reglab/statecodes huggingface dataset:
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 7 - Investment of State Funds › Section 9-4-717 - Additional Investment Matters.

9-4-717. Additional investment matters.
(a) The state treasurer may form entities required in the general practice employed by banks and brokerage firms for the purpose of designating a "nominee name" in securities transactions.
(b) The state treasurer may offer and pay a reasonable premium for bonds and other securities. The purchase price shall not exceed the market value of the bonds or other securities at the time of purchase. The premium paid for the investments shall be amortized over the life of the investment to the fund or account from which the premium was paid.
(c) The state treasurer directly, or investment managers of state funds, may effect sales or exchanges of investments of state funds, whenever the sale or exchange will result in a loss of principal, if the sale or exchange tends to maximize the total return on the funds invested and is otherwise consistent with implementation of the state investment policy established by the board under W.S. 9-4-716.
(d) As part of the state investment strategy, the state treasurer may retain the services of a custodial bank or an independent securities lending agent to supervise a program of securities lending in exchange for a fee or other consideration. Supervision of the program shall include:
(i) Procedures to review the creditworthiness of all borrowers;
(ii) Requirements for full collateralization of all loans; and
(iii) Other methods and procedures required by the board for securing the lending program.
(e) In making any new investment of state funds under this act or investing state or other funds as otherwise authorized by law, the state treasurer shall consult with the designated chief investment officer or the officer's designee.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 7 - Investment of State Funds › Section 9-4-718 - Investment Managers.

9-4-718. Investment managers.
(a) The state treasurer may contract with investment managers and pay for investment services and investment advice subject to the following conditions:
(i) All fees and other costs of contracting for and using the services of an investment manager, except transaction costs and custodial fees, shall be accounted for on at least a quarterly basis;
(ii) Without the approval of the board:
(A) No contract with an investment manager shall permit that manager to manage more than fifteen percent (15%) of the total portfolio of state funds available for investment at the time the contract is executed; and
(B) No investment manager under contract with the state treasurer shall be permitted to act as a securities broker with respect to transactions involving state investments managed by such investment manager, unless the transaction can be made without incurring commission or market impact cost.
(iii) The amount of state funds under contract with an investment manager shall not exceed ten percent (10%) of the total assets managed by that investment manager;
(iv) Investment managers shall be selected based upon a competitive process and with consideration given to the historical performance of prospective managers. No investment manager shall be hired unless approved by a majority vote of the board in consultation with the investment funds committee created by this act. The contract with an investment manager may be terminated by a majority vote of the board;
(v) Investment managers shall be paid on a negotiated flat fee or performance basis based upon net assets invested;
(vi) Contracts with investment managers shall be subject to cancellation upon receipt of thirty (30) days notice by either party;
(vii) The state treasurer shall not contract with any person as an investment manager under this subsection unless that person or that person's firm has prior to the execution of the contract, a verifiable CFA Institute (Chartered Financial Analyst Institute) compliant track record of at least five (5) years with respect to the type of investments regarding which the investment manager will provide services or the investment manager is employed by an organized and chartered bank trust company with trust assets in excess of one billion dollars ($1,000,000,000.00). Any prospective manager shall submit to the state treasurer audited financial statements in accordance with the treasurer's rules and regulations and a certified record of the manager's past investment performance prepared by an independent entity;
(viii) Each investment manager shall at least quarterly provide a report to the state treasurer describing the manager's performance relative to mutually agreed upon industry indices and reflecting all brokerage fees and other fees or expenses paid by or fees earned by the manager which are paid by the state under the contract.
(b) Repealed by Laws 2015, ch. 11, 2.
(c) The state treasurer may contract for services to select an investment manager.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 7 - Investment of State Funds › Section 9-4-721 - Investment Funds Committee; Selection Panel.

