Board approves loan to City of Tomahawk
The Board of Commissioners of Public Lands (BCPL) today approved a State Trust Fund Loan totaling $900,000 to the city of Tomahawk to update a wastewater treatment plant.
The Board approved loans to four projects totaling slightly more than $2.79 million at today’s meeting.
With income generated by State Trust Fund Loans, and not a single taxpayer dollar, the BCPL provides all of the state’s financial aid to public elementary, middle and high school libraries; $30.2 million in 2014, alone.
State Trust Fund Loan monies come from the principal of the state’s Common School Fund, which is enhanced by revenues generated by fees, fines, forfeitures, unclaimed property and timber sales.
Established in 1848 by the State Constitution, the BCPL consists of the Secretary of State Doug La Follette, State Treasurer Matt Adamczyk, and Attorney General Brad Schimel.