Wisconsin § 119.499 Borrowing; unfunded prior service liability.

Wisconsin Statutes

§ 119.499 — Borrowing; unfunded prior service liability.

Wisconsin § 119.499

Ch. 119First class city school system

Subch.subch. I of ch. 119 SUBCHAPTER I

FIRST CLASS CITY SCHOOL DISTRICT

This text of Wisconsin § 119.499 (Borrowing; unfunded prior service liability.) 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. § 119.499 (2026).

Text

499
499(1) (1) The board may not request the redevelopment authority of the city to issue bonds under s. 66.1333 (5s) or adopt a resolution under s. 119.498 (1) unless it develops information on both options and chooses the option that is in the best public interest.
499(1m) (1m) If the redevelopment authority of the city issues bonds under s. 66.1333 (5s) , the board may borrow money from the redevelopment authority to pay unfunded prior service liability contributions under the Wisconsin Retirement System for the board. If the board borrows money from the redevelopment authority of the city to make such payments, it may use any school district revenues, including state aid, to repay the loan.
499(2) (2)
499(2)(a) (a) If the board decides to use school district revenue

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119.499
119.499(1) (1) The board may not request the redevelopment authority of the city to issue bonds under s. 66.1333 (5s) or adopt a resolution under s. 119.498 (1) unless it develops information on both options and chooses the option that is in the best public interest.
119.499(1m) (1m) If the redevelopment authority of the city issues bonds under s. 66.1333 (5s) , the board may borrow money from the redevelopment authority to pay unfunded prior service liability contributions under the Wisconsin Retirement System for the board. If the board borrows money from the redevelopment authority of the city to make such payments, it may use any school district revenues, including state aid, to repay the loan.
119.499(2) (2)
119.499(2)(a) (a) If the board decides to use school district revenues to repay the loan, it may request the city to remit designated revenues of the school district to the redevelopment authority of the city at such times and in such amounts as the board determines. The city may agree to the request, which is irrevocable while any amount due under the loan remains outstanding.
119.499(2)(b) (b) If the board decides to use state aid to repay the loan, it may request the department to remit the aid to the redevelopment authority of the city in an annual amount agreed to by the board and the department, and the department shall ensure that the aid remittance does not affect the amount determined to be received by the board as state aid under s. 121.08 for any other purpose.