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Title 99 Water Projects

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Change 1

What to do with it
As published

99-99-222. Project financing.

(a) The state of Wyoming shall loan to the district from the water development account through the department as authorized in W.S. 9-2-206 [repealed] a sum not to exceed ninety-five thousand dollars ($95,000.00) for a term of fifty (50) years at an annual interest rate of six percent (6%) provided [that]: (i) The district offers security as deemed adequate and acceptable to the attorney general; (ii) No principal or interest is due and payable during the first five (5) years of the term of the loan; (iii) Interest shall not accrue on the principal during the first five (5) years of the term of the loan; (iv) The district shall establish a sinking fund for repair and maintenance from an annual assessment of one dollar ($1.00) per acre for each acre to which a water right is attached; (v) The department establishes a repayment schedule in accordance with the conditions prescribed in this act. (b) The state of Wyoming shall grant the district not to exceed ninety-five thousand dollars ($95,000.00) for construction of the project. The department shall release grant funds as it deems necessary. (Laws 1983, Ch. 163, § 1; Renumbered from 41-2-222 by Laws 2009, Ch. 168, § 401.)

Your change, as a redline

99-99-222. Project financing.

(a) The state of Wyoming shall loan to the district from the water development account through the department as authorized in W.S. 9-2-206 [repealed] a sum not to exceed ninety-five thousand dollars ($95,000.00) for a term of fifty (50) years at an annual interest rate of six percent (6%) provided [that]: (i) The district offers security as deemed adequate and acceptable to the attorney general; (ii) No principal or interest is due and payable during the first five (5) years of the term of the loan; (iii) Interest shall not accrue on the principal during the first five (5) years of the term of the loan; (iv) The district shall establish a sinking fund for repair and maintenance from an annual assessment of one dollar ($1.00) per acre for each acre to which a water right is attached; (v) The department establishes a repayment schedule in accordance with the conditions prescribed in this act. (b) The state of Wyoming shall grant the district not to exceed ninety-five thousand dollars ($95,000.00) for construction of the project. The department shall release grant funds as it deems necessary. (Laws 1983, Ch. 163, § 1; Renumbered from 41-2-222 by Laws 2009, Ch. 168, § 401.)

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