Title 21, Title 21 — Education

Recital in resolution that securities are issued pursuant to W.S. 21-17-402 through 21-17-450; effect of recital. A resolution providing for the issuance of bonds or other securities under this act or an indenture or other proceedings appertaining thereto may provide that the sec…

Conditions which may be imposed by board; interest coupons. (a) As the board may determine, bonds and other securities issued under this act except as otherwise provided shall: (i) Be of a convenient denomination or denominations; (ii) Be fully negotiable within the meaning of an…

Board and officers to execute securities; endorsement by university treasurer; facsimile signatures. (a) Bonds and other securities issued under this act shall be executed in the name of the board, shall be signed by the chairman of the board, shall be attested by the secretary o…

Redemption prior to maturity. The board may provide for the redemption of any or all of the bonds or other securities prior to maturity, in such order, by lot or otherwise, at such time or times, without or with the payment of the premium or premiums not exceeding ten percent (10…

Repurchase of securities by board. Any bonds or other securities may be repurchased by the board out of any funds available for that purpose at a price of not more than the principal amount thereof and accrued interest, plus the amount of the premium, if any, which might on the n…

Use of proceeds from issuance of securities; accrued interest and premiums. All monies received from the issuance of any securities under this act shall be used solely for the purpose or purposes for which issued and to defray the cost of the project thereby delineated. Any accru…

Use of surplus proceeds. Any unexpended balance of the proceeds of securities remaining after the completion of the acquisition or improvement of properties pertaining to the project or otherwise the completion of the purpose or purposes for which the securities were issued shall…

Securities not affected by validity of project; purchaser not responsible as to application of proceeds. (a) The validity of any securities shall not be dependent on nor affected by the validity or regularity of any proceedings relating to a project or the proper completion of an…

Creation of special funds and accounts. The board in any resolution authorizing the issuance of bonds or other securities under this act or in any instrument or other proceedings appertaining thereto may create special funds and accounts for the payment of the cost of a project, …

Authority of board to employ experts, enter into contracts for services regarding securities. (a) The board may employ legal, fiscal, engineering, and other expert services in connection with any project or otherwise appertaining to the university and the authorization, sale and …

Investment of pledged revenues. (a) The board may cause to be invested and reinvested any pledged revenues and any proceeds of bonds or other securities issued hereunder in any investments authorized under W.S. 9-4-831 and may cause the revenues, proceeds of securities and invest…

Covenants in resolution limiting powers to secure payment. (a) Any resolution providing for the issuance of any bonds or other securities under this act payable from pledged revenues and any indenture or other instrument or proceedings appertaining thereto may contain covenants o…

Lien against pledged revenue. (a) Revenues pledged for the payment of any securities, as received by or otherwise credited to the board, are immediately subject to the lien of each pledge without any physical delivery thereof, any filing, or further act. (b) The lien of each pled…

Rights and powers of securities holders. (a) Subject to any contractual limitations binding upon the holders of any issue or series of securities, or trustee therefor, including but not limited to the restriction of the exercise of any remedy to a specified proportion, percentage…

Receivership. (a) If a resolution of the board authorizing or providing for the issuance of any securities of any series or any other proceedings appertaining thereto contains a provision authorized by W.S. 21-17-427(a)(xxviii) and provides in substance that any trustee appointed…

Rights of holder cumulative and nonexclusive. No right or remedy conferred upon any holder of any securities or any trustee for the holder or by any proceedings appertaining to the issuance of the securities is exclusive of any right or remedy but each right or remedy is cumulati…

Omission by security holder not to relieve board or university of obligation. The failure of any holder of any securities to proceed as provided by this act shall not relieve the board or the university, or any of their officers, agents and employees of any liability for failure …

Interim debentures; maturity; use of proceeds; funding of notes or warrants with proceeds. (a) Any interim debentures may mature at such time or times not exceeding a period of time equal to the estimated time needed to effect the purpose or purposes for which they are issued or …

Interim debentures; pledges for security. (a) Pledged revenues and other monies, including without limitation proceeds of bonds to be issued or reissued after the issuance of interim debentures, and bonds issued for the purpose of securing the payment of interim debentures, may b…

Interim debentures; limit as to extension or funding. No interim debentures issued pursuant to the provisions hereof shall be extended or funded except by the issuance or reissuance of a bond or bonds in compliance herewith.

