Wisconsin § 67.16 - General obligation-local improvement bonds.

§ 67.16. General obligation-local improvement bonds.

67.16(1) (1) In this section: 67.16(1)(a) (a) “Debt service fund” means the fund, however derived, set aside for the payment of principal and interest on bonds issued under this section. 67.16(1)(b) (b) “Governing body” means the body or board vested by statute with the power to levy special assessments for public improvement. 67.16(1)(c) (c) “Local governmental unit” means a county, city, village, town, farm drainage board, sanitary district, utility district, public inland lake protection and rehabilitation district or any other public board, commission or district, except a 1st class city, authorized by law to levy special assessments for public improvements against the property benefited by the special improvements. 67.16(1)(d) (d) “Public improvement” means the result of the performance of work or the furnishing of materials or both, for which special assessments are authorized to be levied against the property benefited by the special assessment. 67.16(2) (2) 67.16(2)(a) (a) For the purpose of anticipating the collection of special assessments payable in installments under s. 66.0715 (3) , the governing body of a local governmental unit, after the installments have been determined, may issue general obligation-local improvement bonds under this section. 67.16(2)(b) (b) The issue of general obligation-local improvement bonds shall be in an amount not exceeding the aggregate unpaid special assessments levied for the public improvement that the issue is to finance. A single issue of the bonds may be used to finance one or more different local improvements for which special assessments are authorized to be made in the same year. Sections