Wisconsin Statutes 232.05 – Powers, duties and restrictions
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Wisconsin Statutes 232.05
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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.
- Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
- seal: includes the word "seal" the letters "L S" and a scroll or other device intended to represent a seal, if any is affixed in the proper place for a seal, as well as an impression of a seal on the instrument. See Wisconsin Statutes 990.01
- 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
(1) Except as provided otherwise in this chapter, the corporation has all the powers necessary and convenient to carry out its duties under sub. (2), including the powers to do all of the following:
(a) To make, amend and repeal bylaws for the conduct of its affairs.
(b) To adopt a seal and alter that seal.
(c) To sue and be sued.
(d) To maintain an office.
(e) To accept a loan, contribution or grant.
(f) To execute contracts and other instruments.
(g) To employ legal, financial, technical or other experts and any other necessary employees and to fix their qualifications, duties and compensation, without regard to ch. 230 except s. 230.40.
(2) The corporation shall:
(a) Receive from the Bradley center corporation a sports and entertainment facility, including any related or auxiliary structure or facility, known as the “Bradley Center”.
(b) Own and operate the Bradley center for the benefit of the citizens of this state.
(c) Adequately provide for the long-term maintenance of the Bradley center.
(d) Seek to enter into contracts for the purchase of goods and services with minority businesses.
(dm) Seek to enter into contracts for the purchase of goods and services with Wisconsin-based businesses.
(e) Annually submit to the governor and to the presiding officer in each house of the legislature an audited financial statement on the operations of the Bradley center, prepared in accordance with generally accepted accounting principles.
(f) Maintain, and make available to the public within a reasonable time after each meeting, the minutes of the meetings of the board of directors. The minutes shall do all of the following:
1. Identify the members in attendance.
2. List the actions taken.
3. Report the number of votes for and against each action.
4. Summarize the discussion relating to the actions taken.
(g)
1. Within a reasonable time after execution, make available to the public copies of all contracts for the purchase of goods or services, or both, if under the contract the payment for the goods or services, or both, exceeds $20,000.
2. Within a reasonable time after execution, make available to the public copies of each contract to use the Bradley center on 10 or more days within a 12-month period.
3. This paragraph does not apply to any contract permitting a concessionaire to operate on the premises of the Bradley center.
(h) Within 60 days following the later of the secretary of administration issuing the certification described in s. 229.42 (4e) (d) or the expiration of 180 days’ written notice delivered by the district to the corporation of the intended construction completion date, complete the sale, exchange, transfer, or divestiture of any part of the Bradley Center that was not previously transferred, as authorized under sub. (3).
(3) The corporation may not:
(a) Sell, exchange, transfer, or otherwise divest itself of the Bradley Center except to a district, as defined in s. 229.41 (4m). The sale, exchange, transfer, or divestiture of the Bradley Center, or any part of the center, to a district, as defined in s. 229.41 (4m), shall satisfy and terminate any obligation of the corporation. Except as provided in s. 229.47 (2) (b), the corporation may not act under this paragraph before the secretary of administration issues the certification described in s. 229.42 (4e) (d).
(b) Dissolve and wind up its affairs except in connection with the sale, exchange, transfer, or divestment of the Bradley Center upon the secretary of administration issuing the certification described in s. 229.42 (4e) (d).
(4) The corporation may charge a reasonable fee for providing copies of minutes and contracts under sub. (2) (f) and (g).