9-4-721. Investment funds committee; selection panel.
(a) There is created the selection panel to appoint voting members to the investment funds committee as provided in W.S. 9-4-720. The panel consists of five (5) members composed of one (1) member appointed by each of the members of the board. Each selection panel member shall possess financial knowledge and experience to qualify them for the position. Once appointed, a selection panel member shall serve for the term of office of the board member who appointed them but may be removed by the appointing board member. Upon the temporary appointment or election of a board member or upon a vacancy by the selection panel member that the board member is responsible for appointing, the board member shall appoint a selection panel member not later than sixty (60) days after assuming the office for which the board member was appointed or elected.
(b) The selection panel shall elect a chairman from among its members. The selection panel shall research and interview candidates for the investment funds committee. The selection panel shall solicit nominations for candidates for the investment funds committee from the state treasurer's office, other members of the investment funds committee, other appropriate entities and the board. Interested persons may apply directly to the panel. A member of the selection panel who seeks to be a candidate for the investment funds committee shall resign from the selection panel before seeking a nomination to the investment funds committee.
(c) No candidate shall be appointed by the selection panel to the investment funds committee unless the candidate has all of the following qualifications:
(i) Not less than seven (7) years of institutional investment experience involved in the management of a portfolio in excess of five hundred million dollars ($500,000,000.00);
(ii) A broad understanding of financial markets;
(iii) Not been convicted of or pleads guilty or nolo contendere to a felony violation or been the subject of any disciplinary action involving moral turpitude;
(iv) No conflicts of interest that would lead to a violation of W.S. 6-5-106, 6-5-118, 16-6-118 or other comparable provision of law.
(d) Staff and support for the selection panel shall be provided by the office of the state treasurer. Members of the panel who are not employees or elected officials of the state of Wyoming shall receive per diem and travel expense reimbursement in the manner and amount prescribed for legislators under W.S. 28-5-101.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-801 - Board of Deposits; Creation; Composition; Records; Meetings; General Duties.

9-4-801. Board of deposits; creation; composition; records; meetings; general duties.
The state loan and investment board is established as and shall perform the duties of the board of deposits. The governor is the chairman of the board and the state treasurer is the secretary of the board for the purpose of performing the duties of the board of deposits. The records of the board of deposits kept by the secretary, or a duly certified copy thereof, are prima facie evidence of any action of the board. The board of deposits shall meet quarterly each year, or at any other time, upon the call of the chairman. The board shall designate banks within this state eligible as state depositories for the purpose of receiving on deposit funds of this state.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-802 - Board of Deposits; Application; Designation of Depositories; Revocation of Designation.

9-4-802. Board of deposits; application; designation of depositories; revocation of designation.
A bank applying to be a state depository shall file a written application with the secretary of the board of deposits. The application shall be accompanied by a sworn statement of the financial condition of the bank at the time the application is made and a certified resolution providing proper authority of the depository. The secretary of the board of deposits shall review all applications, prepare a recommendation regarding each, and submit a list of all applicants and his recommendations to the board. The secretary of the board shall prepare a list of all financial institutions of the state which are approved by the board to be depositories. The chairman and the secretary of the board shall certify the list to the bank collateral officer who is designated by the state treasurer. Once the bank collateral officer is designated, the state treasurer shall provide a written order to the bank declaring it a state depository until its authority is revoked by the board. Each year, designated state depositories shall submit a current statement of condition, a certified copy of a resolution indicating its authority to act as a state depository has not been revoked and any other information the secretary of the board deems necessary. If, at any time state funds are on deposit with a state depository, a state depository is subject to any public enforcement action by any federal or state regulatory entity, the state depository shall notify the secretary of the board of the regulatory action if the action is not confidential. The board may revoke a bank's designation as a state depository at any time except that no time deposit, open account shall be withdrawn from a state depository prior to the date of maturity without providing forty-five (45) days prior written notice, absent a default by the state depository.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-803 - Deposit of State Money in Approved Depositories; Authority of Treasurer; Rulemaking.

9-4-803. Deposit of state money in approved depositories; authority of treasurer; rulemaking.
(a) The state treasurer may deposit any portion of the public monies in his possession in any bank chartered under the laws of the United States or under the law of any state if the bank is conducting business in Wyoming and has been approved under W.S. 9-4-801 through 9-4-818 by the board of deposits. As used in W.S. 9-4-801 through 9-4-818, "bank" includes federal and state savings and loan associations. Federal and state savings and loan associations may be designated as depositories for state funds in the same manner as state and national banks.
(b) The state treasurer may promulgate necessary rules and regulations for the implementation of the approved state depository and time deposit, open account programs.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-804 - Deposit of State Money in Approved Depositories; Required Security; Contents and Form of Surety Bond; Definitions.

