reglab/statecodes huggingface dataset:
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 5 - SMALL WATER DEVELOPMENT PROJECT LOANS › Section 5-4 - Application Procedure

Current through July 13, 2024
(a) Each
				prospective borrower shall submit a written loan application to the Office. The
				application shall include a proposed water development plan complete with
				design and cost estimates, the legal description of and evidence of water
				rights on the land to be developed, current financial statements including
				balance sheets, income and expense records and projections, and any other
				information the Board may require. A fee as established by the Board shall
				accompany all applications, and shall be returned if the application is
				withdrawn prior to a field appraisal being made.
(b) Timing. Loan applications must be
				received by the Director at least ninety (90) calendar days prior to any
				regularly scheduled meeting of the Board. Applicants must cure any defects in
				their application no later than forty-five (45) calendar days before any
				regularly scheduled meeting of the Board.
(c) The staff at the Office will review each
				application as to:
(i) The sufficiency of the
				water supply and the engineering and economic feasibility of the project.
				Advice from the Wyoming State Engineer, other State or Federal Agencies and/or
				individuals will be used as deemed appropriate;
(ii) All credit factors including, but not
				limited to, repayment ability, financial strength and stability, and adequacy
				of security offered. Credit standards shall be the same for small water project
				loans as for Farm Loans except for level of lending as specified under Section
				5(a) of this
				Chapter.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 5 - SMALL WATER DEVELOPMENT PROJECT LOANS › Section 5-5 - Loan Terms

Current through July 13, 2024
(a) Single loans or
				a combination of loans made to a single agricultural enterprise shall not
				exceed an outstanding principal balance of one hundred fifty thousand dollars
				($150,000.00), regardless of the identity of the applicants.
(b) Interest rates shall be pursuant to
				Chapter 14 of the rules as established by the Board.
(c) The term of the loan shall not exceed
				forty (40) years and may be for a shorter term as determined by financial
				strength, repayment ability, security, and other factors.
(d) Loans shall be repaid in equal
				installments. However, upon application of the borrower, the Board may provide
				for interest only during any period in which the governor has declared that a
				drought or other emergency exists in the state. Once the emergency is declared
				to be over, repayment is to be according to the original note. The loan
				maturity date will remain the same.
(e) Loan fees shall be pursuant to Chapter 14
				of the rules established by the Board.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 5 - SMALL WATER DEVELOPMENT PROJECT LOANS › Section 5-6 - Security

Current through July 13, 2024
(a) Security for
				loans may include, but is not limited to, first and/or second mortgage on
				agricultural real estate, the pledge and assignment of designated special
				property assessments within a district, and/or first lien on irrigation
				equipment and fixtures.
(b)
				Appraisals of offered security will be done by the Office.
(c) Every loan will be evidenced by a
				promissory note for the principal sum of the loan signed by the borrower(s).
				Notes executed by legal entities will also be signed and guaranteed by the
				individuals owning the majority of that entity or by any other individual
				deemed necessary by the Board.
(d)
				The borrower will provide title insurance for the amount of the loan, when
				necessary, for the benefit of the Board as mortgagee.
(e) Every mortgage shall provide a legal
				right of access to the Board and its agents for the purposes of inspection,
				maintenance, inventory, retrieval of personal property and fixtures, and
				foreclosure proceedings. Such right shall be assignable to the purchaser at any
				foreclosure sale.
(f) All loan
				documents including, but not limited to, notes, mortgage deeds, and security
				instruments shall be executed in the form and manner acceptable to the Wyoming
				Attorney General.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 5 - SMALL WATER DEVELOPMENT PROJECT LOANS › Section 5-7 - Disbursement of Loan Proceeds

Current through July 13, 2024
(a) After a loan
				has been approved, the borrower will be instructed to obtain short term
				financing and complete the irrigation development project. The short term
				lender will be instructed to comply with any construction contracts, maintain
				all vouchers and receipts, and disburse his proceeds in a proper manner. When
				the project is completed, an inspection will be done by the Office to insure
				that the project meets expectations. The loan closing will then be scheduled.
				State funds will be forwarded to the title insurance office with instructions
				to close the loan and pay off the short term lender.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 5 - SMALL WATER DEVELOPMENT PROJECT LOANS › Section 5-8 - Assumptions

