Wisconsin § 119.485 - Taxes for state trust fund loans.
Full text of Wisconsin Wisconsin Statutes § 119.485 — Taxes for state trust fund loans., with citation guidance and answers to common questions.
§ 119.485. Taxes for state trust fund loans.
119.485(1) (1) If the board is awarded a state trust fund loan under subch. II of ch. 24 , the board shall include in its budget transmitted to the common council under s. 119.16 (8) (b) a written notice specifying the amount of money necessary to pay the principal and interest on the loan as they become due. The common council shall levy and collect a tax upon all property subject to taxation in the city, at the same time and in the same manner as other taxes are levied and collected, equal to the amount of money required to make such payments. The taxes are in addition to all other taxes that the city is authorized to levy. 119.485(2) (2) Annually by December 31, the board shall transfer to the city an amount which, when added to the interest that will accrue on the amount, is sufficient to meet the anticipated costs of debt service on the loan in the ensuing year. 119.485 History History: 1997 a. 27 .
Source: official Wisconsin text · Last verified 2026-08-27
Frequently Asked Questions About Wisconsin § 119.485
What does Wisconsin Statutes § 119.485 cover?
Section 119.485 ("Taxes for state trust fund loans.") is part of the Wisconsin Statutes, the codified statutory law of Wisconsin. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Wisconsin § 119.485?
A common citation format is "Wisconsin Statutes § 119.485" (Wisconsin). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Wisconsin law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Wisconsin official source linked on this page or consult a licensed Wisconsin attorney.
How does Wisconsin § 119.485 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Wisconsin can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Wisconsin.