2010 Wyoming Statutes
Title 21 - Education
Chapter 15 - Capital Construction Projects

CHAPTER 15 - CAPITAL CONSTRUCTION PROJECTS

 

21-15-101. Repealed by Laws 1988, ch. 82, 2.

 

21-15-102. Repealed by Laws 1988, ch. 82, 2.

 

21-15-103. Repealed by Laws 1988, ch. 82, 2.

 

21-15-104. Repealed by Laws 1988, ch. 82, 2.

 

 

21-15-105. Bonded indebtedness mill levy supplement.

 

(a) On or before June 15 of each year, any school district may apply to the department to receive a mill levy supplement as calculated under subsections (c) and (d) of this section. The mill levy supplement shall not apply to the first two (2) mills levied by a district for payment of outstanding bonds. The amount of mill levy supplement to be received shall be certified by the department to the district and the board of county commissioners of the county or counties in which the district is located on or before July 15. Subject to limitations imposed by this section, the mill levy necessary to make scheduled payments under outstanding general obligation bonds of the school district for the current year shall be decreased accordingly. The mill levy supplement shall be paid to each district applying on or before January 1 and shall be credited to the debt service fund of the school district. Any mill levy supplement revenues not used to reduce the current mill levy as provided in this section shall be rebated to the state treasurer.

 

(b) This section only applies to bonds issued on or before February 23, 2001, the original term of which was for at least ten (10) years. Effective commencing school year 2010-2011 and each school year thereafter, this section shall not apply to the refunding of any bond issues initially qualifying under this section if the refunding occurs on or after April 1, 2010.

 

(c) The amount of mill levy supplement for a school district shall be computed as follows:

 

(i) Subtract the assessed valuation per average daily membership of the school district from one hundred fifty percent (150%) of the statewide assessed valuation per average daily membership and divide the amount determined by one hundred fifty percent (150%) of the statewide assessed valuation per average daily membership;

 

(ii) Multiply the number obtained under paragraph (i) of this subsection times the amount required to be paid on the bonds of the applying school for the current year by a school district mill levy.

 

(d) The mill levy supplement determined under subsection (c) of this section shall be decreased by subtracting the product of two (2) mills times the assessed value of the school district for the preceding year from the amount calculated under subsection (c) of this section. Following certification of the amounts and if the amount calculated under subsection (c) of this section is greater than the amount determined under this subsection, the department shall pay the difference to the school district under subsection (a) of this section.

 

(e) The department shall develop forms containing such information as may be required to implement this section. The forms shall be completed and submitted to the department by any school district applying under this section. The department shall adopt rules and regulations to implement this section. The mill levy supplement shall be computed using the assessed valuation for the state and district for the preceding year.

 

(f) Repealed by Laws 1988, ch. 82, 2.

 

(g) In addition to any payments provided under subsections (a) through (e) of this section, a district shall receive a grant annually not later than September 1 as provided in this subsection from the school capital construction account if the district finances school capital facilities through capital leasing, and the district is required to make lease payments in order to use the facilities. Payments to school districts under this subsection shall be used by the district solely for the purpose of making capital lease payments for facilities for which agreements to lease the facilities have been executed prior to January 1, 1999 and payments due during the school year for which the grant is to be made. For the purposes of this section, "capital leasing" means the lease of facilities by a school district from a nonprofit corporation or a joint powers board which corporation or board used the proceeds from revenue bonds or certificates of participation to fund construction of the facilities. The payments under this subsection shall be subject to the following:

 

(i) For the purpose of computations under this subsection, bonded indebtedness shall include both district general obligation bonds and revenue bonds or certificates of participation issued by any joint powers board or nonprofit corporation the proceeds from which were used to fund construction or acquisition of the facility which the district is leasing;

 

(ii) The grant shall:

 

(A) Be an amount equal to the lease payment times the proportion determined under W.S. 21-15-105 as if it applied to all general obligation and revenue bonds for the purposes of this subsection;

 

(B) Provided that subsection (d) of this section shall not apply to the determination of the proportion of bonded indebtedness used in computing the grant amount under subparagraph (g)(ii)(A) of this section.

 

21-15-106. Repealed By Laws 1999, ch. 170, 302.

 

21-15-107. Repealed By Laws 2002, Ch. 99, 3.

 

21-15-108. Revenue bonds for grants and loans; refunding revenue bonds.

 

(a) Before distribution to the public school capital construction account under W.S. 9-4-305(b), sufficient revenues for the purposes of this section shall be deducted therefrom and credited to a bond repayment account pursuant to the terms of the resolution, indenture or other appropriate proceeding authorizing the issuance of revenue bonds under this section. The revenues deducted shall be used as provided by this section. The balance of the revenues shall be credited to the public school capital construction account as provided under W.S. 9-4-305(b). After available revenues under W.S. 9-4-305(b) have been used, revenues under W.S. 21-13-301 shall also be credited, as necessary, to the bond repayment account and shall be used as provided by this section.

 

(b) The school facilities commission may borrow money in a principal amount not to exceed one hundred million dollars ($100,000,000.00) by the issuance from time to time of one (1) or more series of revenue bonds. The commission may encumber revenues under subsection (a) of this section for bonds in total amounts not to exceed one hundred million dollars ($100,000,000.00) issued for school capital construction projects and assistance as determined by the commission and approved by the legislature under W.S. 21-15-119. Any bonds issued under this section, together with any interest accruing thereon and any prior redemption premiums due in connection therewith, are payable and collectible solely out of revenues authorized under this section. The bondholders may not look to any general or other fund for payment of the bonds except the revenues pledged therefore. The bonds shall not constitute an indebtedness or a debt within the meaning of any constitutional or statutory provision or limitation. The bonds shall not be considered or held to be general obligations of the state but shall constitute its special obligations and the commission shall not pledge the state's full faith and credit for payment of the bonds.