Current through July 13, 2024
(a) When a borrower
				conveys legal or equitable title to property securing a loan, the purchaser may
				assume the repayment obligation to the Board if qualified under
				W.S.
				11-34-301 and Sections
				3 and
				4 of this Chapter. If the loan is not
				assumed by the purchaser, the loan shall be paid off in full at the time of the
				conveyance.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 5 - SMALL WATER DEVELOPMENT PROJECT LOANS › Section 5-9 - Partial Releases and Reamortizations

Current through July 13, 2024
(a) A borrower may
				request a partial release of land from the mortgage. Such requests shall be
				directed to the Office, and may be approved by the Board if the borrower
				demonstrates a prompt payment history, a sound financial statement, and the
				release of land would be in the best interest of the Board. Small Water
				Development Project Loans cannot be reamortized.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 5 - SMALL WATER DEVELOPMENT PROJECT LOANS › Section 5-10 - Defaults

Current through July 13, 2024
(a) If an annual
				payment is not received within thirty (30) calendar days of when due, the
				Office shall immediately notify the borrower of the default. The borrower shall
				have ninety (90) calendar days from the notice of the default to submit a
				repayment plan to the Office. Repayment plans shall include the following:
(i) The amounts and dates of payments that
				the borrower can make against the loan; and
(ii) Current financial and cash flow
				statements.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 5 - SMALL WATER DEVELOPMENT PROJECT LOANS › Section 5-11 - Leasing of Acquired Lands

Current through July 13, 2024
(a) Leasing
				procedure. The Board shall receive applications to lease acquired land for a
				period of twenty (20) calendar days after public notice is given of its intent
				to lease any property. Persons desiring to lease acquired lands shall submit to
				the Office a completed application in a sealed envelope, as provided by the
				Office. Applications offering cash rental shall be accompanied by a cashiers
				check or money order in the amount of the offer.
(b) Board's decision. The Board shall
				consider all aspects of the offers received and award the lease to the
				applicant whose offer would be most advantageous to the Board. The Board may
				reject any or all applications. Monies tendered by unsuccessful applicants for
				their rental offer shall be returned.
(c) Term. The term of the lease shall be set
				by the Board on a case-by-case basis, except that the term of a lease of land
				which is subject to a right of redemption shall not exceed the expiration of
				the redemption periods created by
				W.S.
				1-18-103 and
				W.S.
				1-18-104. If the redemption period will
				expire at an inopportune time during the growing season, the Board may extend
				the lease term until a more convenient time in the growing season.
(d) Transfers. No lease granted under this
				section may be assigned or subleased without the approval of the
				Board.
(e) Reservation prohibited.
				A lease of acquired lands shall not contain a reservation of public hunting and
				fishing privileges.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 5 - SMALL WATER DEVELOPMENT PROJECT LOANS › Section 5-12 - Sale of Acquired Lands

Current through July 13, 2024
(a) Decision to
				sell. The Board shall sell acquired lands upon determination that the sale of
				the property would be the best means of restoring loan funds.
(b) Advertisement. All sales of acquired
				lands shall be advertised at least once per week, for four consecutive weeks,
				in both a newspaper in the county in which the property is located and a
				newspaper of statewide circulation.
(c) Auctions. All sales shall be by public
				auction, conducted by the Director or his representative. The minimum bid shall
				be as set by the Board. The Board reserves the right to reject any and all
				bids. The successful bidder must tender at least thirty percent (30%) of the
				purchase price, in the form of a cashier's check, or personal check with a
				letter of check guarantee, at the auction. Within ten (10) calendar days of the
				auction, the purchaser shall either pay the balance of the purchase price or,
				if eligible, enter into a sales contract pursuant to subsection (e) of this
				section.
(d) Title Insurance. The
				Office will order an open title insurance commitment. The purchaser of the
				property shall pay the cost of the commitment and title insurance.
(e) Sales Contracts.
(i) Amortized Sales Contracts, as described
				in this section, may be offered at the Board's discretion.
(ii) Eligibility. Any individual or legal
				entity that was the mortgagor when the land was acquired by the Board shall not
				be eligible to enter into a sales contract for the purchase of that acquired
				land.
(iii) Terms. Eligible
				purchasers may pay the balance of the purchase price pursuant to a sales
				contract with the following terms:
(A) The
				length of the contract shall not exceed thirty years (30) years; and
(B) The contract interest rate shall be
				pursuant to Chapter 14 of the rules as established by the Board.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 5 - SMALL WATER DEVELOPMENT PROJECT LOANS › Section 5-13 - Sale of Acquired Personal Property

