Wisconsin Statutes Municipalities (Ch. 59 to 68) § 67.04. Purposes of issuing municipal bonds and notes

(a) “Ancillary charges” include site preparation expenditures, professional fees, legal claims directly attributable to asset acquisition and interest costs incurred prior to and during construction.

(ag) “Operating expenses” include wages, salaries, fringe benefits, materials, supplies, contractual services, equipment with a useful life of less than one year and other costs specified by the department of revenue by rule. “Operating expenses” do not include ancillary charges incurred in the acquisition, development or construction of real property or property with a useful life of one year or more.

(ar) “Project” means the acquisition, leasing, planning, design, construction, development, extension, enlargement, renovation, rebuilding, repair or improvement of land, waters, property, highways, buildings, equipment or facilities.

(b) “Public purpose” means the performance of any power or duty of the issuing municipality.

(2)(a) Subject to the limitations specified in ss. 67.03 and 67.045, any municipality may borrow money and issue bonds to finance any project undertaken for a public purpose.

(b) Subject to the limitations specified in s. 67.03, any city with a population greater than 75,000 may borrow money and issue bonds to finance the cost of low-interest mortgage loans under s. 62.237.

(5)(a) Except as provided in par. (b), the proceeds of any municipal bonds or notes issued by a county under this chapter shall not be used to fund the operating expenses of the general fund of the county or to fund the operating expenses of any special revenue fund of the county that is supported by property taxes.

(b) Paragraph (a) does not apply to notes issued under s. 67.12(1) to (8m) or to municipal bonds or notes issued by a county for any of the following purposes: