reglab/statecodes huggingface dataset:
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 3 - Agriculture and Extension Work › Section 21-17-307 - Leases Authorized; Scope of Authority to Lease.

21-17-307. 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 lands transferred into the control of the trustees of the University of Wyoming by chapter 99, Session Laws of Wyoming, 1923, and all other land theretofore or thereafter acquired in the name of the state of Wyoming for experimental farm purposes and now under the administration and control of the trustees of the University of Wyoming, whether or not acquired pursuant to express legislative authorization.
(b) Mineral leases executed under the authority hereby granted shall be executed by such persons, shall be granted upon terms prescribed by the state board of land commissioners for the leasing of other state lands and shall include such additional provisions as the trustees of the University of Wyoming determine to be necessary to protect the surface of the lands or the use thereof for university purposes.
(c) If land used for experimental farm purposes is leased under this section, and it becomes untenable for experimental purposes by virtue of mineral production or exploration thereon, the trustees shall, without unnecessary delay, obtain other lands in the same general vicinity. In all cases the land obtained, whether by grant, purchase or gift, must be within the boundaries of the same county as the land rendered untenable and must be suitable for experimental farm purposes. The trustees shall take immediate steps to reestablish an operating experimental farm on the land obtained.
(d) All amounts received under mineral leases, including bonus payments, delay rentals and royalties, shall be expended for the purposes of the University of Wyoming as the trustees of the University of Wyoming may determine.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-401 - Certain Portions of Campus Restricted to Park or Recreational Purposes; Construction of Buildings or Structures Prohibited Thereon.

21-17-401. 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 structure shall be constructed on the tract without the approval of the legislature:
(i) A tract of land in the southwest corner of the property known as the campus of the University of Wyoming, in Albany county, Wyoming, which is bounded on the south by a street in the city of Laramie designated as Ivinson Avenue; on the west by a street in the said city designated as Ninth (9th) Street; on the north by an easterly extension of the north line of the street in said city designated as University Avenue; and on the east by an extension, north and south, of the west line of the building known as Hoyt Hall and located on said campus.
(b) In order to preserve the natural and open beauty of that portion of the University of Wyoming campus commonly known and referred to as "Prexy's Pasture", no structures, other than ornamental improvements, or buildings of any kind or type shall be located or constructed upon the portion of the campus described as follows:
(i) All that portion of the East 1/2 of Section 33, Township 16 N, R 73 W, of the 6th PM, Albany county, Wyoming, bounded as follows:
(A) Beginning at a point from which the East 1/4 corner of said Section 33 bears South 83 degrees 15' East a distance of 803 feet; thence South 5 degrees 45' West a distance of 410 feet; thence North 84 degrees 15' West a distance of 578 feet; thence North 5 degrees 45' East a distance of 410 feet; thence South 84 degrees 15' East a distance of 578 feet, more or less, to the point of beginning. Said parcel of land containing 5.44 acres, more or less.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-403 - Purpose.

21-17-403. 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 nature, and nothing herein contained shall be construed as authorizing any particular project nor as authorizing the incurrence of any obligations to defray the cost of any project or construction until the construction or project is specifically authorized by the legislature.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-406 - Payment Not Secured by Pledge of University Property.

21-17-406. Payment not secured by pledge of university property.
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 taken in payment of securities.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-407 - No Recourse Against Trustees.

21-17-407. 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 authorizing their issuance or other instrument appertaining thereto, against any individual trustee of the board, past, present or future, either directly or indirectly through the board or the university, or otherwise, whether by virtue of any constitution, statute or rule of law, or by the endorsement of any penalty or otherwise, all such liability, if any, being by the acceptance of the securities and as a part of the consideration of their issuance specially waived and released.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-408 - Securities Not State Obligations; State Obligations Generally.

21-17-408. 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.S. 21-17-409, pledge, assign or encumber in any way or permit the pledging, assigning or encumbering of any revenue paid to the university except as designated in W.S. 21-17-404(a)(xiv)(A)(I) through (VI).
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-409 - Pledge Not to Amend or Repeal w.s. 21-17-402 Through 21-17-450 to Impair Securities.