Current through July 13, 2024
(a) The Board
				hereby delegates to the Director the authority to sell, by public auction,
				sealed bid, or negotiated sale, any personal property acquired through
				foreclosure, repossession, or surrender. The Director shall report all sales of
				personal property to the Board at its next regular meeting.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 5 - SMALL WATER DEVELOPMENT PROJECT LOANS › Section 5-14 - Sale of Acquired Personal Property

Current through July 13, 2024
(a) The Board
				hereby delegates to the Director the authority to sell, by public auction,
				sealed bid, or negotiated sale, any personal property acquired through
				foreclosure, repossession, or surrender. The Director shall report all sales of
				personal property to the Board at its next regular meeting.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 7 - FARM LOANS › Section 7-2 - Definitions

Current through July 13, 2024
In addition to the definitions in Chapter 1, as used in this
				  Chapter:
(a) "Acquired lands" means
				lands to which the Board has acquired legal or equitable title through
				foreclosure or by other means.
(b)
				"Agricultural products" means typical crops produced from the cultivation and
				management of the soil.
(c)
				"Beginning Agricultural Producer" means an individual or entity that has never
				owned more than 320 acres of cultivated irrigated land, or 640 acres of
				cultivated dry crop land, or 1,280 acres of grazing land unless such land was
				acquired within the last two (2) years; has adequate working capital;
				substantially participates in the operation; and meets all eligibility
				requirements provided for in this Chapter.
(d) "Legal entity" means corporations,
				limited partnerships, general partnerships, limited liability companies, trusts
				and other organizations or business entities recognized by the State of
				Wyoming.
(e) "Livestock" means
				horses, cattle, buffalo, sheep, swine and yaks.
(f) "Single agricultural enterprise" means an
				agricultural operation managed as one business.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 7 - FARM LOANS › Section 7-3 - General Policy

Current through July 13, 2024
(a) Farm loans
				shall be made in such a manner and to such parties as shall, in the judgment of
				the Board, inure to the greatest benefit of the state and represent a wise
				investment of state funds. It is not intended to benefit investors or
				developers.
(b) The Beginning
				Agriculture Producer loan program is intended to help beginning farmers or
				ranchers get into a production agriculture business. It is not intended to
				benefit investors or developers.
(c) All loans are to be fully amortized over
				the term of the loan.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 7 - FARM LOANS › Section 7-4 - Eligible Applicants

Current through July 13, 2024
(a) Individuals, to
				be eligible applicants, must be able to demonstrate compliance with
				W.S.
				11-34-110(b).
(b) Legal entities, to be eligible
				applicants, must be able to demonstrate that a majority of the ownership is by
				individuals who are eligible applicants under subsection (a).
(c) If the applicant for a Beginning
				Agricultural Producer loan is a legal entity, all owners must be eligible
				Beginning Agricultural Producers.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 7 - FARM LOANS › Section 7-5 - Eligible Purposes

Current through July 13, 2024
(a) Loans may be
				made only for the following purposes:
(i) To
				purchase lands used principally for raising agricultural products, livestock,
				or dairying;
(ii) To purchase
				livestock, fertilizers, and equipment calculated to maintain or increase the
				earning capacity of the borrower's agricultural operation;
(iii) To purchase, construct, or install
				improvements calculated to maintain or increase the earning capacity of the
				borrower's agricultural operation; or
(iv) To liquidate debts of the borrower
				incurred in the furtherance of the borrower's agricultural operation;
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 7 - FARM LOANS › Section 7-6 - Application Procedure

Current through July 13, 2024
(a) Applications.
(i) Each prospective borrower shall submit a
				written loan application, on the form furnished by the Office and copies of
				filed tax returns for the preceding three (3) years. The borrower shall also
				submit an executed purchase agreement, if loan funds will be used to purchase
				land.
(A) If a prospective borrower is going
				to rely on borrowing agricultural equipment from a third party in their
				agricultural operation, a signed affidavit defining the equipment, usage, and
				term of the equipment use agreement shall be submitted with the
				application.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 7 - FARM LOANS › Section 7-7 - Loan Terms

Current through July 13, 2024
(a) Amount. Single
				loans or a combination of loans made to a single agricultural enterprise shall
				be made pursuant to
				W.S.
				11-34-115.
(b) Interest rate. The interest rate for
				loans under this Chapter shall be pursuant to Chapter 14 of the rules as
				established by the Board.
(c)
				Length. The term of each loan shall be set by the Board with due regard given
				to repayment ability and the security offered, but in no event shall the term
				exceed thirty (30) years.
(d)
				Repayment. All loans shall be fully amortized over the term of the
				loan.
(e) Loan fees shall be
				pursuant to Chapter 14 of the rules as established by the Board.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 7 - FARM LOANS › Section 7-8 - Security

