City of Madison, Wisconsin | Legislative Information Center
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File #: 50930    Version: 1 Name: Supporting the Office of State Treasurer
Type: Resolution Status: Passed
File created: 3/14/2018 In control: COMMON COUNCIL
On agenda: 3/20/2018 Final action: 3/20/2018
Enactment date: 3/23/2018 Enactment #: RES-18-00204
Title: Supporting the Office of State Treasurer.
Sponsors: Mark Clear, Steve King, Marsha A. Rummel, Shiva Bidar, Maurice S. Cheeks, Samba Baldeh, Sara Eskrich, Barbara Harrington-McKinney, Rebecca Kemble, David Ahrens, Denise DeMarb, Arvina Martin, Ledell Zellers, Matthew J. Phair, Amanda Hall, Sheri Carter, Michael E. Verveer, Zach Wood, Larry Palm
Date Ver.Action ByActionResultAction DetailsMeeting DetailsWatch
3/20/20181 COMMON COUNCIL Adopt Under Suspension of Rules 2.04, 2.05, 2.24, and 2.25Pass Action details Meeting details Not available
3/14/20181 Council Office RECOMMEND TO COUNCIL TO ADOPT UNDER SUSPENSION OF RULES 2.04, 2.05, 2.24, & 2.25 - MISC. ITEMS  Action details Meeting details Not available
Fiscal Note
No appropriation required.
Title
Supporting the Office of State Treasurer.
Body
WHEREAS, Madison's April 3rd Spring Election will include a ballot measure asking voters if they want to remove the Office of the State Treasurer from the Constitution; and,

WHEREAS, the State Treasurer has been part of the state constitution since its inception in 1848, and this vote would permanently remove the office; and,

WHEREAS, the State Treasurer acts as the watchdog of the people’s money and is elected by the people. This check and balance provides effective oversight and increased transparency for all Wisconsinites; and,

WHEREAS, the State Treasurer is member of the Board of Commissioners of Public Lands (BPCL) and manages about 80,000 acres of School Trust Lands. In this role, public access to land increased by 28 percent in the last ten years, and through effective conservation of unique natural areas the BCPL continued to sustainably manage these lands for timber production; and,

WHEREAS, the State Treasurer aids in the oversight of the State Trust Fund Loan program that has invested over a billion dollars in municipalities over the past ten years that have helped with the following areas:

· $220,920,000 in Economic Development
· $624,560,000 in Infrastructure, Capital Equipment, and Operations
· $102,800,000 in Refinance Pension Liabilities
· $310,320,000 in Refinance Debt; and,

WHEREAS, the State Treasurer helps oversee the Common School Fund, the University Fund, the Normal School Fund, and the Agriculture College Fund which provides millions of dollars of critical resources to Wisconsin public schools; and,

WHEREAS, the city of Madison believes that maintaining a healthy State Trust Fund Loan Program prioritizes infrastructure and operations needs without burdening taxpayers; and,

WHEREAS, the city of Madison believes that fiscal responsibility is paramount to ensure a thriving community; and,

WHEREAS, the League of Wiscons...

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