21-17-409. 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 university or the pledged revenues shall not be repealed nor amended or otherwise directly or indirectly modified in such a manner as to impair adversely any outstanding securities of the board until all such securities payable from the pledged revenues have been discharged in full or provision has been fully made therefor, including without limitation the known minimum yield from the investment or reinvestment of monies pledged therefor in investments under W.S. 21-17-426.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-410 - Borrowing or Otherwise Becoming Obligated to Defray Cost of Authorized Projects.

21-17-410. 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 otherwise become obligated for the project and may evidence any obligation by the issuance of the board's securities.
(b) In connection with any project so authorized, the board, except as otherwise provided, may:
(i) Have and alter a corporate seal;
(ii) Sue and be sued;
(iii) Acquire and hold property, rights or interests therein and water rights;
(iv) Dispose of unnecessary or obsolete property, or rights or interests therein;
(v) Make contracts and execute all instruments necessary or convenient, as determined by the board;
(vi) Acquire by contracts or by its own agents and employees, or otherwise acquire any properties as any project authorized and operate and maintain the properties; and
(vii) Accept grants of money or materials or property of any kind from the federal government, the state, any agency or political subdivision thereof, or any person, upon such terms and conditions as the federal government, state, agency or political subdivision, or person may impose.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-411 - Types of Securities Authorized.

21-17-411. 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 securities:
(i) Notes evidencing any amount borrowed by the board;
(ii) Warrants evidencing the amount due to any person for any services, or supplies, equipment or other materials furnished to the board or for the benefit of the university and appertaining to an authorized project;
(iii) Bonds evidencing any amount borrowed by the board and constituting long-term financing;
(iv) Temporary bonds pending the preparation of and exchangeable for definitive bonds of like character and in the principal amount when prepared and issued in compliance with the conditions and limitations provided by this act; and
(v) Interim debentures, evidencing any emergency loans, construction loans, and other temporary loans of not exceeding three (3) years, in supplementation of long-term financing and the issuance of bonds, as provided in W.S. 21-17-433 through 21-17-436.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-412 - Maturity Dates of Notes and Warrants; Extension or Funding.

21-17-412. Maturity dates of notes and warrants; extension or funding.
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 debentures in compliance with W.S. 21-17-433 and other provisions supplemental thereto.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-413 - Temporary Bonds.

21-17-413. 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 which the temporary bond is to be exchanged.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-414 - Resolution Authorizing Issuance of Securities.

21-17-414. 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.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-415 - General Criteria for Securities.

21-17-415. 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 may be provided by the board in a resolution authorizing their issuance and in an indenture or other proceedings appertaining thereto.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-416 - Recital in Resolution That Securities Are Issued Pursuant to w.s. 21-17-402 Through 21-17-450; Effect of Recital.

21-17-416. 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 securities contain a recital that they are issued pursuant to this act, which recital shall be conclusive evidence of their validity and the regularity of their issuance.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-417 - Conditions Which May Be Imposed by Board; Interest Coupons.

21-17-417. 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 and for all purposes of the Uniform Commercial Code, W.S. 34.1-8-101 through 34.1-8-603;
(iii) Mature at such time or serially at such times in regular numerical order at annual or other designated intervals in amounts designated and fixed by the board, but not exceeding fifty (50) years from their date;
(iv) Bear interest at fixed or variable rates to be payable at a time or place whether within or without the state as determined by the board. The board may also enter into interest rate exchange agreements to properly manage interest costs with providers with a Standard & Poor's rating of at least "AA" or an equivalent rating from any other nationally recognized rating organization;
(v) Be made payable in lawful money of the United States, at the office of the treasurer of the university or any commercial bank or commercial banks;
(vi) Be printed at such place as the board may determine.
(b) Repealed By Laws 2005, ch. 143, 2.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-418 - Board and Officers to Execute Securities; Endorsement by University Treasurer; Facsimile Signatures.

