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Code · Wisconsin · Chapter 67 — Municipal borrowing and municipal bonds

67.05 Bond issues; procedure.

817 words·~4 min read·/wi/chapter-67/67-05

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67.05 Bond issues; procedure.
(1)Initial resolution by governing body. If any municipality seeks to issue a bond under s. 67.04 , the governing body of the municipality shall, prior to the issuance of the bond, adopt a resolution that states the purpose for and maximum amount of the borrowing. The resolution adopted under this section shall be known as the initial resolution. If a permissive referendum on the bond issue is allowed under this section, the governing body shall, within 15 days after the initial resolution is adopted, publish a class 1 notice under ch. 985 stating the purpose and maximum principal amount of the bond issue and describing the opportunity and procedure for submitting a petition requesting a referendum on the bond issue.
(2)Initial resolution by electors.
(a)The electors of any town, common school district, union high school district, whether such district is joint or otherwise, or of any municipality other than a county, a city, a village, a technical college district or a board of park commissioners, may at any annual meeting, or at a special meeting of such electors called for the purpose, adopt the initial resolution prescribed by sub.
(1)without any prior adoption thereof by the governing body of such municipality. The vote in such case shall be made by ballot in substantially the following form:
For bonds ⬜ Against bonds ⬜
(b)The electors of a city may adopt the initial resolution prescribed by sub.
(1)in the manner provided by s. 9.20 .
(3)Referendum procedure. Whenever a referendum is held under this section, the following procedures shall be used:
1. The clerk of the jurisdiction in which the referendum is held shall publish a type A notice under s. 10.01
(a)on the 4th Tuesday before the referendum is held.
2. If the referendum is not held in conjunction with a national, state, county or municipal election, the clerk of the jurisdiction in which the referendum is held shall publish a type E notice under s. 10.01
(e)on the 4th Tuesday before the referendum is held. If the referendum is a county or municipal referendum and is not held in conjunction with a national, state, county or municipal election, the municipal clerk of each municipality in which the referendum is held shall publish a type E notice on the 4th Tuesday before the referendum is held.
3. The clerk of the jurisdiction in which the referendum is held shall publish type B and C notices under s. 10.01
(b)and
(c)on the day before the referendum is held.
4. If the referendum is not held in conjunction with a national, state, county or municipal election, the clerk of the jurisdiction in which the referendum is held shall publish a type D notice under s. 10.01
(d)on the day before the referendum is held. If the referendum is a county or municipal referendum and is not held in conjunction with a national, state, county or municipal election, the municipal clerk of each municipality in which the referendum is held shall publish a type D notice on the day before the referendum is held.
5. The date for publication of any notice may be changed as provided in s. 10.04
(a).
6. In villages, towns and school districts, posting may be substituted for publication as provided in s. 10.05 .
7. Whenever the clerks of more than one jurisdiction are required under this section to publish the same notice on the same day, they may publish one notice only and share the cost under s. 10.07
(1).
(am)The question on which the referendum is held shall be filed as provided in s. 8.37 .
(b)The clerk of the jurisdiction in which the referendum is held shall prepare or arrange for the preparation of the ballots. If the jurisdiction in which the referendum is held is not a city, village, or town, and the clerk of the jurisdiction in which the referendum is held prepares the ballots, the clerk shall deliver the ballots to the municipal clerk of each city, village, or town which is wholly or partly contained within the jurisdiction in which the referendum is held. The form of the ballot shall correspond with the form prescribed by the elections commission under ss. 5.64
(2)and 7.08
(a).
(c)Absentee ballots shall be distributed by the municipal clerk or board of election commissioners of each municipality which is contained within the jurisdiction in which the referendum is held.
(d)The question shall contain a statement of the purpose for which bonds are to be issued and the maximum amount of the bonds to be issued.
(e)Election officials appointed under s. 7.30
(4)shall conduct the election in each municipality which is contained within the jurisdiction in which the referendum is held.
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