(1) (a) The authority shall submit to the department of administration a plan that does all the following: 1. Addresses the costs of and funding for the rehabilitation, repair, replacement, operation, and maintenance of the navigational system. 2. Describes how the authority will manage its funds to ensure that sufficient funding is available to abandon the navigational system if the operation of the navigational system is no longer feasible. 3. Describes the escrow account required under s. 237.03 (1) (f). (b) The authority shall submit the plan under par. (a) within 180 days after the date on which the state and the authority enter into the lease agreement specified in s. 237.06. (2) The authority shall update and resubmit the plan under sub. (1) upon the request of the department of administration. (3) (a) For each fiscal year, the authority shall submit to the department of administration an audited financial statement of the funding received by the authority from contributions and other funding accepted by the authority under s. 237.08 (3). (b) The financial statement under par. (a) shall include notes that explain in detail the specific sources of funding contained in the financial statement. (4) For each fiscal year in which moneys are to be released to the authority by the department of natural resources under s. 237.08, each corporation specified in s. 237.09 shall submit to the authority an audited financial statement of the amount raised by the corporation under s. 237.09 (2) (b) for that fiscal year.
‹ Prev All Wisconsin sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.