21-17-418. 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 of the board, shall be countersigned by the treasurer of the board and shall be authenticated by the official seal of the board.
(b) The treasurer of the university shall endorse a certificate upon each bond or other security issued under this act that the bond or security is issued pursuant and according to law, does not exceed any lawful debt limit of the board and does not constitute an indebtedness within the meaning of any constitutional or statutory provision or limitation.
(c) Any bonds or other securities, including without limitation any certificates endorsed thereon, may be executed as provided in W.S. 16-2-101 through 16-2-103.
(d) The bonds and other securities, bearing the signatures of the officers in office at the time of the signing thereof, are the valid and binding obligations of the board notwithstanding that before the delivery and payment of the bonds or securities, any or all of the persons whose signatures appear thereon have ceased to fill their respective offices.
(e) Any officer authorized or permitted to sign any bonds or any other securities, at the time of their execution and of a signature certificate appertaining thereto, may adopt as and for his own facsimile signature the facsimile signature of his predecessor in office in the event that the facsimile signature appears upon the bonds and other securities appertaining thereto, or any combination thereof.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-419 - Redemption Prior to Maturity.

21-17-419. 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%) of the principal amount of each bond or other security so redeemed, and otherwise upon such terms as may be provided by the board in the resolution authorizing the issuance of the securities or other instrument appertaining thereto.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-420 - Repurchase of Securities by Board.

21-17-420. 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 next prior redemption date of the securities be paid to the holders thereof if the securities should be called for redemption on such date pursuant to their terms. All securities repurchased shall be cancelled. If the securities may not be called for prior redemption at the board's option within one (1) year from the date of their purchase, they may be repurchased without limitation as to price.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-421 - Use of Proceeds From Issuance of Securities; Accrued Interest and Premiums.

21-17-421. 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 accrued interest and any premium shall be applied to the cost of the project or to the payment of the interest on or the principal of the securities, or both, or shall be deposited in a reserve therefor, or any combination thereof, as the board may determine.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-422 - Use of Surplus Proceeds.

21-17-422. 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 be credited immediately to the fund or account created for the payment of the interest on or the principal of the securities, or both principal and interest, and shall be used therefor, subject to the provisions as to the times and methods for their payment as stated in the securities and the proceedings authorizing or otherwise appertaining to their issuance, or so paid into a reserve therefor, or any combination thereof, as the board may determine.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-423 - Securities Not Affected by Validity of Project; Purchaser Not Responsible as to Application of Proceeds.

21-17-423. 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 any purpose for which the securities are issued.
(b) The purchaser or purchasers of the securities are not responsible for the application of the proceeds of the securities by the board or any officers, agents and employees of the board or the university, or of both.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-424 - Creation of Special Funds and Accounts.

21-17-424. 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, of operation and maintenance expenses, of the securities, including the accumulation and maintenance of reserves therefor, of improvements, including the accumulation and maintenance of reserves therefor, and of other obligations appertaining to the securities, any project or otherwise in connection with the university.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-425 - Authority of Board to Employ Experts, Enter Into Contracts for Services Regarding Securities.

21-17-425. 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 issuance of bonds and other securities under this act.
(b) The board is authorized to enter into any contracts or arrangements not inconsistent with this act with respect to the sale of bonds or other securities hereunder, the employment of bond counsel, and other matters as the board may determine to be necessary or desirable in accomplishing the purposes of this act.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-426 - Investment of Pledged Revenues.

21-17-426. 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 investments to be deposited, subject to any limitations appertaining thereto in section 7, article 15, Wyoming Constitution, in any trust bank or banks and secured in such manner and subject to such terms and conditions as the board may determine, with or without the payment of any interest on the deposit, including without limitation time deposits evidenced by certificates of deposit.
(b) Any investments under subsection (a) of this section may be sold and the proceeds reinvested or redeposited as provided in this section.
(c) Sales and redemptions of any investments under subsection (a) of this section shall be made in season so that the proceeds may be applied to the purposes for which the money with which the investments were originally acquired was placed in the treasury of the board.
(d) Any gain from any investments or reinvestments under this section may be credited to any fund or account pledged for the payment of any securities issued under this act, including any reserve therefor, or any other fund or account appertaining to a project or otherwise appertaining to the university.
(e) Any commercial bank incorporated under the laws of this state which may act as depository of the proceeds of any securities issued hereunder, any investments under subsection (a) of this section owned by the board, any pledged revenues, and any monies otherwise appertaining to the university may furnish such indemnifying bonds or to pledge such investments or such other securities as may be required by the board.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-428 - Lien Against Pledged Revenue.

