199.16 Expenses.
115 words·~1 min read·
/wi/chapter-199/199-16A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
199.16 Expenses. All expenses of the corporation incurred in carrying out this chapter shall be payable solely from the funding as provided under this chapter, and no liability may be incurred by the corporation beyond the extent to which moneys have been provided under this chapter except that, for the purposes of meeting the necessary expenses of initial organization and operation of the corporation for the period commencing on November 29, 1979 and continuing until the first election of the board of directors under s. 199.12 , the corporation may borrow such moneys as it requires.
Such moneys borrowed by the corporation shall subsequently be repaid with appropriate interest over a reasonable period of time.