Title 16 — Title 16 — City, County, State And Local Powers

Short title. This act shall be known and may be cited as the "General Obligation Public Securities Refunding Law".

(a) Definitions. As used in this act: (i) "Clerk" means the clerk, secretary or other principal clerical officer of the issuer; (ii) "Federal securities" means the bills, certificates of indebtedness, notes, bonds, or similar obligations which are direct obligations of, or the pr…

"This act" means W.S. 16-5-101 through 16-5-119. Authority to refund; purposes therefor. (a) Any public security or securities issued by any public body of the state may be refunded, without an election, by the public body which issued them, or any successor thereof, in the name …

Interest; terms and conditions; negotiability. Refunding public securities shall bear interest, payable semiannually or annually, and evidenced by one (1) or two (2) sets of coupons, if any, except that the first coupon or coupons appertaining to a refunding public security may e…

General prerequisites and limitations. No public securities may be refunded hereunder unless the holders voluntarily surrender them for exchange or payment, or unless they either mature or are callable for prior redemption under their terms within twenty-five (25) years from the …

Limitations on number of issues. A public body may issue refunding public securities to refund one (1) or more or any part of one (1) or more or all issues of its public securities which are outstanding, and refunding public securities and public securities authorized for any oth…

Maximum allowable indebtedness. In no event shall the aggregate amount of indebtedness of any issuer exceed the maximum allowable amount as determined pursuant to the constitutional and statutory provisions, if any, applicable to the issuer. In determining and computing the aggre…

Sale or exchange; price. Any refunding public securities may be delivered in exchange for the outstanding public securities being refunded or may be publicly or privately sold in the manner determined by the governing body. Refunding public securities may be publicly or privately…

Costs of refunding. The incidental costs of the refunding of public securities may be paid by the purchaser of the refunding public securities or defrayed from the general fund of the public body or from the proceeds of the refunding public securities or from the interest or othe…

Disposition of proceeds; escrowed proceeds. The proceeds of refunding public securities shall either be immediately applied to the retirement of the public securities to be refunded or be placed in escrow in any state or national bank within the state which is a member of the fed…

Signing, countersigning, execution or attestation of securities or interest coupons; facsimile seals and signatures. Any refunding public security or interest coupon may be signed, countersigned, executed or attested by the public officials who are authorized by law at the time o…

Recitals in securities imparting legality. Any ordinance authorizing, or any other instrument appertaining to, any refunding public securities may provide that each refunding public security authorized shall recite that it is issued under the authority of this act. The recital sh…

Endorsement. The clerk shall endorse a certificate upon every refunding public security that it is issued pursuant to law and is within the debt limit of the issuer.

Governing body's determination of legality. The determination of a governing body that all the limitations hereunder imposed upon the issuance of refunding public securities have been met is conclusive in the absence of fraud or arbitrary and gross abuse of discretion.

Refunding by divided governing bodies. When a public body having outstanding indebtedness has been divided and parts thereof included within two (2) or more other public bodies, by any lawful means, the refunding of the securities requires affirmative action by a majority of the …

Financing; annual property tax; other funds. The governing body shall cause to be levied annually, without limitation of rate or amount, upon all taxable property of the issuer, in addition to other authorized taxes, a sufficient sum to pay the principal of and interest on the re…

Exemption from taxation; exception. The refunding public securities issued by any issuer pursuant to this act, their transfer, and the income therefrom, shall at all times be free from taxation within the state of Wyoming, except for estate taxes.

Other outstanding securities. This act shall have no effect on the legality of any outstanding public security issued for refunding or other purposes pursuant to any other law.

Scope, authority and effect of provisions. This act, without reference to other statutes of the state, except as herein otherwise specifically provided, is full authority for the authorization and issuance of refunding public securities. No other act or law with regard to the aut…

Short title. This act shall be known as the "1965 Public Securities Validation Act".