21-17-428. 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 pledge and the obligation to perform the contractual provisions made in the authorizing resolution or other instrument appertaining thereto is prior to any other obligations and liabilities of the board except as may be otherwise provided in this act or in the resolution or other instrument, and subject to any prior pledges and liens theretofore created.
(c) The lien of each pledge is valid and binding as against all persons having claims of any kind in tort, contract or otherwise against the board or university irrespective of whether the persons have notice thereof.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-429 - Rights and Powers of Securities Holders.

21-17-429. 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 or number of holders, and subject to any prior or superior rights of others, any holder of securities, or trustee therefor, shall have the right and power, for the equal benefit and protection of all holders of securities similarly situated:
(i) By mandamus or other suit, action or proceeding at law or in equity to enforce his rights against and to require or compel the board or university, or both, the president of the university, and any other of the officers, agents and employees of the board or university, or both, to perform and carry out their respective duties, obligations or other commitments under this act and their respective covenants and agreements with the holder of any security;
(ii) By action or suit in equity to require the board or university, or both, to account as if they were the trustee of an express trust;
(iii) By action or suit in equity to have appointed a receiver who may enter and take possession of any facilities and any pledged revenues for the payment of the securities, prescribe sufficient fees derived from the facilities, and collect, receive and apply all pledged revenues or other monies pledged for the payment of the securities in the same manner as the board itself might do in accordance with the obligations of the board; and
(iv) By action or suit in equity to enjoin any acts or things which may be unlawful or in violation of the rights of the holder of any securities and to bring suit thereupon.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-430 - Receivership.

21-17-430. 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 pursuant to the subsection has the powers provided by that subsection, then the trustee, whether or not all of the bonds or other securities of series have been declared due and payable, is entitled as of right to the appointment of a receiver of the facilities appertaining thereto.
(b) Any receiver appointed as permitted by W.S. 21-17-427(a)(xxviii) may enter upon and take possession of the facilities and property appertaining thereto, and, subject to any pledge or contract with the holders of the securities, shall take possession of all monies and other property derived from or applicable to the acquisition, operation, maintenance or improvement of the facilities and proceed with the acquisition, operation, maintenance or improvement which the board is under any obligation to do, and operate, maintain, equip and improve the facilities, and, fix, charge, collect, enforce and receive the service charges and all revenues thereafter arising subject to any pledge thereof or contract with the holders of the securities relating thereto and perform the public duties and carry out the contracts and obligations of the board in the same manner as the board itself might do and under the direction of the court.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-431 - Rights of Holder Cumulative and Nonexclusive.

21-17-431. 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 cumulative and in addition to every other right or remedy and may be exercised without exhausting and without regard to any other remedy.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-432 - Omission by Security Holder Not to Relieve Board or University of Obligation.

21-17-432. 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 to perform or carry out any duty, obligation or other commitment.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-433 - Interim Debentures; Maturity; Use of Proceeds; Funding of Notes or Warrants With Proceeds.

21-17-433. 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 for which the bonds are authorized to be issued, but not exceeding three (3) years from the date of the interim debentures, as the board may determine.
(b) The proceeds of interim debentures shall be used to defray the cost of the project appertaining thereto.
(c) Any notes or warrants may be funded with the proceeds of interim debentures as well as with the proceeds of bonds.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-434 - Interim Debentures; Pledges for Security.

21-17-434. 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 be pledged for the purpose of securing the payment of interim debentures.
(b) Any bonds pledged as collateral security for the payment of any interim debentures shall mature at such time or times as the board may determine, but in no event exceeding fifty (50) years from the dates of the bonds and interim debentures, or if the dates are not the same, from whichever date is the earlier.
(c) Any bonds pledged as collateral security shall not be issued in an aggregate principal amount exceeding the aggregate principal amount of the interim debenture or interim debentures secured by a pledge of the bonds.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-435 - Interim Debentures; Limit as to Extension or Funding.

