119.485 Taxes for state trust fund loans.
(1) If the board is awarded a state trust fund loan under subch. II of ch. 24, the board shall include in its budget transmitted to the common council under s. 119.16 (8) (b) a written notice specifying the amount of money necessary to pay the principal and interest on the loan as they become due. The common council shall levy and collect a tax upon all property subject to taxation in the city, at the same time and in the same manner as other taxes are levied and collected, equal to the amount of money required to make such payments. The taxes are in addition to all other taxes that the city is authorized to levy.
(2) Annually by December 31, the board shall transfer to the city an amount which, when added to the interest that will accrue on the amount, is sufficient to meet the anticipated costs of debt service on the loan in the ensuing year.
History: 1997 a. 27.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 119 - First class city school system.
119.04 - Public instruction laws applicable.
119.06 - Initial establishment of board.
119.08 - Election of board members.
119.10 - Meetings of the board.
119.12 - Board; general provisions.
119.13 - Board members; refusal of salary.
119.19 - Released time for religious instruction.
119.22 - Sex discrimination in physical education or physical training prohibited.
119.23 - Milwaukee parental choice program.
119.235 - Contracts with private schools and agencies.
119.26 - Partial annexation of school district.
119.32 - Superintendent of schools; business manager.
119.33 - Superintendent of schools opportunity schools and partnership program.
119.36 - Dismissal of superintendent of schools.
119.46 - Taxes for school operations fund.
119.47 - Taxes for school extension fund.
119.48 - Taxes for school construction fund.
119.485 - Taxes for state trust fund loans.
119.495 - Borrowing on promissory notes; 1989 to 1993.
119.496 - Borrowing on promissory notes; 1992 to 1995.
119.498 - Promissory notes; unfunded prior service liability contributions.
119.499 - Borrowing; unfunded prior service liability.
119.50 - Disbursement of moneys.
119.55 - Youth service centers, truancy abatement and burglary suppression.
119.66 - Interest in contracts forbidden.
119.68 - Claims against the city or board.
119.70 - Use of school buildings and grounds for civic purposes.
119.71 - Five-year-old kindergarten programs.
119.73 - Kindergarten programs.
119.75 - First grade programs.
119.78 - Family resource center.
119.82 - Alternative educational programs for learnfare pupils.
119.9001 - Commissioner of opportunity schools and partnership program; general provisions.
119.9002 - Commissioner; duties.
119.9003 - Commissioner; powers.