LRB-3063/1
JK:skw
2021 - 2022 LEGISLATURE
July 26, 2021 - Introduced by Representatives Cabral-Guevara, Macco,
Brandtjen, Dittrich, Edming, Horlacher, Moses, Murphy, Knodl,
Kuglitsch, Thiesfeldt and Wichgers, cosponsored by Senators Jacque,
Stroebel and Nass. Referred to Committee on Government Accountability
and Oversight.
AB475,1,3
1An Act to amend 67.05 (3) (d) of the statutes;
relating to: including with a
2referendum question for issuing bonds a statement of the estimated interest
3accruing on the amount of the bonds.
Analysis by the Legislative Reference Bureau
Under current law, whenever a municipality, county, or school district must
hold a referendum seeking voter approval for issuing bonds, the referendum
question must include a statement of the purpose for which bonds are to be issued
and the maximum amount of the bonds to be issued. Under this bill, the statement
included with the referendum question must also provide the estimated amount of
the interest accruing on the amount of the bonds, along with the interest rate. If the
interest rate is a variable rate, the statement must also specify the amount of the
interest accruing on the amount of the bonds calculated using the lowest rate during
the term for which the rate is applicable and the amount of the interest accruing on
the amount of the bonds calculated using the highest rate during the term for which
the rate is applicable.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB475,1
4Section
1. 67.05 (3) (d) of the statutes is amended to read:
AB475,2,8
167.05
(3) (d) The question shall contain a statement of the purpose for which
2bonds are to be issued
and, the maximum amount of the bonds to be issued
, and the
3estimated amount of the interest accruing on the amount of the bonds, along with
4the interest rate. If the interest rate is a variable rate, the statement shall specify
5the amount of the interest accruing on the amount of the bonds calculated by using
6the lowest rate during the term for which the rate is applicable and the amount of
7the interest accruing on the amount of the bonds calculated by using the highest rate
8during the term for which the rate is applicable.
