Wisconsin Statutes Organization of State Government (Ch. 13 to 22) § 16.297. Grants for local government expenditures; moral obligation pledge

(a) “Local governmental unit” means a city, village, town, county, or technical college district that contains any part of an electronics and information technology manufacturing zone designated under s. 238.396(1m).

(b) “Municipal obligation” has the meaning given in s. 67.01(6).

(3) Moral obligation pledge.(a) Recognizing its moral obligation to do so, the legislature expresses its expectation and aspiration that, if ever called upon to do so, it shall make an appropriation to pay the principal and interest of a local governmental unit's municipal obligations, if all of the following apply:

(b) No more than 40 percent of a local governmental unit's aggregate municipal obligations under par. (a) shall be subject to the moral obligation pledge under that paragraph.

(c) The proceeds of municipal obligations issued by a local governmental unit under this subsection shall be used to finance costs related to development occurring in or for the benefit of an electronics and information technology manufacturing zone designated under s. 238.396(1m). The legislature determines that the provision of assistance by state agencies to a local governmental unit under this section, any appropriation of funds to a local governmental unit under this section, and the moral obligation pledge under par. (a) serve a substantial statewide public purpose by assisting the development of an electronics and information technology manufacturing zone in the state, by encouraging economic development, by reducing unemployment, and by bringing needed capital into the state for the benefit and welfare of people throughout the state.