Current through July 13, 2024
(a) Every loan
				shall be evidenced by a promissory note for the principal sum of the
				loan.
(b) Farm loans and Beginning
				Agricultural Producer loans shall be secured by a first mortgage upon farm or
				ranch land within Wyoming of sufficient value to secure the loan. Proof of
				merchantable title must be provided by the borrower in the form of title
				insurance naming the Board as beneficiary. Farm loans may not exceed 60% of
				appraised value and Beginning Agricultural Producer loans may not exceed 70% of
				appraised value.
(c) An appraisal
				shall be prepared for the Board. Appraisals shall reflect the current
				agricultural market value of the land to be mortgaged.
(d) The Board shall take a Uniform Commercial
				Code (UCC) security agreement on all irrigation equipment located on the lands
				being offered for security.
(e) The
				Board shall take security interests in secure leaseholds, reservoir company
				stock, and grazing association stock whenever necessary to protect the value of
				the lands being offered for security as an agricultural operation.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 7 - FARM LOANS › Section 7-9 - Costs to Be Paid by the Borrower

Current through July 13, 2024
(a) The following
				costs shall be the sole responsibility of the borrower:
(A) Title Insurance in the full amount of the
				mortgage, issued by a title insurance company authorized to do business in
				Wyoming;
(B) Fees associated with
				recording mortgage and other documents associated with the loan;
(C) An application fee of $100.00, as
				established by
				W.S.
				11-34-121.
(D) An origination fee equal to one percent
				(1%) of the loan amount, and
(E)
				For loans being requested to be reamortized, a fee pursuant to Chapter 14 of
				the rules as established by the Board.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 7 - FARM LOANS › Section 7-10 - Disbursement

Current through July 13, 2024
(a) The proceeds of
				a farm loan shall not be disbursed to the borrower until such time as the
				borrower can show a mature obligation, the satisfaction or partial satisfaction
				of which will result from the application of the loan proceeds. The borrower
				shall use the proceeds of any farm loan exclusively for the purpose or purposes
				set out in the application, and shall furnish evidence satisfactory to the
				Board to that effect.
(b) The
				Office shall inspect and verify any reports and records required by the Board
				and submitted by the borrower before proceeds shall be released for
				payment.
(c) Loan proceeds shall be
				disbursed at a closing when all loan documents shall be executed by the
				borrower. Documents executed on behalf of a legal entity shall be executed by
				persons authorized by that entity to borrow money and mortgage property.
				Officers or majority owners of legal entities shall also be personally liable
				for repayment of the loan.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 7 - FARM LOANS › Section 7-11 - Assumptions

Current through July 13, 2024
(a) When a borrower
				conveys legal or equitable title to property securing a farm loan, the
				purchaser may assume the repayment obligation to the Board if qualified under
				W.S.
				11-34-110 and Section
				4 of this Chapter. If the loan is not
				assumed by the purchaser, the loan shall be paid off in full at the time of the
				conveyance.
(b) Beginning
				Agricultural Producer loans may not be assumed.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 7 - FARM LOANS › Section 7-12 - Partial Releases

Current through July 13, 2024
(a) A borrower may
				request a partial release of land from the mortgage. Such requests shall be
				directed to the Office, and may be approved by the Board if the borrower
				demonstrates a prompt payment history, a sound financial statement, and the
				release of land would be in the best interest of the Board.
(b) For Beginning Agricultural Producer
				loans, no partial releases will be granted during the first ten (10) years of
				the loan term unless all of the sale proceeds or the appraised value of the
				land to be released is applied to the loan balance.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 7 - FARM LOANS › Section 7-13 - Reamortizations

Current through July 13, 2024
(a) A borrower
				requesting reamortization must provide current financial information and other
				documentation as requested by the Office and must show that reamortization will
				significantly improve the financial viability of his agricultural operation.
				Fees for reamortization shall be pursuant to Chapter 14 of the rules as
				established by the Board.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 7 - FARM LOANS › Section 7-14 - Defaults