9-4-804. Deposit of state money in approved depositories; required security; contents and form of surety bond; definitions.
(a) Except as otherwise provided in W.S. 9-4-801 through 9-4-815, for the security of state funds, the state treasurer shall require all state depositories to deposit securities of the kind and character described in W.S. 9-4-801 through 9-4-815, or to furnish a surety bond, that meets the requirements of W.S. 9-4-801 through 9-4-815, for the payment of the deposits and interest thereon. Depositories which provide securities as collateral shall provide a report to the state treasurer semiannually in March and September regarding the current balance of and validity of securities so provided for verification by the state treasurer. Surety bonds, when given, shall run to the state of Wyoming, and together with the securities offered shall be approved by the state treasurer. At each quarterly meeting of the state board of deposits, the state treasurer shall provide a report to the board indicating the extent to which state depositories have provided surety bonds or other security in compliance with W.S. 9-4-801 through 9-4-815.
(b) Surety bonds shall:
(i) Be conditioned:
(A) For the payment of the deposit and the interest thereon, as provided in W.S. 9-4-801 through 9-4-815; and
(B) That the depository do and perform whatever may be required by law for a faithful discharge of the trust reposed in the depository.
(ii) Contain the further obligation to settle with and pay to the state treasurer, for the use of the state, interest upon daily balance on the deposits, at the agreed upon rate, which shall not be less than the minimum rate fixed by the board of deposits, payable quarterly on the first business day of January, April, July and October in each year, or when the account is closed. As used in W.S. 9-4-801 through 9-4-815, "business day" means any day other than a Saturday, Sunday, a bank holiday in the state or other day that is considered a holiday for the employees of the state.
(c) Surety bonds provided under this section shall:
(i) Be approved as to form and substance by the attorney general; and
(ii) Be issued by a surety company which:
(A) Is authorized to transact the business of a surety in this state; and
(B) Is rated within the top two (2) ratings by A.M. Best, or has an equivalent rating.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-805 - Deposit of State Money in Approved Depositories; Other Acceptable Security.

9-4-805. Deposit of state money in approved depositories; other acceptable security.
Instead of furnishing a surety bond as security for the deposits, a depository may pledge any bonds, debentures and other securities in which the state treasurer may by law invest and in an amount equal, at least, to the maximum amount of money at any time to be deposited with the bank. The bonds, debentures and other securities so pledged shall have a market value at least equal to the amount of the deposit. In addition, any depository may furnish as security for the deposit letters of credit issued by any Federal Home Loan Bank in such form as approved by the state treasurer of Wyoming or pledge conventional first mortgages of Wyoming real estate and notes connected with the mortgages at a ratio of one and one-half to one (1.5:1) of the value of public funds secured by them. A pledge of collateral as security for the deposit of public funds shall be accompanied by a written assignment from the depository vesting legal title thereto to the state and by any other instruments required by the state treasurer. The assignment shall provide that the depository shall pay over deposited public funds and accrued interest thereon to the state treasurer, or his authorized deputy, upon check, order or demand in accordance with this article. The assignment shall also provide that the state has the authority, if the depository defaults, to sell all collateral necessary to realize the full amount of deposited public funds and interest accrued thereon. The interest on bonds, debentures and other securities, so pledged, when paid shall be remitted to the bank so pledging them, as long as it is not in default.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-807 - Deposit of State Money in Approved Depositories; Federal Insurance; Security for Deposits Not Covered.

9-4-807. Deposit of state money in approved depositories; federal insurance; security for deposits not covered.
Any properly designated depository of the public funds of the state, or of any political subdivision thereof, which is entitled to the benefits of deposit insurance provided for by the Federal Deposit Insurance Corporation and the acts of congress relating thereto, shall give and at all times maintain security for the prompt payment and the safekeeping of the whole amount of any such deposit. The deposit insurance provided by the Federal Deposit Insurance Corporation is eligible as the security required for the portion of any deposit that is insured by the corporation, and constitutes all of the security required for the portion. Any portion of the deposit as is not so insured shall be secured by depository bond or approved collateral securities as required by law.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-808 - Deposit of State Money in Approved Depositories; Responsibility for Collateral.

