February 21, 2023 - Introduced by Senators Cabral-Guevara, Jacque, Cowles, Nass and Stroebel, cosponsored by Representatives Gustafson, Macco, Allen, Behnke, Binsfeld, Bodden, Brooks, Dittrich, Goeben, Maxey, Murphy, O’Connor, Rettinger, Schmidt, Sortwell, Spiros, Steffen and Zimmerman. Referred to Committee on Education.
SB83,,22An Act to amend 67.05 (3) (d) of the statutes; relating to: including with a referendum question for issuing bonds a statement of the estimated interest accruing on the amount of the bonds. SB83,,33Analysis 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.
SB83,,44The people of the state of Wisconsin, represented in senate and assembly, do enact as follows: SB83,15Section 1. 67.05 (3) (d) of the statutes is amended to read: SB83,,6667.05 (3) (d) The question shall contain a statement of the purpose for which bonds are to be issued and, the maximum amount of the bonds to be issued, and 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 shall specify the amount of the interest accruing on the amount of the bonds calculated by 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 by using the highest rate during the term for which the rate is applicable.
