secretary of administration or both may be imprinted in lieu of the manual signature of such officer, as the commission directs, if approved by such officer. Evidence of indebtedness bearing the manual or facsimile signature of a person in office at the time such signature was signed or imprinted shall be fully valid notwithstanding that before or after the delivery thereof such person ceased to hold such office.
(3)
Every evidence of indebtedness shall be dated not later than the date issued, shall contain a reference by date to the appropriate authorizing resolution or resolutions and shall be in accordance therewith and, if issued for any one or more of the purposes described in s. 18.04 (1), shall so state.
(4)
An evidence of indebtedness and any interest coupon appurtenant thereto shall be in such form and contain such statements or terms, not in conflict with law or with the appropriate authorizing resolution or resolutions, as the commission directs.
History:  1973 c. 90 s. 555m (2); 1981 c. 20; 2003 a. 33.
2023 Wisconsin Statutes & Annotations › Chapter 18 - State debt, revenue obligations and operating notes. › 18.12 - Pledge of full faith.

18.12
Pledge of full faith.
The full faith, credit and taxing power of this state are irrevocably pledged to the payment of the principal, interest and premium due, if any, on all public debt. There is irrevocably appropriated through s. 20.866, as a first charge upon all revenues of this state, a sum sufficient for the payment of the installments of principal, interest and premium due, if any, on all public debt as the same falls due.
2023 Wisconsin Statutes & Annotations › Chapter 18 - State debt, revenue obligations and operating notes. › 18.13 - Suits against the state.

18.13
Suits against the state.
(1)
In general. This section and ss. 18.14 and 18.15 shall govern all civil claims, suits, proceedings and actions respecting public debt notwithstanding any contrary provision of the statutes.
(2)
To recover a debt. If the state fails to pay any public debt in accordance with its terms, an action to compel such payment may be commenced against the state in accordance with s. 801.02. The plaintiff shall serve an authenticated copy of the summons and complaint on the attorney general by leaving the copies at the attorney general's office in the capitol with an assistant or clerk. The place of trial of such an action shall be as provided in s. 801.50.
(3)
Judgment. Sections 16.53 and 775.01 shall not apply to such claims for payment of a public debt. If there is final judgment against the state in such action, it shall be paid as provided in s. 775.04 together with interest thereon at the rate of 10 percent per year from the date such payment was judged to have been due until the date of payment of such judgment.
History:  Sup. Ct. Order, 67 Wis. 2d 575, 749 (1975); 1975 c. 218; 1979 c. 32 s. 92 (5); 1979 c. 110 s. 60 (13); 1983 a. 228 s. 16; 1983 a. 410; 1995 a. 27; 1997 a. 27.
2023 Wisconsin Statutes & Annotations › Chapter 18 - State debt, revenue obligations and operating notes. › 18.14 - Validation of debt.

18.14
Validation of debt.
(1)
Notwithstanding any defects, irregularities, lack of power or failure to comply with any statute or any act of the commission, all public debt contracted or attempted to be contracted after December 7, 1969 is declared to be valid and entitled to the pledge made by s. 18.12; all instruments given after December 7, 1969 to evidence such debt 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 December 7, 1969 to authorize, issue, sell, execute, deliver or enter into such debt or such 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 contracted public debt, or that it has spent such proceeds for a purpose other than the stated purpose for which such public debt was contracted or for a purpose for which the state may not spend money, shall not affect the validity of such public debt nor the evidence of indebtedness therefor.
History:  1973 c. 90 s. 555m (2).
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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).
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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).
2023 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.
2023 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.
2023 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.
2023 Wisconsin Statutes & Annotations › Chapter 18 - State debt, revenue obligations and operating notes. › 18.75 - Operating note redemption fund.