Current through July 13, 2024
(a) If an annual
				payment is not received within thirty (30) calendar days of when due, the
				Office shall immediately notify the borrower of the default. The borrower shall
				have ninety (90) calendar days from the notice of the default to submit a
				repayment plan or a request to reamortize the outstanding loan balance to the
				Office.
(b) Repayment plans shall
				include the following:
(i) The amounts and
				dates of payments that the borrower can make against the loan; and
(ii) Current financial and cash flow
				statements as well as the prior two (2) years' tax returns.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 7 - FARM LOANS › Section 7-15 - Leasing of Acquired Lands

Current through July 13, 2024
(a) Leasing
				procedure. The Board shall receive applications to lease acquired land for a
				period of twenty (20) calendar days after public notice is given of its intent
				to lease any property. Persons desiring to lease acquired lands shall submit to
				the Office a completed application in a sealed envelope, as provided by the
				Office. Applications offering cash rental shall be accompanied by a cashier's
				check or money order in the amount of the offer.
(b) Board's decision. The Board shall
				consider all aspects of the offers received and award the lease to the
				applicant whose offer would be most advantageous to the Board. The Board may
				reject any or all applications. Monies tendered by unsuccessful applicants for
				their rental offer shall be returned.
(c) Term. The term of the lease shall be set
				by the Board on a case-by-case basis, except that the term of a lease of land
				which is subject to a right of redemption shall not exceed the expiration of
				the redemption periods created by
				W.S.
				1-18-103 and
				W.S.
				1-18-104. If the redemption period will
				expire at an inopportune time during the growing season, the Board may extend
				the lease term until a more convenient time in the growing season.
(d) Transfers. No lease granted under this
				section may be assigned or subleased without the approval of the
				Board.
(e) Reservation prohibited.
				A lease of acquired lands shall not contain a reservation of public hunting and
				fishing privileges.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 7 - FARM LOANS › Section 7-16 - Sale of Acquired Lands

Current through July 13, 2024
(a) Decision to
				sell. The Board shall sell acquired lands upon determination that the sale of
				the property would be the best means of restoring loan funds.
(b) Advertisement. All sales of acquired
				lands shall be advertised at least once per week, for four consecutive weeks,
				in both a newspaper in the county in which the property is located and a
				newspaper of statewide circulation.
(c) Auctions. All sales shall be by public
				auction, conducted by the Director or his representative. The minimum bid shall
				be as set by the Board. The Board reserves the right to reject any and all
				bids. The successful bidder must tender at least thirty percent (30%) of the
				purchase price, in the form of a cashier's check, or a personal check with a
				letter of check guarantee, at the auction. Within ten (10) calendar days of the
				auction, the purchaser shall either pay the balance of the purchase price or if
				eligible enter into a sales contract pursuant to subsection (e) of this
				section.
(d) Title Insurance. The
				Office will order an open title insurance commitment. The purchaser of the
				property shall pay the cost of the commitment and title insurance.
(e) Sales Contracts.
(i) Amortized Sales Contracts, as described
				in this section, may be offered at the Board's discretion.
(ii) Eligibility. Any individual or legal
				entity that was the mortgagor when the land was acquired by the Board shall not
				be eligible to enter into a sales contract in the purchase of that acquired
				land.
(iii) Terms. Eligible
				purchasers may pay the balance of the purchase price pursuant to a sales
				contract with the following terms:
(A) The
				length of the contract shall not exceed thirty (30) years; and
(B) The contract interest rate shall be
				pursuant to Chapter 14 of the rules as established by the Board.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 7 - FARM LOANS › Section 7-17 - Sale of Acquired Personal Property

Current through July 13, 2024
(a) The Board
				hereby delegates to the Director the authority to sell, by public auction,
				sealed bid, or negotiated sale, any personal property acquired through
				foreclosure, repossession, or surrender. The Director shall report all sales of
				personal property to the Board at its next regular meeting.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 11 - CLEAN WATER STATE REVOLVING FUND LOANS › Section 11-3 - General Policy

Current through July 13, 2024
(a) The Board shall
				approve loans and Additional Subsidies under the provisions of this Chapter in
				such a manner and to such applicants as shall, in the judgment of the Board,
				inure to the greatest benefit of the citizens of the State of Wyoming and
				represent a prudent use of loan funds.
(b) Supplemental and Emergency Contaminant
				funding for loans and additional subsidies under this Chapter is subject to a
				supplemental congressional appropriation in the Infrastructure Investment and
				Jobs act of 2021 (IIJA). To facilitate key provision of this Act, the Board
				will consider funding applications for:
(i)
				Projects addressing Emerging Contaminants; and,
(ii) Conventional clean water
				projects.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 11 - CLEAN WATER STATE REVOLVING FUND LOANS › Section 11-4 - Additional Subsidies and Special Program Requirements

