59.82

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59.82 Milwaukee County Research and Technology Park.

59.82(1)

(1) Counties with a population of 500,000 or more may participate in the development of a research and technology park under sub. (2) if all of the following apply:

59.82(1)(a)

(a) A nonstock corporation is organized under ch. 181, and that corporation is a nonprofit corporation as defined in § 181.0103 (17), organized for the sole purpose of developing a research and technology park under sub. (2).

59.82(1)(b)

(b) The research and technology park is located on land designated by the board for that purpose and owned by the county.

59.82(1)(c)

(c) The board determines that participation is for a public purpose and that participation will benefit the Milwaukee regional medical center, Milwaukee County and this state.

59.82(2)

(2) A county may participate with the nonstock, nonprofit corporation under sub. (a) in the development of a research and technology park by doing any of the following on terms approved by the board:

59.82(2)(a)

(a) Leasing or otherwise making available to the nonprofit corporation property for a research and technology park.

59.82(2)(b)

(b) Making grants or loans to the nonprofit corporation for the operations of the nonprofit corporation and for the development of a research and technology park.

59.82(2)(c)

(c) Borrowing money to be used for the development of a research and technology park and by issuing notes, bonds or other evidence of indebtedness for this purpose.

59.82(2)(d)

(d) Entering into contracts or exercising any other authority that is necessary for the development of a research and technology park.

59.82(3)

(3) Officers, officials and employees of the county may be members of the board of directors of the nonstock, nonprofit corporation under sub. (a) but may not receive compensation for serving as a member of the board.

59.82(4)

(4) The nonstock, nonprofit corporation under sub. (a) shall give a 45-day written notice to a municipality that is located in the county whenever the nonprofit corporation intends to enter into a transaction that entails moving a research or technology business or facility from the municipality to the research and technology park.