AB1117,23,5 235.03 Powers of authority. The authority has all of the powers necessary or convenient to carry out the purposes and provisions of this chapter. In addition to all other powers granted by this chapter, the authority may do any of the following:

AB1117,23,7 (1) Adopt bylaws, policies, and procedures for the regulation of its affairs and the conduct of its business.

AB1117,23,8 (2) Sue and be sued.

AB1117,23,10 (3) Hire employees, define their duties, and fix their rate of compensation, subject to s. 235.02 (2).

AB1117,23,12 (4) Have a seal and alter the seal at pleasure, have perpetual existence, and maintain an office.

AB1117,23,16 (5) Appoint any technical or professional advisory committee that the authority finds necessary to assist the authority in exercising its duties and powers, define the duties of any committee, and provide reimbursement for the expenses of any committee.

AB1117,23,18 (6) Enter into contracts with 3rd parties as are necessary for the conduct of its business.

AB1117,23,19 (7) Accept gifts, grants, and other funding for the conduct of its business.

AB1117,23,20 (8) Charge fees for services that the authority provides.

AB1117,23,22 (9) Procure insurance against any loss in connection with its assets and procure insurance on its debt obligations.

AB1117,24,7 235.04 Political activities. (1) No employee of the authority may directly or indirectly solicit or receive subscriptions or contributions for any partisan political party or any political purpose while engaged in his or her official duties as an employee. No employee of the authority may engage in any form of political activity calculated to favor or improve the chances of any political party or any person seeking or attempting to hold partisan political office while engaged in his or her official duties as an employee or engage in any political activity while not engaged in his or her official duties as an employee to such an extent that the person's efficiency during working hours will be impaired or that he or she will be tardy or absent from work. Any violation of this subsection is adequate grounds for dismissal.

AB1117,24,11 (2) If an employee of the authority declares an intention to run for partisan political office, the employee shall be placed on a leave of absence for the duration of the election campaign and if elected shall no longer be employed by the authority on assuming the duties and responsibilities of such office.

AB1117,24,13 (3) An employee of the authority may be granted, by the executive director, a leave of absence to participate in partisan political campaigning.

AB1117,24,16 (4) Persons on leaves of absence under sub. (2) or (3) are not subject to the restrictions of sub. (1), except as they apply to the solicitation of assistance, subscription, or support from any other employee in the authority.

AB1117,24,20 235.05 Cooperation. To enhance the efficiency and effectiveness of the authority, the authority shall use staff and other resources of state agencies, including the University of Wisconsin System, and state agencies shall, to the extent possible given their staff and other resources, provide assistance to the authority.

AB1117,24,23 235.06 Issuance of bonds. (1) The authority may issue bonds for any corporate purpose. All bonds are negotiable for all purposes, notwithstanding their payment from a limited source.

AB1117,24,25 (2) The bonds of each issue shall be payable from sources specified in the bond resolution under which the bonds are issued.

AB1117,25,12 (3) The authority may not issue bonds unless the issuance is first authorized by a bond resolution. Bonds shall bear the dates, mature at the times not exceeding 30 years from their dates of issue, bear interest at the rates, be payable at the times, be in the denominations, be in the form, carry the registration and conversion privileges, be executed in the manner, be payable in lawful money of the United States at the places, and be subject to the terms of redemption, that the bond resolution provides. The bonds shall be executed by the manual or facsimile signatures of the officers of the authority designated by the board. The bonds may be sold at public or private sale at the price, in the manner, and at the time determined by the board. Pending preparation of definitive bonds, the authority may issue interim receipts or certificates that the authority shall exchange for the definitive bonds.

AB1117,25,15 (4) Any bond resolution may contain provisions that shall be a part of the contract with the holders of the bonds that are authorized by the bond resolution, regarding any of the following:

AB1117,25,16 (a) Pledging or assigning specified assets or revenues of the authority.

AB1117,25,18 (b) Setting aside reserves or sinking funds, and the regulation, investment, and disposition of these funds.

AB1117,25,20 (c) Limitations on the purpose to which or the investments in which the proceeds of the sale of any issue of bonds may be applied.

AB1117,25,24 (d) Limitations on the issuance of additional bonds, the terms upon which additional bonds may be issued and secured, and the terms upon which additional bonds may rank on a parity with, or be subordinate or superior to, the bonds authorized by the bond resolution.

AB1117,25,25 (e) Funding, refunding, advance refunding, or purchasing outstanding bonds.

AB1117,26,3 (f) Procedures by which the terms of any contract with bondholders may be amended, the amount of bonds the holders of which must consent to the amendment, and the manner in which this consent may be given.

AB1117,26,6 (g) Defining the acts or omissions to act that constitute a default in the duties of the authority to the bondholders, and providing the rights and remedies of the bondholders in the event of a default.

AB1117,26,7 (h) Other matters relating to the bonds that the board considers desirable.

AB1117,26,11 (5) Neither the members of the board nor any person executing the bonds is liable personally on the bonds or subject to any personal liability or accountability by reason of the issuance of the bonds, unless the personal liability or accountability is the result of willful misconduct.

AB1117,26,20 235.07 Bond security. The authority may secure any bonds issued under this chapter by a trust agreement, trust indenture, indenture of mortgage, or deed of trust by and between the authority and one or more corporate trustees. The bond resolution providing for the issuance of bonds so secured shall pledge some or all of the revenues to be received by the authority and may contain provisions for protecting and enforcing the rights and remedies of the bondholders that are reasonable and proper and not in violation of law. A bond resolution may contain any other provisions that are determined by the board to be reasonable and proper for the security of the bondholders.