Wisconsin § 119.485 Taxes for state trust fund loans.

Wisconsin Statutes

§ 119.485 — Taxes for state trust fund loans.

Wisconsin § 119.485

Ch. 119First class city school system

Subch.subch. I of ch. 119 SUBCHAPTER I

FIRST CLASS CITY SCHOOL DISTRICT

This text of Wisconsin § 119.485 (Taxes for state trust fund loans.) is published on Counsel Stack Legal Research, covering Wisconsin primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wis. Stat. § 119.485 (2026).

Text

485
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.
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 su

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119.485
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.