9-4-808. Deposit of state money in approved depositories; responsibility for collateral.
(a) The state of Wyoming, or any political subdivision thereof, which deposits through its treasurer, or other representative, public funds in any designated depository in the state of Wyoming, receiving therefor collateral security, is responsible to the depository for the collateral.
(b) In the event of loss of the collateral, the state or any political subdivision thereof, shall repay to the depository the value and accrued interest of the collateral.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-809 - "Time Deposit, Open Account"; Definition.

9-4-809. "Time deposit, open account"; definition.
As used in W.S. 9-4-809 through 9-4-812 and 9-4-817 "time deposit, open account" means a deposit, other than a "time certificate of deposit" or a "savings deposit", with respect to which "time deposit, open account" there is in force a written contract between the depositor and the depository bank that neither the whole or any part of the deposit may be withdrawn by the depositor, by check or otherwise, prior to the date of maturity or returned to the depositor by the depository, prior to the date of maturity, without written notice given not less than forty-five (45) days in advance of withdrawals or returns.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-810 - "Time Deposit, Open Account"; Rate of Interest on Public Funds.

9-4-810. "Time deposit, open account"; rate of interest on public funds.
Quarterly each year, taking into consideration all information before it, the board of deposits shall fix the minimum rate of interest to be paid on time deposit, open account. Time deposits shall be at the minimum rate of interest as fixed by the board or at such higher rate as agreed to by the depository bank. The minimum rate shall go into effect on the first day of April, July, October and January following as the case may be, and the rate shall not be changed for three (3) months.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-811 - "Time Deposit, Open Account"; Payment of Interest; Accounts of Monies.

9-4-811. "Time deposit, open account"; payment of interest; accounts of monies.
Interest paid by banks on public funds on time deposit, open account shall be paid to the state treasurer quarterly on the first business day of January, April, July and October as required by the state treasurer. The state treasurer shall require, and every depository shall keep accurate accounts of all monies deposited with it, showing the amounts deposited and when deposited.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-812 - Withdrawals of State Funds; Liability of Treasurer for Money or Bond Loss.

9-4-812. Withdrawals of state funds; liability of treasurer for money or bond loss.
The state treasurer or his authorized deputy may withdraw any and all funds deposited for the purpose of paying the appropriations and obligations of the state as lawfully required or whenever he deems it advisable or to the interests of the state to do so except funds deposited as time deposit, open account shall require notice in advance of withdrawal as specified in W.S. 9-4-809. The state treasurer and his sureties are responsible for the faithful performance of the duties of the treasurer under the law, and for a proper accounting and turning over to his successor of all monies paid to the treasurer as such but he shall not be held personally liable for any monies that may be lost by reason of the failure or insolvency of any bank selected as a state depository nor for the deficiency or loss upon any surety bond or securities deposited by any bank, if the surety bond or securities were placed according to law, unless the loss could have been avoided by the exercise of reasonable care and diligence on the part of the treasurer or his deputy, in which case the treasurer is liable to the state for the loss.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-814 - Sale of Collateral.

9-4-814. Sale of collateral.
The state treasurer may sell any or all collateral that may be pledged as security for the deposit of any state funds in any depository under this act, at public or private sale, whenever there shall be a failure or refusal upon the part of any state depository, to pay over the funds, or any part thereof or interest thereon, upon the demand or order of the state treasurer, or his authorized deputy on the state depository. Notice of the sale of collateral given as security for deposits is required only if the state treasurer finds that the collateral is illiquid. If notice is required, it shall be given by publication once each week for three (3) consecutive weeks in a newspaper of general circulation in the county or counties in which real estate, in the case of mortgages, or the local governments, in the case of local government bonds, are located. When a sale of collateral is made by the state treasurer, either at public or private sale, and the collateral has been transferred by the chairman and secretary of the board of deposits, the absolute ownership of the collateral shall vest in the purchasers, upon the payment of the purchase money to the state treasurer. Should there be any surplus after paying the amount due the state and expenses of sale, it shall be paid to the state depository which made the pledge of the collateral.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-815 - Recovery of Penalties on Bonds.

9-4-815. Recovery of penalties on bonds.
It shall be the duty of the attorney general of the state to enter and prosecute, in the name of the state, to final determination, all suits for the recovery of any penalty arising under the conditions of any bond, securities or mortgages and notes connected with the mortgages given, or required to be given under this act to the state of Wyoming.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-816 - Deposits by Political Subdivisions; "Proper Governing Board" Defined.

