2009 WISCONSIN ACT
47
An Act
to amend
67.101 (7), 67.101 (11) (a) 1. and 67.101 (13) (intro.) of the statutes;
relating to:
technical changes that affect the public debt amortization fund of a first class city.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
Section
1
.
67.101 (7) of the statutes is amended to read:
67.101
(7)
The secretary of the commission shall keep a record of all proceedings relating to the amortization fund, and an accurate account of transactions, investments, earnings and expenditures and shall make a report annually on or about
January 15
September 30
of each year to the common council, and shall permit examination of the accounts and records by any person.
Section
2
.
67.101 (11) (a) 1. of the statutes is amended to read:
67.101
(11)
(a) 1. City bonds
, notes, and other securities
.
Section
3
.
67.101 (13) (intro.) of the statutes is amended to read:
67.101
(13)
(intro.) If the total of principal and accrued interest in the amortization fund is substantially equal to the outstanding general obligation bonds or notes of the city, the fund shall be applied to pay the interest on any outstanding general obligation bonds or notes of the city, and to meet the annual payments on the principal of the debt until maturity thereof. The commission may at any time apply the fund to
pay interest on and principal of, or to
acquire for cancellation
,
general obligation bonds or notes
prior to their maturity dates
of the city
except that:
