234.40 Bonds for veterans housing loans and other veterans assistance programs.

205 words·~1 min read·/wi/chapter-234/234-40-9

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)The authority shall issue its negotiable bonds in such principal amount and length of maturity as to provide sufficient funds for veterans housing loans made pursuant to s. 45.37 , 2017 stats.

(2)Bonds issued under the authority of this section are payable out of revenues or moneys received from the repayment of veterans housing loans and related funds made available in ss. 234.42 and 234.43 . All assets and liabilities created through the issuance of bonds to purchase mortgage loans representing veterans housing loans are to be separate from all other assets and liabilities of the authority. No funds of the veterans housing loan program may be commingled with any other funds of the authority.

(3)It is the intent of the legislature that the authority be used to finance the veterans housing program.

(4)The limitations established in ss. 234.18 , 234.50 , 234.60 , 234.61 , and 234.65 are not applicable to bonds issued under the authority of this section. The authority may not have outstanding at any one time bonds for veterans housing loans in an aggregate principal amount exceeding $61,945,000, excluding bonds being issued to refund outstanding bonds.