234.16 General reserve fund.
101 words·~1 min read·
/wi/chapter-234/234-16A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
234.16 General reserve fund. The authority shall establish a special fund, referred to in this chapter as general reserve fund, and shall pay into such fund all fees and charges collected by the authority and any moneys which the authority transfers from the capital reserve fund. Such moneys and any other moneys paid into the general reserve fund, in the discretion of the authority but subject to agreements with bondholders and noteholders, may be used by the authority:
(1)For the repayment of advances from the state in accordance with the repayment agreements between the authority and the secretary of administration;