9-4-816. Deposits by political subdivisions; "proper governing board" defined.
(a) As used in W.S. 9-4-817 through 9-4-831 "proper governing board" means:
(i) When applied to the deposit of county funds, the board of county commissioners of the county;
(ii) When applied to the deposit of the funds of a city or town, the mayor and council of the city or town;
(iii) When applied to the deposit of school district funds, the board of trustees of the school district;
(iv) When applied to the deposit of irrigation district funds, the board of commissioners of the irrigation district; and
(v) When applied to drainage district funds, the board of commissioners of the drainage district.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-817 - Deposits by Political Subdivisions; Selected Institutions; Security; Withdrawals.

9-4-817. Deposits by political subdivisions; selected institutions; security; withdrawals.
(a) To the extent they are not otherwise invested, the monies collected and held by a treasurer of a political subdivision, municipality or special district within this state shall be deposited in banks which qualify as depositories for public monies as specified in W.S. 9-4-803(a).
(i) Repealed by Laws 2017, ch. 98, 2.
(ii) Repealed by Laws 2017, ch. 98, 2.
(iii) Repealed by Laws 2017, ch. 98, 2.
(iv) Repealed by Laws 2017, ch. 98, 2.
(b) In depositing the monies in the financial institutions authorized by subsection (a) of this section, the treasurer shall select the institution:
(i) Repealed By Laws 1996, ch. 112, 3.
(ii) Designated as a depository by the proper governing board.
(c) The deposits made pursuant to this section shall be made to the extent that they are:
(i) Fully insured by the Federal Deposit Insurance Corporation; or
(ii) Secured, in accordance with this article, by a pledge of collateral or the furnishing of a surety bond.
(d) Any bank, savings and loan association or federal savings bank, located in the state, may apply to keep the monies upon the following conditions:
(i) All deposits are subject to payment when demanded by the proper treasurer on his check, order or demand, except that all funds deposited on time deposit, open account shall be withdrawable, under W.S. 9-4-809;
(ii) All funds deposited in a savings deposit account shall be withdrawable upon demand provided that the bank or savings and loan association may at any time require giving of notice in writing of an intended withdrawal of thirty (30) days before a withdrawal is made;
(iii) Interest shall be paid upon the amount deposited which constitutes a time deposit, open account;
(iv) All deposits are also subject to regulations imposed by law.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-818 - Deposits by Political Subdivisions; Applications By, and Approval Of, Banks; Rate of Interest; Defaults.

9-4-818. Deposits by political subdivisions; applications by, and approval of, banks; rate of interest; defaults.
(a) Applications by banks and savings and loan associations shall be submitted to the proper governing board and shall be acted upon by the proper governing board as soon thereafter as practicable. Prior to the deposit, the board shall negotiate the rate of interest applicable to the deposit. No monies shall be deposited by any treasurer except in banks and savings and loan associations which have been approved by the proper governing board.
(b) If any depository defaults, the treasurer for the local government may sell any or all collateral that is pledged as security for the deposit of public funds in the depository at public or private sale. Notice of the sale of the collateral is required only if the treasurer determines that the collateral is illiquid. If notice is required, it shall be given by publication in a newspaper of general circulation in the county or counties in which real estate, in the case of mortgages, or local governments, in the case of local government bonds, are located, once each week for three (3) consecutive weeks.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-820 - Deposits by Political Subdivisions; Surety Bonds for Security; Out-of-County Banks.

9-4-820. Deposits by political subdivisions; surety bonds for security; out-of-county banks.
(a) For the security of the funds deposited the proper treasurer shall require all depositories to give surety bonds for the safekeeping and payment of deposits of public monies and the interest thereon, which bonds shall:
(i) Run to the proper county, city, town or school district;
(ii) Be approved as to form and substance by the proper governing board and legal counsel; and
(iii) Be conditioned:
(A) That the depository shall on the first Monday of January, April, July and October of each year, render to the proper treasurer, and to the proper governing board a statement in duplicate, showing the several daily balances and the amount of public monies held by it during the preceding three (3) months, and the amount of the interest thereon, and how credited; and
(B) For the payment of the deposits, and the interest accrued thereon when demanded by the proper treasurer on his check, order or demand at any time.
(b) The surety bond in form and substance shall be similar, or as near as may be, to the surety bonds required of state depositories and shall conform with W.S. 9-4-804(c).
(c) The bonds shall be issued and placed with the clerk of the county, city, town or school district to which the bond is given.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-824 - Liability of Local Treasurers for Money Loss; Power to Withdraw Funds.

