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Administration outlines option to prepay debt to free up operating capacity ahead of referendum planning
Summary
Officials said money available from higher revenue‑limit aid could be used to defease a portion of WRS-related Fund 38 debt, reducing future revenue‑limit pressure and freeing roughly $3.3 million over a three‑year period to apply to Fund 10 operations; the committee was briefed on timing and implications for future referendum decisions.
Administration briefed the committee on Fund 38 debt components and described a possible defeasement strategy to reduce revenue‑limit debt pressure and create operational capacity in future years.
Staff explained Fund 38 contains two components: an Act 32 energy exemption issuance and an earlier Wisconsin Retirement System (WRS) issuance. The administration said the WRS component is part of the district’s revenue limit and competes with…
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