The Board of Commissioners of Public Lands (BCPL) approved a State Trust Fund Loan totaling $4,707,511 to the town of Beloit to construct a public works building. Board Chair Brad Schimel and Commissioner Doug La Follette voted in favor of the loans with Commissioner Matt Adamczyk voting against them.
The Board approved loans totaling $5,255,761 at Tuesday’s meeting. They include:
· Town of Beloit, Rock County / Construct public works building / $4,707,511
· Town of Calamus, Dodge County / Purchase snowplow truck / $118,000
· City of Fox Lake, Dodge County / Refinance bonds dated 9/23/2008 / $316,500
· Village of Rochester, Racine County / Purchase defibrillators / $63,750
· Town of Wyoming, Iowa County / Purchase tractor and accessories / $50,000
The BCPL operates entirely on program revenue, without taxpayer money and distributes more than 96 cents of every dollar of interest earned on BCPL State Trust Fund investments to Wisconsin’s public schools. The 2018 earnings of $35.7 million are the sole source of state funding for K‑12 public school library materials.
A list of 2018 library aid received by each public school district is available at: (http://bcpl.wisconsin.gov/docview.asp?docid=28530&locid=145).
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. The BCPL manages the Common School Fund, which was created in Article X of Wisconsin’s Constitution, as a permanent endowment to benefit public education.
