2011 Wisconsin Laws 66.0711 – Discount on cash payments for public improvements
66.0711
66.0711 Discount on cash payments for public improvements.
66.0711(1)
(1) In this section:
66.0711(1)(a)
(a) “Local governmental unit” has the meaning given in § 66.0713 (1)(c).
66.0711(1)(b)
(b) “Public improvement” has the meaning given in § 66.0713 (1)(d).
66.0711(2)
(2) Every bid received for any public improvement which is not to be paid wholly in cash shall contain a provision that all payments made in cash by the local governmental unit as provided by contract or made on special assessments are subject to a specified rate of discount. The treasurer of the local governmental unit shall issue a receipt for every payment made on any special assessment, stating the date and amount of the cash payment, the discount and the total credit including the discount on a specified special assessment. The treasurer shall on the same day deliver a duplicate of the receipt to the clerk, who shall credit the specified assessments accordingly. All moneys so received shall be paid to the contractor as provided by the contract.