279.07 Assessments.
213 words·~1 min read·
/wi/chapter-279/279-07A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
279.07 Assessments.
(1)Before it issues bonds, the authority shall follow the procedures in this section for levying an assessment on the affected property of any consenting landowner whose application for issuance of the bonds is approved under s. 279.06
(1). The consenting landowner shall pay the assessment to the authority. An assessment under this section is a lien against the affected property. The authority shall provide notice of the lien of assessment to the register of deeds of the county in which the affected property is located for recording.
(2)The assessment levied with respect to a bond issue shall be sufficient to do all of the following:
(a)Pay the share of the administrative costs of the authority that is allocated to the bond issue.
(b)Pay the costs of any financial and legal services incurred by the authority and any other item of direct or indirect cost that may reasonably be attributed to processing the application under s. 279.05
(1), issuing the bonds, and imposing the assessment on the affected property.
(c)Pay the principal of and the premium, if any, and interest on the bonds as they become due and payable.
(d)Create and maintain any reserve that is required or provided for in the bond resolution.