Board of Commissioners of Public Lands: Approves state trust fund loans totaling $7.4 million

CONTACT: Tia Nelson, Executive Secretary (608) 266-8369

MADISON – The Board of Commissioners of Public Lands today approved ten loans totaling slightly more than $7.4 million to benefit school districts and municipalities across Wisconsin to fund their public purpose projects. Loans approved include:

* Town of Barronett – Washburn County / Purchase Kamotzu loader / $35,000

* Village of Cameron – Barron County / Finance sewer and water projects / $606,980

* Columbus School District – Columbia, Dane and Dodge Counties / Refinance prior service pension liability / $1,485,000

* Village of Ellsworth – Pierce County / Finance economic development projects / $975,000

* Village of Granstburg – Burnett County / Finance road resurfacing / $70,000

* Village of Hazel Green – Grant and Lafayette Counties / Refinance water main loan / $86,000

* Village of Hazel Green – Grant and Lafayette Counties / Refinance bucket truck loan / $60,000

* City of Menasha – Calumet and Winnebago Counties / Refinance utility revenue bond / $3,500,000

* Village of Monticello – Green County / Finance community park and municipal parking lot improvements / $370,000

* City of Wautoma – Waushara County / Finance TID economic development incentive / $250,000

In the last 12 months, including actions approved today, the Board of Commissioners of Public Lands has approved 186 loan applications totaling $156 million. The loans can be made to municipalities and school districts for any public purpose.

Created in 1848 by the Wisconsin Constitution, the Board of Commissioners of Public Lands was established to accept federal land grants and to manage trust funds for the benefit of public education in Wisconsin. The Board consists of Secretary of State Doug La Follette, Attorney General J.B. Van Hollen and State Treasurer Kurt Schuller. The majority of Trust Fund assets are held in the Common School Fund, from which the majority of State Trust Fund loans are issued. Earnings from this fund are distributed to K-12 school libraries annually.

A complete list of Wisconsin municipal and school projects funded by today’s Board action can be found here:

(http://bcpl.wisconsin.gov/docview.asp?docid=21457&locid=145).

A list of loans approved in the last twelve months can be found here:

(http://bcpl.wisconsin.gov/docview.asp?docid=21458&locid=145).

The agency’s current biennial report can be found here:

(http://bcpl.wisconsin.gov/docview.asp?docid=18464&locid=145).