21-17-435. 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.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-436 - Interim Debentures; Bonds for Funding.

21-17-436. 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 authorized to be issued by any law for a purpose or purposes the same as or encompassing the purpose or purposes for which the interim debentures were issued, may be issued for such a funding.
(b) Any bonds shall mature at such time or times as the board may determine, but in no event exceeding fifty (50) years from the dates of the interim debentures so funded and the bonds so pledged as collateral security, or if the dates are not the same, from whichever date is the earlier.
(c) Bonds for funding and bonds for any other purpose or purposes may be issued separately or issued in combination in one (1) or more series.
(d) Except as herein otherwise provided in W.S. 21-17-433 through 21-17-436, any funding bonds shall be issued as is provided by this act for other bonds.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-437 - Refunding and Refunding Bonds; Authority to Refund Bonds; Limitation on Refunding; Exchange or Surrender of Bonds Held by State for Purposes of Refunding.

21-17-437. 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 resolutions by the board and by any trust indenture or other proceedings appertaining thereto, authorizing the issuance of bonds:
(i) To refund, pay, and discharge all or any part of the outstanding bonds of any one (1) or more or all outstanding issues, including any interest thereon in arrears, or about to become due for any period not exceeding three (3) years from the date of the refunding bonds;
(ii) For the purpose of reducing interest costs or effecting other economies;
(iii) For the purpose of modifying or eliminating restrictive contractual limitations appertaining to the issuance of additional bonds, otherwise concerning the outstanding bonds, or to any facilities appertaining thereto; or
(iv) For any combination thereof.
(b) The board may not call bonds now or hereafter outstanding for prior redemption in order to refund the bonds or in order to pay them prior to their stated maturities, unless the right to call the bonds for prior redemption was specifically reserved and stated in the bonds at the time of their issuance, and all conditions with respect to the manner, price and time applicable to the prior redemption as set forth in the proceedings authorizing the outstanding bonds are strictly observed. No holder of an outstanding bond may be compelled to surrender the bond for refunding prior to its stated maturity or optional date of prior redemption expressly reserved therein even though the refunding might result in financial benefit to the board or university.
(c) Notwithstanding the provisions of subsection (b) of this section or of any other law, this state, acting by and through the governor with the approval of the state treasurer and the attorney general, may agree with the board to exchange any outstanding bonds of the board and held by the state, or any agency, corporation, department or other instrumentality of the state, for refunding bonds of the board, or otherwise to surrender the outstanding bonds to the board for refunding at such price and time and otherwise upon such conditions and other terms and in such manner as may be mutually agreeable at any time prior to their respective maturities or to any date as of which the board has the right and option to call the outstanding bonds for prior redemption as expressly provided in the outstanding bonds and any resolution, trust indenture or other proceedings authorizing their issuance.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-438 - Refunding and Refunding Bonds; Exchange Generally; Sale; Exchange for Escrow Investment.

21-17-438. 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 part thereof, may be exchanged by the board for investments under W.S. 21-17-426 which have been made available for escrow investment by any purchaser of refunding bonds, upon terms of exchange mutually agreed upon, and any such investments so received by the board shall be placed in escrow as provided by W.S. 21-17-440 and 21-17-441.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-439 - Refunding and Refunding Bonds; Conditions Under Which Bonds May Be Refunded.

21-17-439. 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 or payment.
(b) Repealed By Laws 2005, ch. 143, 2.
(c) The principal amount of the refunding bonds may exceed the principal amount of the refunded bonds if the aggregate principal and interest costs of the refunding bonds do not exceed the unaccrued costs of the bonds refunded, except to the extent any interest on the bonds refunded in arrears or about to become due is capitalized with the proceeds of the refunding bonds. Principal may also then be increased to that extent.
(d) The principal amount of the refunding bonds may also be less than or the same as the principal amount of the bonds being refunded so long as provision is duly and sufficiently made for their payment.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-440 - Refunding and Refunding Bonds; Disposition of Proceeds; Payment of Costs; Application of Accrued Interest and Premiums.

