Board of Commissioners of Public Lands: Board approves State Trust Fund Loans totaling $12.5 million

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

MADISON – The Board of Commissioners of Public Lands today approved six State Trust Fund Loans totaling slightly more than $12.5 million to benefit two school districts and four municipalities across Wisconsin to fund their public purpose projects. Loans approved include:

* Town of Calumet – Fond du Lac County / Finance road resurfacing and refinance existing debt / $400,000

* Town of Clover – Bayfield County / Purchase ambulance / $151,000

* Kenosha Unified School District #1 – Kenosha County / Refinance note anticipation notes / $9,500,000

* Town of Randall – Kenosha County / Finance road construction / $2,000,000

* Town of River Falls – Pierce County / Finance road maintenance and construction / $100,000

* Westby Area School District – LaCrosse, Monroe & Vernon Counties / Finance softball field renovation / $438,000

In the last 12 months, including actions approved today, the Board of Commissioners of Public Lands has approved 196 State Trust Fund Loan applications totaling $167.7 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 total of $33.6 million will be distributed to public school libraries in 2011.

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

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

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