Title 21 — Title 21 — Education

Term; appointment of additional trustees; appointment of successors; vacancies; members of faculty disqualified; removal. (a) The term of office of the trustees appointed is six (6) years. During each session of the legislature, the governor shall nominate, and with the advice an…

To be body corporate; powers, duties and functions generally. The board of trustees and their successors in office constitute a body corporate by the name of "the trustees of the University of Wyoming". They possess all the powers necessary or convenient to accomplish the objects…

Additional powers and duties; sectarian or partisan instruction or test prohibited; professional services procurement. (a) The board of trustees shall prescribe rules for the government of the university and all its branches, elect the requisite officers, professors, instructors …

Report. The trustees of the University of Wyoming, through their chairman, shall report to the governor as required by W.S. 9-21014 respecting the progress, condition and wants of the university and of each school or department thereof, the course of study in each, the number of …

oaths. Secretary to take oath of office and administer (a) The secretary of the board of trustees of the University of Wyoming, before entering upon the duties of the office, shall take the oath of office provided for elective officers under the constitution of this state. (b) Th…

University board composition; community college ex-officio member. In addition to the members of the university board of trustees specified under W.S. 21-17-201, the director of the Wyoming community college commission shall serve as a member ex officio, having the right to speak…

construction. (a) University property maintenance and capital As used in this section: (i) "Capital construction project" means as defined by W.S. 9-2-3001(b)(ii); (ii) 2-3001(b)(ix); "Major maintenance" means as defined by W.S. 9- (iii) 3001(b)(x); "Property" means as defined by…

Supervision and management of farms and stations; director of experiments. (a) All the experiment farms and stations are under the supervision, management and control of the board of trustees of the University of Wyoming. (b) The board of trustees of the University of Wyoming may…

control. Location and acreage of farms; supervision and (a) The state may conduct experimental farms: (i) Repealed By Laws 2003, Ch. 147, § 3. (ii) Repealed By Laws 2003, Ch. 147, § 3. (iii) Repealed By Laws 2003, Ch. 147, § 3. (iv) Repealed By Laws 2003, Ch. 147, § 3. (v) At or …

Appropriation of funds. Revenue within the agricultural college account provided by W.S. 9-4-310(c)(i) is appropriated and may be used by the board of trustees of the University of Wyoming for any purpose connected with the supporting and maintenance of the agricultural college a…

Acceptance of federal grants; administration. (a) The state of Wyoming assents to and accepts the conditions of the acts of the United States Congress cited as 7 U.S.C. sections 301 through 390j and 16 U.S.C. sections 590a through 590q-3, and future acts amendatory or supplementa…

County cooperation in extension work; districts; county agents. (a) A board of county commissioners may cooperate in extension work in agriculture and home economics in the county under the supervision of the agricultural college of the university and for that purpose may annuall…

board. Soil conservation programs; state advisory (a) In formulating plans for soil conservation programs to be submitted to the secretary of agriculture the university shall select a state advisory board with the approval of the governor from persons who participate in soil cons…

Leases authorized; scope of authority to lease. (a) The trustees of the University of Wyoming may grant mineral leases in the name of the state of Wyoming to any lands acquired in the name of the state of Wyoming for experimental farm purposes. This authority extends to those lan…

Wyoming state veterinary laboratory. (a) The division of microbiology and veterinary medicine, college of agriculture, University of Wyoming shall manage, operate and maintain the Wyoming state veterinary laboratory. All records, property, personnel and unused funds of the Wyomin…

Certain portions of campus restricted to park or recreational purposes; construction of buildings or structures prohibited thereon. (a) That portion of the campus of the University of Wyoming described as follows is restricted to park or recreational purposes only and no structur…

Short title. W.S. 21-17-402 through 21-17-450 shall be known and may be cited as the "University Securities Law."

Purpose. It is the purpose of this act to provide a procedure for financing any projects authorized by law and for the issuance of securities to evidence or reevidence obligations incurred in connection with any projects authorized by the legislature. This act is supplemental in …

(a) Definitions. As used in W.S. 21-17-402 through 21-17-450: (i) "Acquisition" or "acquire" means the opening, laying out, establishment, purchase, construction, securing, installation, reconstruction, lease, gift, grant from the federal government, the state, any body corporate…

Securities redeemable out of pledged revenue; board's liability; earnings test; schedule of payments; calculations of university treasurer. (a) Any bonds or other securities issued under this act, together with any interest accruing thereon and any prior redemption premiums due i…

property. Payment not secured by pledge of university The payment of securities shall not be secured by an encumbrance, mortgage, or other pledge of property of the board except for pledged revenues. No property of the board except pledged revenues is liable to be forfeited or ta…

No recourse against trustees. No recourse shall be had for the payment of the principal of, any interest on and any prior redemption premiums due in connection with any bonds or other securities of the board or for any claim based thereon or otherwise upon the resolution authoriz…

Securities not state obligations; state obligations generally. (a) Any bonds or other securities issued under this act are not securities, debts or obligations of the state and are not enforceable against the state. (b) The board may not obligate the state except as provided by W…

Pledge not to amend or repeal W.S. 21-17-402 through 21-17-450 to impair securities. The faith of the state is hereby pledged that this act, any law supplemental or otherwise appertaining thereto and any other act concerning the bonds and other securities of the board or the univ…

Borrowing or otherwise becoming obligated to defray cost of authorized projects. (a) Where any project is otherwise authorized by law and where the board is otherwise authorized by law to issue its securities to defray the cost of the project, the board may borrow money or otherw…

Types of securities authorized. (a) The board may issue in one (1) series or more, without their being authorized at any election, in anticipation of net pledged revenues and constituting special obligations of the board, any one (1) or more or all of the following types of secur…

or funding. Maturity dates of notes and warrants; extension Notes and warrants may mature at such time or times not exceeding one (1) year from the date of their issuance as the board may determine. They shall not be extended or funded except by the issuance of bonds or interim d…

Temporary bonds. Each temporary bond shall set forth substantially the same conditions, terms and provisions as the definitive bond for which it is exchanged. Each holder of a temporary bond has all rights and remedies which he would have as a holder of the definitive bonds for w…

Resolution authorizing issuance of securities. The resolution authorizing the issuance of any securities under this act shall describe the purpose or purposes for which they are issued at least in general terms and may describe any purpose in detail.

General criteria for securities. Except as otherwise provided, securities issued under this act shall be (a) in a form, (b) issued in a manner, at, above or below par, at public or private sale, and (c) issued with recitals, terms, covenants, conditions and other provisions, as m…

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…

secure payment. Covenants in resolution limiting powers to (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…

funding. Interim debentures; limit as to extension or 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.