21-17-440. 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 in escrow or trust in any trust bank or trust banks to be applied to the payment of the refunded bonds or the refunding bonds, or both, upon their presentation therefor to the extent, in such priority and otherwise in the manner which the board may determine.
(b) The incidental costs of the refunding of bonds may be paid by the purchaser of the refunding bonds or be defrayed from other available revenues of the board or from the proceeds of the refunding bonds, or from the interest or other yield derived from the investment of any refunding bond proceeds or other monies in escrow or trust, or from any other sources legally available therefor, or any combination thereof, as the board may determine.
(c) Any accrued interest and any premium appertaining to a sale of refunding bonds may be applied to the payment of the interest thereon or the principal thereof, or to both interest and principal, or may be deposited in a reserve therefor, or may be used to refund bonds by deposit in escrow, trust or otherwise, or may be used to defray any incidental costs appertaining to the refunding, or any combination thereof, as the board may determine.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-441 - Refunding and Refunding Bonds; Funds in Escrow and Trust.

21-17-441. 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 reinvested in investments under W.S. 21-17-426.
(c) Subject to any limitations appertaining thereto in section 7, article 15, Wyoming Constitution, any trust bank accounting for investments under W.S. 21-17-426 in escrow or trust may place them for safekeeping wholly or in part in any trust bank or trust banks.
(d) Subject to any limitations appertaining thereto in section 7, article 15, Wyoming Constitution, any trust bank shall continuously secure any monies placed in escrow or trust and not so invested or reinvested in investments under W.S. 21-17-426 by a pledge in any trust bank or trust banks of federal securities in an amount at all times at least equal to the total uninvested amount of the monies accounted for in escrow or trust.
(e) Proceeds and investments in escrow or trust, together with any interest or other gain to be derived from any investment, shall be in an amount at all times at least sufficient to pay principal, interest, any prior redemption premiums due, and any charges of the escrow agent or trustee and any other incidental expenses payable therefrom, except to the extent other provisions were made, as the obligations become due at their respective maturities or due at designated prior redemption date or dates in connection with which the board shall have exercised or shall be obligated to exercise a prior redemption option.
(f) The computations made in determining the sufficiency shall be verified by a certified public accountant certificated to practice in this state or in any other state.
(g) Any purchaser of any refunding bond issued under this act shall in no manner be responsible for the application of the proceeds thereof by the board or the university or any of their respective officers, agents, or employees.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-442 - Refunding and Refunding Bonds; Payment From Pledged Revenues.

21-17-442. 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 refunded, as the board may determine, notwithstanding the revenue sources or the pledge of the revenues for the payment of the outstanding bonds being refunded is hereby modified.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-443 - Refunding and Refunding Bonds; Issuance of Refunding or Other Bonds.

21-17-443. 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.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-444 - Refunding and Refunding Bonds; General Provisions as to Bonds Applicable.

21-17-444. 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 applicable in the authorization and issuance of refunding bonds, including their terms and security, the covenants and other provisions of the resolution authorizing the issuance of the bonds, or other instrument or proceedings appertaining thereto, and other aspects of the bonds.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-445 - Determination of Board Final; Exceptions.

21-17-445. 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 discretion regardless of whether the authorizing resolution or the securities thereby authorized contain a recital as authorized by W.S. 21-17-416.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-446 - Securities Exempt From State Taxation.

21-17-446. 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.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-447 - Investment of State Funds in Securities Authorized by w.s. 21-17-402 Through 21-17-450.

21-17-447. 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 for investment in any of the bonds or other securities authorized to be issued pursuant to this act.
2023 Wyoming Statutes › Title 21 - Education › Chapter 17 - University of Wyoming › Article 4 - Capital Construction Projects › Section 21-17-448 - Securities Authorized Are Legal Investments for Financial Institutions.

21-17-448. 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 business, any insurance company, insurance association, or any other person carrying on an insurance business, and any executor, administrator, curator, trustee or any other fiduciary, may invest funds or monies in their custody in any of the bonds or other securities issued under this act.
(b) Nothing contained in this section with regard to legal investments relieves any representative of any corporation or other person of any duty of exercising reasonable care in selecting securities.