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Communities Award Loans for Municipal Improvements

31 Oct News

Several communities in the area were among those receiving loans from the Board of Commissioners of Public Lands.

The BCPL met earlier this month and approved nearly $3.1 million in State Trust Fund Loans that will be used towards municipal projects. The City of Eagle River was one of the municipalities that received monies.

The city will get $100,000 loan tabbed for a remodel of the Police Department.

State Trust Fund Loan monies come from the principal of the state’s Common School Fund enhanced by revenue generated by fees, fines, forfeitures, unclaimed property and timber sales. 

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.

The bi-partisan board consists of the Secretary of State, Doug La Follette; Attorney General, J.B. Van Hollen; and State Treasurer, Kurt Schuller.