(a) Definitions. As used in this act: (i) "Public body" of the state means any state educational institution or other state institution, its board of trustees or other governing body constituting a body corporate, any county, city or town, whether incorporated or governed under a…

"This act" means W.S. 16-5-201 through 16-5-204. Outstanding securities. All public securities of the state and of all public bodies outstanding on February 17, 1965, the right to the payment of which has not been barred by any pertinent statute of limitations, and all acts and p…

Prior securities; limitations; exceptions. This act validates any public securities heretofore issued and any acts and proceedings heretofore taken which the legislature could have supplied or provided for in the law under which the public securities were issued and the acts or p…

Voidness of excessive indebtedness; liability of officer and sureties. Any indebtedness created by any county, city, town or other subdivision of the state in any current year in excess of that authorized by the constitution of the state and for which there are no revenues availa…

Redemption of bonds owned by state. Any bond issued by any county, municipality, school district or other political subdivision of the state and which bond the state owns on any interest payment date, upon thirty (30) days written notice to the state treasurer of the state is sub…

Short title. This act shall be known and may be cited as the "Bond Anticipation Note Act of 1981".

(a) Definitions. As used in this act: (i) "Anticipation note" means notes of the issuer, evidencing short-term borrowings, issued in anticipation of the issuance of bonds which a governing body is authorized to issue; (ii) "Authorizing instrument" means an ordinance, resolution, …

Authority to issue notes; election thereon. (a) If the qualified electors of an issuer authorize the issuance of bonds or the issuance of anticipation notes at an election held pursuant to W.S. 22-21-101 through 22-21-112 and the governing body of the issuer considers it advisabl…

Authorizing instrument. (a) Anticipation notes issued pursuant to this act shall be authorized by instrument of the issuer which shall: (i) Describe the bonds in anticipation of which the notes are to be issued; (ii) Declare the results of the election authorizing the issuance of…

Manner of issuance; form, terms and conditions. Anticipation notes shall be issued and sold in such manner and at such price as the governing body determines by the instrument authorizing their issuance. Anticipation notes shall be in bearer form, except that the governing body m…

Payment, surrender and cancellation. Contemporaneously with the issuance of the bonds in anticipation of which anticipation notes have been issued, all anticipation notes issued, even though they may not then have matured, shall be paid, both as to principal and interest to date …

Security; sources of payment. (a) Whenever the bonds in anticipation of which notes are issued are to be payable from ad valorem taxes and constitute full general obligations of the municipality, the bond anticipation notes and the interest on them shall be secured by a pledge of…

Signing, countersigning, execution or attestation of notes; facsimile seals and signatures. Any anticipation notes or interest coupon may be signed, countersigned, executed or attested by the public official or officials who are authorized by law at the time of the issuance of th…

Recital in notes imparting legality. Any instrument of an issuer authorizing, or any other instrument appertaining to, any anticipation note may provide that each anticipation note therein authorized shall recite that it is issued under the authority of this act. Such recital sha…

Endorsement. The clerk of the issuer shall endorse a certificate upon every anticipation note that the same is issued pursuant to law and is within the debt limit of the issuer if the notes are issued in anticipation of the issuance of general obligation bonds, or, as to notes is…

Governing body's determination of legality. The determination of a governing body that all the limitations imposed upon the issuance of anticipation notes have been met shall be conclusive in the absence of fraud or arbitrary and gross abuse of discretion.

Scope, authority and effect of provisions. (a) This act, without reference to other statutes of the state except as herein otherwise specifically provided, constitutes full authority for the authorization and issuance of anticipation notes hereunder. No other act or law with rega…

Applicability. This article applies to bonds, notes, warrants, certificates or other securities evidencing loans or the advancement of monies, heretofore or hereafter authorized to be issued by or on behalf of the state or any political subdivision, district, public board, agency…

Form, payment and transfer of securities. (a) The securities described in W.S. 16-5-501 shall be in registered or bearer form, with or without interest coupons, be subject to such conditions for transfer, be subject to such provisions for conversion as to denomination or to beare…

Determination by resolution or ordinance. The determination of the body authorized or empowered to issue securities required by W.S. 16-5-502 shall be made in the resolution or ordinance authorizing the issuance of the securities or in any supplemental ordinance, resolution or ot…

No restriction on other acts. This article as to the matters contained herein shall constitute an additional and separate grant of powers and these powers may be exercised without regard to provisions concerning matters in any other act but this article is not a restriction or li…