9-4-824. Liability of local treasurers for money loss; power to withdraw funds.
No county, city, town, school district, irrigation district or drainage district treasurer is liable on his official bond for money on deposit in any bank under and by direction of the proper legal authority and in conformity with law if the bank has given bond which has been approved as herein provided, except in cases where any loss could have been prevented by the exercise of reasonable care on the part of the treasurer. The proper treasurer may withdraw any or all funds by him deposited in depositories whenever he deems it advisable or to the interests of the public which he represents, or to pay out money as by law required.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-825 - Joint Custody Agreement for Securing Local Deposits; Banks Authorized to Receive Collateral.

9-4-825. Joint custody agreement for securing local deposits; banks authorized to receive collateral.
Any properly designated depository of the public funds of the state or any political subdivision thereof, and any treasurer of any proper governing board may agree, as an alternate method of securing the deposit of public funds, to place the collateral security in any financial institution, as defined in W.S. 13-1-101(a)(ix) and other than the depository bank, chartered as a state bank or in any national bank other than the depository bank, in any federal reserve bank or branch thereof, in any bank which is a member of the federal reserve system or in any government-sponsored enterprise. The financial institution receiving the collateral security shall be known as the custodian.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-826 - Joint Custody Agreement for Securing Local Deposits; Placement of Security With Custodian; Receipt as Evidence of Deposit.

9-4-826. Joint custody agreement for securing local deposits; placement of security with custodian; receipt as evidence of deposit.
At the request of the treasurer of the proper governing board, the designated depository shall place the security to be furnished as collateral for the deposit with the custodian agreed upon by the treasurer of the governing board and the depository bank. A joint custody trust receipt is the evidence of the deposit of the collateral security.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-827 - Joint Custody Agreement for Securing Local Deposits; Form for Receipts.

9-4-827. Joint custody agreement for securing local deposits; form for receipts.
(a) The joint custody trust receipt of the federal reserve bank of Kansas City or its branches may be in the form adopted and used by the federal reserve bank.
(b) Joint custody trust receipts issued by other banks shall be:
(i) In a form acceptable to the state treasurer or treasurer of the appropriate political subdivision; or
(ii) In substantially the following form:
JOINT CUSTODY RECEIPT
(Name, address of issuer of the Joint Custody Receipt) hereinafter called the custodian, has received to be held in safekeeping subject to the joint order
(Name of Treasurer and official title) hereinafter called the Treasurer and
(Name of depository bank) hereinafter called the Depository Bank the following described securities:
Following and Subsequent
Description coupon attached Par Value
Mo. Day Year
Total par value (in writing and figures $ )
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-828 - Joint Custody Agreement for Securing Local Deposits; Execution and Contents of Agreement.

9-4-828. Joint custody agreement for securing local deposits; execution and contents of agreement.
(a) The joint custody agreement shall be executed by the custodian, the depository bank and the treasurer of the proper governing board and shall:
(i) Contain the following provisions:
(A) The custodian will detach as they mature and enter for collection the coupons from the securities and the proceeds when collected will be credited to the account of the depository bank unless otherwise ordered by the treasurer;
(B) The custodian will enter matured principal for collection and hold the proceeds when collected subject to the joint order of the treasurer and depository bank;
(C) It is understood by the treasurer and depository bank that the custodian assumes no responsibility for the nonpayment of interest or principal nor for the validity, genuineness or enforceability of any of the securities deposited in safekeeping hereunder nor makes any representation or warranties expressed or implied, as to the value or worth thereof, nor for the giving of notice of maturity, calls for redemption or the exercise of any rights, priorities, privileges of exchange or conversion or for the timely presentation of maturing principal or interest of any securities deposited under this agreement;
(D) The custodian assumes no responsibility with respect to the safekeeping and condition of deposited property beyond the care and custody it gives its own securities held on its own premises. Any and all forms of protective insurance are to be furnished by the treasurer and depository bank at their option and expense. The custodian is not required to furnish any form of protective insurance; and
(E) The custodian shall deliver the securities to the treasurer upon the sole order of the treasurer when supported by a verified certificate of the state banking commissioner certifying under seal that the depository bank has failed or refused to pay all or a portion of the deposit due the treasurer by the depository bank and that under the terms of the pledge agreement executed by the depository bank the treasurer is entitled to delivery of the securities described in this receipt or the proceeds thereof. Otherwise the securities shall be delivered only upon the written joint order and instructions of the treasurer and depository bank; or
(ii) Be in a form and contain provisions as required by the state treasurer or the treasurer of the proper governing board.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 8 - Deposits and Depositories › Section 9-4-829 - Unauthorized Use of Monies.

