$1.5 Million for Beloit from the Board of Commissioners of Public Lands
I will present a check to the City of Beloit for $1.5 million that will be used by the City for capital improvements and equipment. The money comes from the Board of Commissioners of Public Lands State Trust Fund Loan Program.
I, along with Secretary of State Doug LaFollette and Attorney General J.B. Van Hollen make up the Board of Commissioners of Public Lands.
The BCPL State Trust Fund Loan Program is one of the best programs we have in State Government. By helping local communities with these loans, the state is investing in itself.”
Monday, August 1, 2011
500 Public Avenue
Created in 1848 by Article X, Section 2 of the Wisconsin Constitution, the Board of Commissioners of Public Lands was established to accept federal land grants and to manage trust funds for the benefit of public education inWisconsin. BCPL invests the principal of the Common School Fund in loans to municipalities and school districts through the BCPL State Trust Fund Loan Program. These funds are used for public purpose projects including school repairs and improvements, economic development, capital equipment and vehicles, local infrastructure, and refinancing existing debt to reduce future borrowing costs.
In addition, over 95% of the earnings from the Common School Fund are distributed to K-12 school libraries annually. School districts may use the funds to purchase books, audiovisual materials, computer equipment and software, and newspapers and periodicals for their library. A total of $33.6 million has been distributed to public school libraries in 2011.
- Unclaimed Property and your public school libraries (wistatetreasury.wordpress.com)