32.69 Alternative financing by general obligation bonds, taxation or anticipation notes.
(1) Funding. The city may finance any improvement under this subchapter by issuing general obligation bonds, levying a tax or by borrowing on anticipation notes. The city may collect assessments on property that finances bonds under s. 32.67 and apply the assessments to pay the principal and interest of general obligation bonds, or to reduce general taxes if the city levies a tax to finance an improvement. If the city issues no bonds under s. 32.67, the city shall apply all assessments collected to pay the principal and interest of general obligation bonds or to reduce taxes if the city levies a tax to finance an improvement.
(2) General obligation bonding. The common council may adopt an initial resolution to issue general obligation bonds to pay the cost of laying out or improving any alley or street, as defined in s. 340.01 (2) and (64), without submitting the initial resolution to the electors of the city unless a number of electors equal to or greater than 10 percent of the votes cast for governor in the city at the last general election file a petition conforming to the requirements of s. 8.40 with the city clerk requesting submission. The city shall conduct any referendum for approval of the initial resolution as provided in s. 67.05 (5).
(3) Anticipation notes. The common council may authorize borrowing on notes signed by the mayor and city comptroller in anticipation of the incoming assessments to pay the cost of any improvement authorized under this subchapter. The city shall pay the notes out of the assessments received in the year of issuance. The city shall pay the notes not later than April 1 following the date of issuance. The city may pay any deficit due to delinquencies in the collection of assessments out of the tax delinquent fund under s. 32.68.
History: 1983 a. 236; 1989 a. 192.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
32.02 - Who may condemn; purposes.
32.03 - When condemnation not to be exercised.
32.035 - Agricultural impact statement.
32.04 - Procedure in condemnation.
32.05 - Condemnation for sewers and transportation facilities.
32.06 - Condemnation procedure in other than transportation matters.
32.07 - Necessity, determination of.
32.075 - Use after condemnation.
32.08 - Commissioner of condemnation.
32.09 - Rules governing determination of just compensation.
32.10 - Condemnation proceedings instituted by property owner.
32.12 - Proceedings to perfect title.
32.13 - Proceedings when land mortgaged.
32.15 - How title in trustee acquired.
32.16 - Abandonment of easements for public use.
32.19 - Additional items payable.
32.195 - Expenses incidental to transfer of property.
32.196 - Relocation payments not taxable.
32.197 - Waiver of relocation assistance.
32.20 - Procedure for collection of itemized items of compensation.
32.21 - Emergency condemnation.
32.22 - Special procedure for immediate condemnation.
32.25 - Relocation payment plan and assistance services.
32.26 - Authority of the department of administration.
32.27 - Records to be kept by condemnor.
32.29 - False statements prohibited.
32.51 - Exercise of eminent domain.
32.53 - Resolution of necessity.
32.54 - Report and tentative plan of improvement.
32.55 - Hearing on the report and tentative plan of improvement.
32.56 - Altering the plan of improvement.
32.57 - Determining benefits and damages.
32.58 - Benefit assessment payments.
32.61 - Appeal to circuit court.
32.63 - Completing certain improvements.
32.67 - Special improvement bonds.
32.69 - Alternative financing by general obligation bonds, taxation or anticipation notes.