9-4-829. Unauthorized use of monies.
The state treasurer, the treasurer of any county, city, town or school district or any other public officer or employee having in his custody or under his control any public monies, who makes a profit, directly or indirectly, by loaning or depositing the monies contrary to law or who uses public monies for any purpose not authorized by law, is guilty of a felony punishable by imprisonment for not more than two (2) years, a fine of not more than five thousand dollars ($5,000.00), or both and may be removed from office.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 9 - Refunding Bonds › Section 9-4-901 - Issuance; Principal Amount.

9-4-901. Issuance; principal amount.
Whenever the state of Wyoming has outstanding bonds which are redeemable by their terms or which may be redeemed with the consent of the holders thereof, the governor, with the approval of the state treasurer and attorney general, may issue refunding bonds of the state of Wyoming to be designated "State of Wyoming Refunding Bonds, Series (year)", in a principal amount not exceeding the principal amount of the bonds to be refunded.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 9 - Refunding Bonds › Section 9-4-902 - Interest Rate; Maturity; Form; Record.

9-4-902. Interest rate; maturity; form; record.
(a) If bonds are issued to refund bonds which are redeemable, the interest rate thereon shall be lower than the rate on the bonds to be refunded. If bonds are issued to refund bonds prior to their redeemable date, the interest rate thereon shall not be greater than that of the outstanding bonds to the redemption date, after which time the interest rate on refunding bonds shall be lower than the rate on the bonds to be refunded.
(b) State refunding bonds shall mature serially, either annually or semiannually, in amounts determined by the governor, state treasurer and attorney general. The first maturity shall be not later than three (3) years and the last maturity not later than fifteen (15) years after the date of the bonds. Principal and interest shall be payable in lawful money of the United States of America at the office of the state treasurer and at other places designated in the bonds. Bonds shall be issued in the denomination of one thousand dollars ($1,000.00) or some multiple thereof and shall be signed by the governor, attested by the secretary of state under the seal of the state, and countersigned by the state treasurer. Semiannual interest coupons to be attached to the bonds shall bear the facsimile signature of the state treasurer. The proceedings for the issuance and the form of the bonds shall be approved by the attorney general, and each bond shall have endorsed thereon a certificate signed by the auditor and secretary of state that the bond is issued pursuant to law and is within the debt limit. Refunding bonds shall be numbered from one (1) upward, and shall be paid in that order. The state treasurer shall keep a record of all bonds issued hereunder in a book to be kept in his office for that purpose.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 9 - Refunding Bonds › Section 9-4-903 - Sale or Exchange; Price; Application of Proceeds.

9-4-903. Sale or exchange; price; application of proceeds.
The governor and state treasurer may sell refunding bonds at a price not less than the par value thereof and shall apply the proceeds thereof solely to the payment of a like amount of the bonds to be refunded or refunding bonds may be exchanged for a like amount of outstanding bonds. Refunding bonds may be sold or exchanged all at one time, or singly, or in blocks from time to time as determined by the governor and state treasurer, but they shall not be issued unless and until a like amount of outstanding bonds can be paid, redeemed and cancelled.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 9 - Refunding Bonds › Section 9-4-904 - Tax Levy to Pay Principal and Interest.

9-4-904. Tax levy to pay principal and interest.
The state board of equalization shall, each year at the time of making the annual levy for state purposes, direct the boards of county commissioners of the several counties of the state to levy upon all taxable property therein a tax, which, with other funds available for the purpose, is sufficient to pay the principal of and the interest on refunding bonds as the bonds respectively become due and payable. The tax shall be payable in cash, and when paid shall be remitted to the state treasurer to be credited to the debt service fund for the purpose of paying the principal of and the interest on the refunding bonds.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 11 - Tax and Revenue Anticipation Notes › Section 9-4-1101 - Definitions.

