67.045 Debt issuance conditions.
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/wi/chapter-67/67-045A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
67.045 Debt issuance conditions.
(1)The governing body of a county may not issue bonds under s. 67.05 or promissory notes under s. 67.12
(12)unless one or more of the following apply:
(a)A referendum is held, following the procedures in s. 67.05
(3), that approves the debt issuance.
(b)The governing body of the county adopts a resolution that sets forth its reasonable expectations that issuance of the debt will not cause the county to increase the debt levy rate, as defined in s. 59.605
(b).
(c)Issuance of the debt was authorized by an initial resolution adopted by the governing body of the county prior to August 12, 1993.
(d)The debt is issued for the purposes under s. 67.05
(c),
(cc),
(f),
(h)or
(i).
(e)The debt is issued to fund or refund outstanding municipal obligations, interest on outstanding municipal obligations, or the payment of related issuance costs or redemption premiums.
(f)The governing body adopts a resolution to issue the debt by a vote of at least three-fourths of the members-elect, as defined in s. 59.001
(2m).
(g)The debt is issued by a county having a population of 750,000 or more to pay unfunded prior service liability with respect to an employee retirement system.