Wisconsin Statutes 18.52 – Definitions
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In this subchapter, unless the context requires otherwise:
Terms Used In Wisconsin Statutes 18.52
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Property: includes real and personal property. See Wisconsin Statutes 990.01
- Public debt: Cumulative amounts borrowed by the Treasury Department or the Federal Financing Bank from the public or from another fund or account. The public debt does not include agency debt (amounts borrowed by other agencies of the Federal Government). The total public debt is subject to a statutory limit.
- Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
- State: when applied to states of the United States, includes the District of Columbia, the commonwealth of Puerto Rico and the several territories organized by Congress. See Wisconsin Statutes 990.01
(1c) “Aggregate expected debt service and net exchange payments” means the sum of the following:
(a) The aggregate net payments expected to be made and received under a specified interest exchange agreement under s. 18.55 (6) (a).
(b) The aggregate debt service expected to be made on obligations related to that agreement.
(c) The aggregate net payments expected to be made and received under all other interest exchange agreements under s. 18.55 (6) (a) relating to those obligations that are in force at the time of executing the agreement.
(1e) “Ancillary payments” means payments for issuance costs and expenses, payments under contracts entered into under s. 18.55 (6), payments of accrued or funded interest, and payments of other costs and expenses of administering revenue obligations.
(1m) “Authorizing resolution” means any resolution adopted by the commission under this subchapter which authorizes the contracting of a revenue obligation.
(2) “Commission” means the building commission.
(2m) “Enterprise obligation” means every undertaking by the state to repay a certain amount of borrowed money that is all of the following:
(a) Created for the purpose of purchasing, acquiring, leasing, constructing, extending, expanding, adding to, improving, conducting, controlling, operating or managing a revenue-producing enterprise or program.
(b) Payable from and secured by the property or income or both of the enterprise or program.
(c) Not public debt under s. 18.01 (4).
(3) “Evidence of revenue obligation” means a written promise to pay a revenue obligation.
(4) “Public debt” means every voluntary, unconditional undertaking by the state to repay a certain amount of borrowed money:
(a) Out of the state treasury, except a loan or advance by any state agency or fund to any other state agency or fund; or
(b) For which any existing asset of the state is pledged, except the pledge of an outstanding evidence of indebtedness without recourse.
(5) “Revenue obligation” means an enterprise obligation or a special fund obligation. A revenue obligation may be both an enterprise obligation and a special fund obligation.
(6) “Revenue-producing enterprise” or “program” means every state enterprise or program deemed by the legislature to be likely to produce sufficient net income to pay when due the principal and interest of revenue obligations to be issued in connection therewith.
(7) “Special fund obligation” means every undertaking by the state to repay a certain amount of borrowed money that is all of the following:
(a) Payable from a special fund consisting of fees, penalties or excise taxes.
(b) Not public debt under s. 18.01 (4).
(8) “Special fund program” means a state program or purpose with respect to which the legislature has determined that financing with special fund obligations is appropriate and will serve a public purpose.