9-4-1101. Definitions.
(a) As used in this act:
(i) "Revenues" means any income or other receipts duly credited to any fund of the state during any fiscal year from any source, including but not limited to income and receipts from taxes, distributions or grants from any other public entity or the federal government and income or receipts from investment of those funds, but excluding the proceeds of any borrowing;
(ii) "This act" means 9-4-1101 through 9-4-1105.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 11 - Tax and Revenue Anticipation Notes › Section 9-4-1102 - Authority.

9-4-1102. Authority.
(a) The state treasurer may, with the approval of the governor and the attorney general, issue tax and revenue anticipation notes and interest coupons pertaining to those notes when he determines that as part of the state's investment management program it is prudent to do so to avoid liquidation of investments on terms unfavorable to the state to meet short term cash requirements.
(b) The principal amount of notes issued and outstanding at any time under subsection (a) of this section shall be limited to three hundred million dollars ($300,000,000.00) but not to exceed the amount of revenue anticipated to be received during the applicable fiscal year and pledged for the repayment of the notes.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 11 - Tax and Revenue Anticipation Notes › Section 9-4-1103 - Payment From Anticipated Revenues; Notes Do Not Constitute Indebtedness.

9-4-1103. Payment from anticipated revenues; notes do not constitute indebtedness.
(a) Tax and revenue anticipation notes issued under W.S. 9-4-1102 shall be payable solely from those revenues anticipated to be but not yet received and credited to the specified funds or accounts for the fiscal year in which the notes are issued. Each issue of tax and revenue anticipation notes and interest coupons pertaining to those notes, if any, shall mature in the fiscal year issued. The owners or holders of the notes shall not look to any other source for payment of the principal of or any premium or interest on the notes.
(b) Tax and revenue anticipation notes issued under W.S. 9-4-1102 do not constitute an indebtedness or debt within the meaning of the Wyoming constitution, article 16.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 11 - Tax and Revenue Anticipation Notes › Section 9-4-1104 - Terms and Conditions of Issuance.

9-4-1104. Terms and conditions of issuance.
(a) Tax and revenue anticipation notes:
(i) Shall be issued in a form consistent with the provisions of this act;
(ii) Shall describe the fund or account and the revenue from which the notes are payable;
(iii) Shall bear interest at a rate or rates determined by the state treasurer to be for the best advantage of the state and which shall be set forth in the note; and
(iv) May be redeemable or payable prior to maturity at a time and upon payment of premiums, if any, determined by the state treasurer to be for the best advantage of the state and which shall be set forth in the note.
(b) In connection with the issuance of any notes, the state treasurer may create accounts within any fund as necessary or convenient for the segregation of note proceeds and investment income from the notes. In connection with the issuance of any notes, the state treasurer may make customary covenants on behalf of the state as necessary to secure the notes. Tax and revenue anticipation notes issued under W.S. 9-4-1102 and interest coupons pertaining to these notes shall be executed by the manual or facsimile signature of the state treasurer. The notes shall set forth provisions made under this subsection for the note's security.
(c) When there is an issuance of tax and revenue anticipation notes under W.S. 9-4-1102, the state treasurer shall determine and specify:
(i) The denomination of each issuance;
(ii) The date of issuance;
(iii) The date of maturity which shall be on or before the last day of the fiscal year;
(iv) Maturity amounts;
(v) The interest rate;
(vi) The form and execution of the notes;
(vii) Payment of notes;
(viii) Terms of redemption with or without premium;
(ix) Terms of sale including whether the sale will be public or private;
(x) Such other terms and conditions as the state treasurer deems necessary or desirable.
2023 Wyoming Statutes › Title 9 - Administration of the Government › Chapter 4 - Public Funds › Article 11 - Tax and Revenue Anticipation Notes › Section 9-4-1105 - Investment of Proceeds; Investment Earnings.

9-4-1105. Investment of proceeds; investment earnings.
(a) The state treasurer may invest the proceeds of tax and revenue anticipation notes in any securities or investments authorized by law for funds of the state until necessary to meet the short term cash requirements under W.S. 9-4-1102(a).
(b) Notwithstanding any other provision of law, income from any investment under subsection (a) of this section shall be credited to the fund or account from which the notes are payable.