Interim debentures; bonds for funding. (a) For the purpose of funding any interim debentures, any bonds pledged as collateral security to secure the payment of interim debentures, upon their surrender as pledged property, may be reissued, and any bonds not previously issued but a…

Refunding and refunding bonds; authority to refund bonds; limitation on refunding; exchange or surrender of bonds held by state for purposes of refunding. (a) Any bonds of the board or university payable from any pledged revenues may be refunded by the adoption of a resolution or…

Refunding and refunding bonds; exchange generally; sale; exchange for escrow investment. (a) Any bonds issued for refunding purposes may either be delivered in exchange for the outstanding bonds being refunded or may be publicly or privately sold. (b) The refunding bonds, or any …

Refunding and refunding bonds; conditions under which bonds may be refunded. (a) No bonds may be refunded hereunder unless they have been outstanding for at least one (1) year from the date of their delivery and unless the holders thereof voluntarily surrender them for exchange o…

Refunding and refunding bonds; disposition of proceeds; payment of costs; application of accrued interest and premiums. (a) Except as otherwise provided, the proceeds of refunding bonds shall either be immediately applied to the retirement of the bonds to be refunded or be placed…

Refunding and refunding bonds; funds in escrow and trust. (a) Any escrow or trust shall not necessarily be limited to proceeds of refunding bonds but may include other monies available for its purpose. (b) Any proceeds in escrow or trust, pending such use, may be invested or rein…

Refunding and refunding bonds; payment from pledged revenues. Refunding bonds may be made payable from any pledged revenues which might be legally pledged for the payment of bonds being refunded at the time of the refunding or at the time of the issuance of the bonds being refund…

Refunding and refunding bonds; issuance of refunding or other bonds. Bonds for refunding and bonds for any other purpose or purposes authorized by any other law may be issued separately or issued in combination in one (1) or more series by the board.

Refunding and refunding bonds; general provisions as to bonds applicable. Except as provided in W.S. 21-17-437 through 21-17-443, the relevant provisions elsewhere in this act appertaining generally to the issuance of bonds to defray the cost of any project shall be equally appli…

Determination of board final; exceptions. The determination of the board that the limitations imposed upon the issuance of refunding bonds or upon the issuance of other securities under this act have been met is conclusive in the absence of fraud or arbitrary and gross abuse of d…

Securities exempt from state taxation. Bonds and other securities issued under this act, their transfer, and the income therefrom, shall forever be and remain free and exempt from taxation by this state or any subdivision thereof.

Investment of state funds in securities authorized by W.S. 21-17-402 through 21-17-450. The state treasurer, with the approval of the governor and the attorney general of the state, on its behalf and in its name, may invest any permanent state funds or other state funds available…

Securities authorized are legal investments for financial institutions. (a) Any bank, trust company, banker, savings bank, or institution, any building and loan association, savings and loan association, investment company and any other person carrying on a banking or investment …

Scope and general construction of W.S. 21-17-402 through 21-17-450. (a) This act constitutes full authority for the exercise of the incidental powers herein granted concerning the borrowing of money to defray wholly or in part the cost of any project authorized by the legislature…

Liberal construction. This act being necessary to secure the public health, safety, convenience and welfare, shall be liberally construed to effect its purposes.

Contingent authorization for the university to acquire the national center for atmospheric research supercomputer center facility. (a) Subject to the terms and conditions of this section, the University of Wyoming board of trustees is authorized to acquire the facility housing th…