Current through July 13, 2024
(a) Notice. OSLI
				and DEQ will assess, at least annually, the impacts of state and federal
				legislation on the Clean Water State Revolving Fund loan program administered
				under this Chapter. OSLI will provide timely notice to eligible applicants of
				changes in Additional Subsidies and Special Program requirements. Said notice
				will be not less than thirty (30) calendar days prior to any application
				deadline. Methods of notice include, but are not limited to, electronic,
				telephonic, written, website postings, video conferences or combinations of the
				same.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 11 - CLEAN WATER STATE REVOLVING FUND LOANS › Section 11-5 - Base and Supplemental Loan and Additional Subsidies Eligibility

Current through July 13, 2024
(a) Applicants.
				Municipalities, counties, state agencies, special districts, and joint powers
				boards in Wyoming shall be eligible applicants for loans and Additional
				Subsidies under this Chapter.
(b)
				Additional Subsidies. Additional Subsidies shall be awarded in the form of
				Principal Forgiveness and Green Project Reserve loans. The Additional Subsidies
				will be awarded in accordance with all federal regulations. OSLI will award
				points based on population trend, income data, unemployment data, enterprise
				system rate management, and the prior year's propriety tax and four percent
				(4%) sales tax collections to determine the amount of principal forgiveness an
				applicant is eligible to receive. Applicants whose total points are nine (9) or
				greater are eligible for principal forgiveness of up to seventy-five percent
				(75%) of their loan amount. Applicants whose total points are equal to or
				greater than six (6) but less than nine (9) are eligible for principal
				forgiveness of up to fifty percent (50%) of their loan amount. Applicants whose
				total points are equal to or greater than three (3) but less than six (6) are
				eligible for principal forgiveness of up to twenty-five percent (25%) of their
				loan amount. Applicants whose total points are less than three (3) are not
				eligible for principal forgiveness.
(i)
				Population trend points are awarded based on the category that the applicant
				was in as of the last decennial census (or other available population data
				acceptable to OSLI if decennial census data is not available). If an applicant
				can show population trend data demonstrating that it has likely dropped to a
				smaller category since the last decennial census, its points will be adjusted
				up accordingly.
(A) Applicants whose
				population is five hundred (500) or less will receive three (3)
				points.
(B) Applicants whose
				population is between five hundred one (501) and three thousand, three hundred
				(3,300) will receive two (2) points.
(C) Applicants whose population is between
				three thousand, three hundred one (3,301) and ten thousand (10,000) will
				receive one (1) point.
(D)
				Applicants whose population is ten thousand, one (10,001) or greater will
				receive zero (0) points.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 11 - CLEAN WATER STATE REVOLVING FUND LOANS › Section 11-6 - Application Procedure

Current through July 13, 2024
(a) Applications.
				Separate applications shall be prepared for each project. Applicants shall
				submit a complete application on a form provided by OSLI.
(b) Public Meeting Requirement. All eligible
				applicants must hold a minimum of one public meeting in advance of submitting
				an application for Board consideration. Notice of the public meeting is to be
				published in a local or regional newspaper fifteen (15) days prior to the same.
				The public meeting must provide the public an overview of the proposed project,
				financing and sustainability. The overview aspect of the public meeting must,
				at a minimum, address project scope, milestones and costs. The financing aspect
				of the public meeting must, at a minimum, address the financial impact of
				project costs upon the public. The sustainability aspect of the public meeting
				must, at a minimum, address the revenue streams, adjustments of water and sewer
				rates or other sources required to sustain the proposed project. Eligible
				applicants must verify compliance with the public meeting requirement through
				documentation submitted with their loan applications.
(c) Timing of Board Consideration.
				Applications must be received by the Director at least one hundred twenty (120)
				calendar days prior to any scheduled meeting of the Board. Applicants must cure
				any defects in their applications no later than forty-five (45) calendar days
				before any scheduled meeting of the Board. The Board may consider applications
				for loans under this Chapter at any scheduled meeting.
(d) Incomplete Applications. Incomplete
				applications, those missing one or more of the information items requested
				and/or failing to meet established deadlines, shall not be presented to the
				Board for consideration.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 11 - CLEAN WATER STATE REVOLVING FUND LOANS › Section 11-7 - Evaluation

