The Wisconsin Board of Commissioners of Public Lands (BCLP) is the state entity that invests the principal (base money) of the Common School Fund. Managed by the BCPL, the Common School Fund was established by the Wisconsin Constitution in 1848, with earnings used exclusively to support and maintain common schools (now K-12 public) and the support of libraries. The BCPL also loans money for public works projects from principal funds and reinvests the interest earned. Most citizens do not know how the benefits of these loans touch their lives every day.
The board invests the principal from the Common School Fund as loans for public purpose projects including economic development, local infrastructure improvements the purchase of capital equipment and vehicles, and school repairs and improvements. When a community needs to purchase a new snow plow, repair an aging road, purchase property for an industrial park or support many other "public good" projects, they can borrow money from the Common School fund through the BDPL. Since July 1, 2008, BCPL loans approved in the 27th Senate District now total $42,433,110 - with recent approval of $300,000 for the Village of West Baraboo for financing of Oakbridge Phase 1 TID project.
BCPL interest earnings are returned to Wisconsin communities in the form of aid to public school libraries. In the 27th Senate District, $14,416,178 has been distributed to our school libraries in the past five years. More than 96 percent of the interest paid on BCPL loans is returned to Wisconsin communities to benefit public school libraries.
The Common School Fund is built by forfeitures from civil and criminal penalties and from the interest the fund earns from the loan given. The fund was originally established with the granting of 1.5 million acres from the federal government in 1848 that was sold to start the fund. The BCPL State Trust Fund Loans benefit not only local projects that need simple loans with competitive interest rates but also support for local public libraries from the interest earned from those loans - supporting communities not once, but twice.
Steeped in a tradition of support for our communities, the Board of Commissioners of Public Lands quietly does good every day for the people of this state. I hope that the information from this column will help people understand the good that government does every day and will broaden everyone's understanding of the tradition of community support that has been a part of Wisconsin since our inception as a state. For more information on the BCPL or any other state operation please contact my office at 608-266-6670 or 888-549-0027 or sen.erpenbach@legis.wi.gov.
The board invests the principal from the Common School Fund as loans for public purpose projects including economic development, local infrastructure improvements the purchase of capital equipment and vehicles, and school repairs and improvements. When a community needs to purchase a new snow plow, repair an aging road, purchase property for an industrial park or support many other "public good" projects, they can borrow money from the Common School fund through the BDPL. Since July 1, 2008, BCPL loans approved in the 27th Senate District now total $42,433,110 - with recent approval of $300,000 for the Village of West Baraboo for financing of Oakbridge Phase 1 TID project.
BCPL interest earnings are returned to Wisconsin communities in the form of aid to public school libraries. In the 27th Senate District, $14,416,178 has been distributed to our school libraries in the past five years. More than 96 percent of the interest paid on BCPL loans is returned to Wisconsin communities to benefit public school libraries.
The Common School Fund is built by forfeitures from civil and criminal penalties and from the interest the fund earns from the loan given. The fund was originally established with the granting of 1.5 million acres from the federal government in 1848 that was sold to start the fund. The BCPL State Trust Fund Loans benefit not only local projects that need simple loans with competitive interest rates but also support for local public libraries from the interest earned from those loans - supporting communities not once, but twice.
Steeped in a tradition of support for our communities, the Board of Commissioners of Public Lands quietly does good every day for the people of this state. I hope that the information from this column will help people understand the good that government does every day and will broaden everyone's understanding of the tradition of community support that has been a part of Wisconsin since our inception as a state. For more information on the BCPL or any other state operation please contact my office at 608-266-6670 or 888-549-0027 or sen.erpenbach@legis.wi.gov.
