WISCONSIN BLUE BOOK 1989-1990


legislature may provide that the value thereof shall be determined on an
average basis. Taxes
may also be imposed on incomes, privileges and occupations, which taxes may
be graduated and
progressive, and reasonable exemptions may be provided. [1971 AJR-2; 1973
AJR-I]
    Appropriations; limitation. SECTION 2. [As amended November 1877] No
money shall be paid out
of the treasury except in pursuance of an appropriation by law. No appropriation
shall be made
for the payment of any claim against the state except claims of the United
States and judgments,
unless filed within six years after the claim accrued. [1876 SJR-14; 1877
SJR-5; 1877 c. 1581
    Credit of state. SECTION 3. [As amended April 1975] Except as provided
in s. 7 (2) (a), the credit of
the state shall never be given, or loaned, in aid of any individual, association
or corporation. [1973
AJR-145; 1975 AJR-11
    Contracting state debts. SECTION 4. The state shall never contract any
public debt except in
the cases and manner herein provided.
    Annual tax levy to equal expenses. SECTION 5. The legislature shall provide
for an annual tax
sufficient to defray the estimated expenses of the state for each year; and
whenever the expenses
of any year shall exceed the income, the legislature shall provide for levying
a tax for the ensuing
year, sufficient, with other sources of income, to pay the deficiency as
well as the estimated ex-
penses of such ensuing year.
    Public debt for extraordinary expense; taxation. SECTION 6. For the purpose
of defraying
extraordinary expenditures the state may contract public debts (but such
debts shall never in the
aggregate exceed one hundred thousand dollars). Every such debt shall be
authorized by law, for
some purpose or purposes to be distinctly specified therein; and the vote
of a majority of all the
members elected to each house, to be taken by yeas and nays, shall be necessary
to the passage of
such law; and every such law shall provide for levying an annual tax sufficient
to pay the annual
interest of such debt and the principal within five years from the passage
of such law, and shall
specially appropriate the proceeds of such taxes to the payment of such principal
and interest;
and such appropriation shall not be repealed, nor the taxes be postponed
or diminished, until the
principal and interest of such debt shall have been wholly paid.
    Public debt for public defense; bonding for public purposes. SECTION
7. [As amended April 1975]
(1) The legislature may also borrow money to repel invasion, suppress insurrection,
or defend
the state in time of war; but the money thus raised shall be applied exclusively
to the object for
which the loan was authorized, or to the repayment of the debt thereby created.
    (2) Any other provision of this constitution to the contrary notwithstanding:
    (a) The state may contract public debt and pledges to the payment thereof
its full faith, credit
and taxing power:
    1. To acquire, construct, develop, extend, enlarge or improve land, waters,
property, high-
ways, buildings, equipment or facilities for public purposes.
   2. To make funds available for veterans' housing loans.
   (b) The aggregate public debt contracted by the state in any calendar
year pursuant to para-
graph (a) shall not exceed an amount equal to the lesser of:
    1. Three-fourths of one per centum of the aggregate value of all taxable
property in the
state; or
    2. Five per centum of the aggregate value of all taxable property in
the state less the sum of:
a. the aggregate public debt of the state contracted pursuant to this section
outstanding as of
January 1 of such calendar year after subtracting therefrom the amount of
sinking funds on hand
on January 1 of such calendar year which are applicable exclusively to repayment
of such out-
standing public debt and, b. the outstanding indebtedness as of January 1
of such calendar year
of any entity of the type described in paragraph (d) to the extent that such
indebtedness is sup-
ported by or payable from payments out of the treasury of the state.
    (c) The state may contract public debt, without limit, to fund or refund
the whole or any part
of any public debt contracted pursuant to paragraph (a), including any premium
payable with
respect thereto and any interest to accrue thereon, or to fund or refund
the whole or any part of
any indebtedness incurred prior to January 1, 1972, by any entity of the
type described in para-
graph (d), including any premium payable with respect thereto and any interest
to accrue
thereon.


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