Current through July 13, 2024
(a) Criteria. The
				Board shall evaluate applications utilizing the following criteria:
(i) Whether the applicant is current on all
				its repayment obligations to the Board;
(ii) Whether the applicant's dedicated source
				of revenue is acceptable to the Board and will be sufficient to repay its
				requested loan;
(iii) Whether the
				applicant is ready to proceed with construction or implementation of the
				project;
(iv) Whether the applicant
				has established an adequate operations and maintenance costs fund for the
				project for which applicant seeks funding;
(v) Whether the applicant has made a
				significant commitment of funding resources for the project for which it seeks
				funding;
(vi) The percentage of the
				applicant's population directly served by the project;
(vii) The project's priority rank on the
				current intended use plan (IUP); and
(viii) Whether the project is appropriately
				sized for the population to be served by the project.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 11 - CLEAN WATER STATE REVOLVING FUND LOANS › Section 11-8 - Board Consideration

Current through July 13, 2024
(a) The Board shall
				consider each complete application, and allow for comments from the applicant,
				the Director and DEQ. The Board shall also establish loan amounts and terms.
				Loan terms shall not exceed thirty (30) years, or the useful life of the
				project, whichever is less.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 11 - CLEAN WATER STATE REVOLVING FUND LOANS › Section 11-10 - Repayment

Current through July 13, 2024
(a) Annual payments
				for all loans shall begin one year after substantial completion of the project
				as indicated in the final project contract. Annual payments for loans used to
				refinance existing debt shall begin no later than one (1) year after loan
				approval.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 11 - CLEAN WATER STATE REVOLVING FUND LOANS › Section 11-11 - Disbursement of Loan Proceeds

Current through July 13, 2024
(a) Requests for
				disbursements shall be submitted on a form provided by the Director and include
				supporting invoices establishing the eligibility of costs submitted for
				disbursements. Proceeds will only be disbursed for eligible project costs as
				set forth in this Chapter and within federal guidelines following review by the
				OSLI and DEQ.
(b) Any loan for a
				project that spans more than one construction season shall submit an updated
				timeline to OSLI and DEQ for the project not less than annually.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 11 - CLEAN WATER STATE REVOLVING FUND LOANS › Section 11-12 - Audits and Inspections

Current through July 13, 2024
(a) The Board shall
				ensure compliance with the provisions of the Single Audit Act and Subpart F of
				Title 2 U.S. Code of Federal Regulations (CFR) Part 200.
Uniform
				Administrative Requirements. Cost Principles, and Audit Requirements for
				Federal Awards
. On an annual basis records of loan recipients shall
				be, at a minimum, compiled by an independent accounting firm. Notification of
				compliance shall be made to the Board in the form of a Compilation, Review, or
				Audited Financial Statement prepared by an independent accounting firm. The
				Board may, at its expense, conduct an independent audit of the loan recipient's
				records and inspect the construction and operation of the project. Loan
				recipients shall maintain project accounts in accordance with Generally
				Accepted Government Accounting Standards (GAGAS).
(b) The Board may, at its expense, conduct an
				independent audit of the loan recipient's records and inspect the construction
				and operation of the project. Loan recipients shall maintain project accounts
				in accordance with Generally Accepted Government Accounting Standards (GAGAS).
				Loan recipients shall assist and provide any information required by the
				auditors.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 11 - CLEAN WATER STATE REVOLVING FUND LOANS › Section 11-13 - Reports

Current through July 13, 2024
(a) The Director,
				or the Director's designee, shall review all reports prepared by the OSLI and
				DEQ for submission to the USEPA.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 11 - CLEAN WATER STATE REVOLVING FUND LOANS › Section 11-14 - Program Compliance

Current through July 13, 2024
(a) The Board shall
				administer the water pollution control revolving loan account program in
				accordance with all applicable federal laws and regulations. The Board shall
				enter into, and periodically update, a Memorandum of Understanding with the
				OSLI and DEQ to implement the program and facilitate program
				compliance.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 11 - CLEAN WATER STATE REVOLVING FUND LOANS › Section 11-15 - Fees

Current through July 13, 2024
(a) A loan
				origination fee of one-half of one percent (0.5%) of the amount of the loan
				will be collected at loan closing. The fees will be deposited to the
				Administrative Account as authorized by
				W.S.
				16-1-205(d).
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 11 - CLEAN WATER STATE REVOLVING FUND LOANS › Section 11-16 - IIJA Emerging Contaminants Funding