18.75
Operating note redemption fund.
(1)
When operating notes are authorized, there shall be established in the state treasury or with a trustee if so required in the authorizing resolution, an operating note redemption fund separate and distinct from every other fund, which may contain separate and distinct accounts for each particular operating note issue.
(2)
The operating note redemption fund shall be expended and all moneys from time to time on hand therein are irrevocably appropriated, in sums sufficient, only for the payment of principal and interest on operating notes giving rise to it and premium, if any, due upon refunding or early redemption of such operating notes, and for the payment due, if any, under an agreement or ancillary arrangement entered into under s. 18.73 (5) with respect to such operating notes.
(3)
Moneys of the operating note redemption fund may be commingled only for the purpose of investment with other public funds, but they may be invested only as provided in the authorizing resolution. All such reinvestments shall be the exclusive property of such fund and all earnings on or income from such investments shall be used in meeting principal and interest payments on operating notes issued.
(4)
There shall be transferred, under s. 20.855 (1) (a), a sum sufficient for the payment of the principal, interest and premium due, if any, and for the payment due, if any, under an agreement or ancillary arrangement entered into pursuant to s. 18.73 (5) with respect to operating notes giving rise to it as the same falls due. Such transfers shall be so timed that there is at all times on hand in the fund an amount not less than the amount to be paid out of it during the ensuing 30 days or such other period if so provided for in the authorizing resolution. The commission may pledge the deposit of additional amounts at periodic intervals and the secretary of the department may impound moneys of the general fund, including moneys temporarily reallocated from other funds under s. 20.002 (11), in accordance with the pledge of revenues in the authorizing resolution, and all such impoundments are deemed to be payments for purposes of s. 16.53 (10), but no such impoundment may be made until the amounts to be paid into the bond security and redemption fund under s. 18.09 during the ensuing 30 days have been deposited in the bond security and redemption fund.
History:  1983 a. 3; 1985 a. 29 s. 3202 (56); 2007 a. 20.
2023 Wisconsin Statutes & Annotations › Chapter 18 - State debt, revenue obligations and operating notes. › 18.76 - Suits against the state.

18.76
Suits against the state.
(1)
In general. This section governs all civil claims, suits, proceedings and actions respecting operating notes notwithstanding any contrary provision of the statutes.
(2)
To recover an operating note. If the state fails to pay any operating note in accordance with its terms, an action to compel such payment may be commenced against the state in accordance with s. 801.02. The plaintiff shall serve an authenticated copy of the summons and complaint on the attorney general by leaving the copies at the attorney general's office in the capitol with an assistant or clerk. The place of trial of such an action shall be as provided in s. 801.50.
(3)
Judgment. Sections 16.007 and 775.01 do not apply to such claims for payment of operating notes. If there is final judgment against the state in such an action, it shall be paid as provided in s. 775.04 together with interest thereon at the rate of 10 percent per year from the date the payment was judged to have been due until the date of payment of the judgment.
History:  1983 a. 3; 1983 a. 228 s. 16.
2023 Wisconsin Statutes & Annotations › Chapter 18 - State debt, revenue obligations and operating notes. › 18.81 - Definitions.

18.81
Definitions.
In this subchapter:
(1)
“Commission" means the building commission.
(2)
“Eligible educational institution" means a regionally accredited, nonprofit, postsecondary educational institution.
(3)
“Higher education bond" means obligations designated by the commission under s. 18.82.
History:  1989 a. 46.
2023 Wisconsin Statutes & Annotations › Chapter 18 - State debt, revenue obligations and operating notes. › 18.822 - Debt requirements.

18.822
Debt requirements.
The authorizing resolution for an obligation under this subchapter shall require that all of the following conditions be met:
(1)
The terms of the obligation are structured to encourage ownership by as many individuals as possible.
(2)
The evidences of the obligation are issued in denominations of not more than $1,000.
History:  1989 a. 46.
2023 Wisconsin Statutes & Annotations › Chapter 18 - State debt, revenue obligations and operating notes. › 18.83 - Redemption.

18.83
Redemption.
The commission may provide that higher education bonds may be presented for payment before maturity to any eligible educational institution for tuition, fees and other educationally related costs owed that eligible educational institution plus an allowance for other educationally related costs such as room and board, books and supplies and other miscellaneous expenses owed to any person except that eligible educational institution, subject to any requirement of the commission. The commission may treat higher education bonds presented for payment under this section as still outstanding, even though owned by the state, and the commission may resell such higher education bonds or fund or refund such higher education bonds through the issuance of other obligations. If obligations are issued to fund or refund such higher education bonds, such obligations shall be treated as issued for the purpose of funding, not refunding, for all purposes under this chapter and ch. 20.
History:  1989 a. 46.
2023 Wisconsin Statutes & Annotations › Chapter 18 - State debt, revenue obligations and operating notes. › 18.84 - Schools as bond trustees or fiscal agents; contracts.

18.84
Schools as bond trustees or fiscal agents; contracts.
Notwithstanding s. 18.10 (8), the commission may designate any eligible educational institution as a trustee or fiscal agent for any issue of higher education bonds and may enter into any contract with any eligible educational institution to satisfy the purposes of this subchapter.
History:  1989 a. 46.
2023 Wisconsin Statutes & Annotations › Chapter 18 - State debt, revenue obligations and operating notes. › 18.852 - Procedure.

18.852
Procedure.
(1)
The commission may establish any procedure necessary to administer this subchapter.
(2)
The sale of any bond, authorized and issued under subch. I and designated by the commission under s. 18.82 as a higher education bond, shall be private.
History:  1989 a. 46, 68, 359.