Wisconsin Statutes 18.822 – Debt requirements
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The authorizing resolution for an obligation under this subchapter shall require that all of the following conditions be met:
Terms Used In Wisconsin Statutes 18.822
- 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.
(1) The terms of the obligation are structured to encourage ownership by as many individuals as possible.
(2) The evidences of the obligation are issued in denominations of not more than $1,000.