Current through July 13, 2024
The Board may award funding from IIJA funds under this
				  Section for projects that address Emerging Contaminants. For awards under this
				  Section, the provisions of this Section shall supersede any inconsistent
				  provisions in any other section of this Chapter.
(a) Loan and Additional Subsidies
				Eligibility.
(i) Applicants. Publicly Owned
				Water Systems in Wyoming listed on the Project Priority List specifically
				related to Emerging Contaminants shall be eligible to apply for loans and
				Additional Subsidies under the Section.
(ii) Additional Subsidies. Additional
				Subsidies may be awarded in the form of Principal Forgiveness, to the extent
				available, and in accordance with all federal regulations. All loans awarded
				under this section qualify for one hundred percent (100%) Principal
				Forgiveness, contingent on compliance with federal requirements.
(iii) Disadvantaged Community Eligibility.
				All entities with identified areas meeting the Emerging Contaminants definition
				in Section
				2(e) are considered
				disadvantaged under this section and qualify for one hundred percent (100%)
				Principal Forgiveness.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 11 - CLEAN WATER STATE REVOLVING FUND LOANS › Section 11-17 - Planning and Assessment Grants

Current through July 13, 2024
The Board may use a portion of the additional subsidies from
				  the capitalization grants to fund qualifying Planning and Assessment
				  activities.
(a) The amount available
				for grants under this subsection shall be defined in the annual IUP.
(b) The following activities may qualify for
				grants under this subsection:
(i) Asset
				management, fiscal sustainability, cost and effectiveness analyses;
(ii) Capital improvement plans;
(iii) Integrated planning;
(iv) Long-term control plans;
(v) Water or energy audits;
(vi) Conservation plans facility
				plans;
(vii) Treatment works
				security and safety plans;
(viii)
				Risk or vulnerability assessments;
(ix) Emergency preparedness response and
				recovery plans;
(x) Drought
				management plans;
(xi) Climate
				adaptation plans;
(xii)
				Environmental management systems;
(xiii) Watershed management plans;
				and
(xiv) Total maximum daily load
				implementation plans.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 13 - SCHOOL DISTRICT BOND GUARANTEE PROGRAM › Section 13-2 - Definitions

Current through July 13, 2024
(a) "Board" means the State Loan and
				Investment Board.
(b) "Director"
				means the Director of the Office of State Lands and Investments.
(c) "Office" means the Office of State Lands
				and Investments.
(d) "Stand-alone
				bond rating" means an independent rating agency analysis and rating of the bond
				without consideration of the Board's potential bond guarantee.
(e) "Superintendent" means the State
				Superintendent of Public Instruction.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 13 - SCHOOL DISTRICT BOND GUARANTEE PROGRAM › Section 13-3 - General Policy

Current through July 13, 2024
(a) The Board shall
				guarantee payment of bonded indebtedness of creditworthy school districts under
				the provisions of this chapter in such a manner and to such applicants as
				shall, in the judgement of the Board, inure to the greatest benefit of the
				citizens of the state and represent a prudent use of state permanent
				funds.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 13 - SCHOOL DISTRICT BOND GUARANTEE PROGRAM › Section 13-4 - Bond Guarantee Program Eligibility

Current through July 13, 2024
(a) Applicants.
				School districts that have met the accreditation standards of the Wyoming
				Department of Education and are at or below the constitutional debt limit shall
				be eligible to apply for bond guarantees under this chapter.
(b) Purposes. The Board shall only guarantee
				bonds issued by eligible applicants to acquire or improve land; to acquire or
				erect buildings; to enlarge, improve, remodel, repair, or add to buildings; or
				to equip and furnish buildings.
(c)
				Bond Types and Ratings. The Board shall only guarantee bonded debt in the form
				of general obligation bonds that have been considered and confirmed to be
				investment grade or better by one or more nationally recognized bond rating
				agencies as designated by the Board.
Wyoming Administrative Code › Agency 060 - Lands and Investments, Office of › Sub-Agency 0003 - Loan and Investment Board › Chapter 13 - SCHOOL DISTRICT BOND GUARANTEE PROGRAM › Section 13-5 - Limits on Bond Guarantees

Current through July 13, 2024
(a) Total
				Outstanding Bond Issues. The total outstanding principal of bonds guaranteed by
				the Board under this chapter shall not at any time exceed that amount
				authorized to be guaranteed by
				W.S.
				9-4-701(j). The $100 million
				pledged pursuant to W.S. W.S.
				W.S.
				9-4-701(j) to guarantee
				school district bonds shall not be diminished in the event of an investment
				loss in the Common School Account in the Permanent Land Fund, nor as a result
				of the state's pledge of other assets of that account.