| 1 | 1 | | LRB-2005/1 |
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| 2 | 2 | | JK:cjs |
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| 3 | 3 | | 2023 - 2024 LEGISLATURE |
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| 4 | 4 | | 2023 ASSEMBLY BILL 82 |
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| 5 | 5 | | February 28, 2023 - Introduced by Representatives GUSTAFSON, MACCO, ALLEN, |
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| 6 | 6 | | BEHNKE, BINSFELD, BODDEN, BROOKS, DITTRICH, GOEBEN, MAXEY, MURPHY, |
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| 7 | 7 | | O'CONNOR, RETTINGER, SCHMIDT, SORTWELL, SPIROS, STEFFEN and ZIMMERMAN, |
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| 8 | 8 | | cosponsored by Senators CABRAL-GUEVARA, JACQUE, COWLES, NASS and |
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| 9 | 9 | | STROEBEL. Referred to Committee on Local Government. |
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| 10 | 10 | | ***AUTHORS SUBJECT TO CHANGE*** |
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| 11 | 11 | | AN ACT to amend 67.05 (3) (d) of the statutes; relating to: including with a |
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| 12 | 12 | | referendum question for issuing bonds a statement of the estimated interest |
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| 13 | 13 | | accruing on the amount of the bonds. |
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| 14 | 14 | | Analysis by the Legislative Reference Bureau |
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| 15 | 15 | | Under current law, whenever a municipality, county, or school district must |
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| 16 | 16 | | hold a referendum seeking voter approval for issuing bonds, the referendum |
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| 17 | 17 | | question must include a statement of the purpose for which bonds are to be issued |
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| 18 | 18 | | and the maximum amount of the bonds to be issued. Under this bill, the statement |
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| 19 | 19 | | included with the referendum question must also provide the estimated amount of |
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| 20 | 20 | | the interest accruing on the amount of the bonds, along with the interest rate. If the |
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| 21 | 21 | | interest rate is a variable rate, the statement must also specify the amount of the |
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| 22 | 22 | | interest accruing on the amount of the bonds calculated using the lowest rate during |
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| 23 | 23 | | the term for which the rate is applicable and the amount of the interest accruing on |
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| 24 | 24 | | the amount of the bonds calculated using the highest rate during the term for which |
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| 25 | 25 | | the rate is applicable. |
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| 26 | 26 | | The people of the state of Wisconsin, represented in senate and assembly, do |
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| 27 | 27 | | enact as follows: |
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| 28 | 28 | | SECTION 1. 67.05 (3) (d) of the statutes is amended to read: |
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| 32 | 32 | | 4 - 2 -2023 - 2024 Legislature LRB-2005/1 |
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| 33 | 33 | | JK:cjs |
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| 34 | 34 | | SECTION 1 ASSEMBLY BILL 82 |
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| 35 | 35 | | 67.05 (3) (d) The question shall contain a statement of the purpose for which |
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| 36 | 36 | | bonds are to be issued and, the maximum amount of the bonds to be issued, and the |
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| 37 | 37 | | estimated amount of the interest accruing on the amount of the bonds, along with |
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| 38 | 38 | | the interest rate. If the interest rate is a variable rate, the statement shall specify |
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| 39 | 39 | | the amount of the interest accruing on the amount of the bonds calculated by using |
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| 40 | 40 | | the lowest rate during the term for which the rate is applicable and the amount of |
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| 41 | 41 | | the interest accruing on the amount of the bonds calculated by using the highest rate |
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| 42 | 42 | | during the term for which the rate is applicable. |
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| 43 | 43 | | (END) |
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