LRB-2005/1
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2023 - 2024 LEGISLATURE
2023 ASSEMBLY BILL 82
February 28, 2023 - Introduced by Representatives GUSTAFSON, MACCO, ALLEN,
BEHNKE, BINSFELD, BODDEN, BROOKS, DITTRICH, GOEBEN, MAXEY, MURPHY,
O'CONNOR, RETTINGER, SCHMIDT, SORTWELL, SPIROS, STEFFEN and ZIMMERMAN,
cosponsored by Senators CABRAL-GUEVARA, JACQUE, COWLES, NASS and
STROEBEL. Referred to Committee on Local Government.
***AUTHORS SUBJECT TO CHANGE***
AN 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.
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:
SECTION 1. 67.05 (3) (d) of the statutes is amended to read:
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SECTION 1 ASSEMBLY BILL 82
67.05 (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.
(END)
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