Section 35.04. Credit and security.

Latest version.

(1) The municipality's obligation to repay a project loan may be in the form of a general obligation or a revenue obligation.

(2) The department may require the project loan to the municipality to be in any form which the department in its discretion determines will not, during the term of the project loan, substantially and adversely affect the municipality's ability to borrow for general operations and capital costs other than the project.

(3) In administration of its powers and duties under s. 281.59 (11) (b) , Stats., the department shall deduct, as a first charge against state payments due the municipality, any amounts due to the clean water fund.

History: Cr. Register, September, 1991, No. 429 , eff. 10-1-91.

                    
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