 

(c) Bonds issued under this section shall be in a form, issued in a manner, at, above or below par at a discount not exceeding ten percent (10%) of the principal amount of the bonds, at public or private sale, and issued with recitals, terms, covenants, conditions and other provisions not contrary to other applicable statutes, as may be provided by the commission in a resolution authorizing their issuance and in an indenture or other appropriate proceedings.

 

(d) Any bonds issued under this section shall:

 

(i) Be of denominations of five thousand dollars ($5,000.00) or multiples thereof;

 

(ii) Be fully negotiable within the meaning of and for all purposes of the Uniform Commercial Code, W.S. 34.1-1-101 through 34.1-10-104;

 

(iii) Mature at a time or serially at times in regular numerical order at annual or other designated intervals in amounts designated and fixed by the commission, but not exceeding thirty (30) years from their date;

 

(iv) Bear interest payable annually, semiannually or at other designated intervals, but the first interest payment date may be for interest accruing for any period not exceeding one (1) year;

 

(v) Be made payable in lawful money of the United States at the office of the state treasurer or any commercial bank or commercial banks;

 

(vi) Repealed By Laws 2002, Ch. 99, 3.

 

(vii) Be additionally secured by a reserve fund created from revenues deposited within the capital construction account under W.S. 9-4-305(b) or from the proceeds of the bonds, or both, in an amount determined by the commission but not to exceed an amount equal to ten percent (10%) of the revenue bonds outstanding.

 

(e) Before any contract is entered into by the commission to retain the services of a financial advisor or to sell the bonds to an underwriter, whether by competitive or negotiated bid, a full disclosure of the terms of the contract including fees to be paid shall be submitted to the management council through the legislative service office.

 

(f) The commission may issue refunding revenue bonds:

 

(i) To refund and discharge and extend or shorten the maturities of all or any part of any outstanding bonds issued under this section including any interest thereon in arrears or about to become due;

 

(ii) For the purpose of reducing interest costs on bonds issued under this section or effecting other economics; or

 

(iii) For the purpose of modifying or eliminating any contractual limitations or provisions contained in any indenture or other proceedings authorizing outstanding bonds issued under this section.

 

(g) Any refunding permitted by this subsection shall be accomplished in the manner prescribed by W.S. 16-5-101 through 16-5-119, except any refunding revenue bonds authorized by the commission under this subsection shall not constitute an indebtedness or a debt within the meaning of any constitutional or statutory provision or limitation or be considered general obligations of the state. The commission shall not pledge the state's full faith and credit to the payment of the refunding revenue bonds. The refunding revenue bonds shall constitute special obligations of the state and may be payable only from the sources authorized in this section for the payment of the bonds refunded. The principal amount of any bonds which have been refunded need not be taken into account in computing compliance with the maximum amounts of bonds authorized to be issued under this section.

 

21-15-109. Major building and facility repair and replacement payments; computation; square footage allowance; use of payment funds; accounting and reporting requirements.

 

(a) As used in this act:

 

(i) Repealed By Laws 1999, ch. 170, 402.

 

(ii) "Educational building" means a school building or facility primarily used for providing the educational programs offered by a district in compliance with law which is owned by the district, including a school building or facility owned by the district and used for operating a charter school established under W.S. 21-3-301 through 21-3-314;

 

(iii) "Major building and facility repair and replacement" means the repair or replacement of complete or major portions of school building and facility systems at irregular intervals which is required to continue the use of the building or facility at its original capacity for its original intended use and is typically accomplished by contractors due to the personnel demand to accomplish the work in a timely manner, the level of sophistication of the work or the need for warranted work;

 

(iv) "Office building" means a school building or facility primarily used in connection with or for the purpose of district administrative functions, the major purpose or use of which is not dedicated to the provision of educational programs offered by the district in accordance with law. "Office building" shall include maintenance facilities and storage buildings in which supplies are stored;

 

(v) "Portable building" means any prebuilt, factory constructed and assembled school building or facility which is transported in an assembled condition to the location on which the building or facility is to be situated and which is acquired and used by the district for temporary purposes only;

 

(vi) "Routine maintenance and repair" means activities necessary to keep a school building or facility in safe and good working order so that it may be used at its original or designed capacity for its originally intended purposes, including janitorial, grounds keeping and maintenance tasks done on a routine basis and typically accomplished by district personnel with exceptions for any routine tasks accomplished by contractors such as elevator or other specialized equipment or building system maintenance;

 

(vii) "Teacherage" means housing provided by and owned by a school district for use as living quarters of a teacher or other school district employee;

 

(viii) "Warehouse building" means a school building or facility primarily used for storage of equipment, materials and other district property and supplies, including facilities in which school buses are stored, maintained or serviced.

 

(b) To the extent funds are available, on July 1 of each year, the school facilities commission shall based upon square footage computations computed on September 1 of the prior school year, distribute major building and facility repair and replacement payments to each school district from the capital construction account. If funds within the account are not sufficient for payments on July 1 of any school year, the commission shall distribute payments from the account on or before September 30 and March 31 of that school year. Major building and facility repair and replacement payments shall be computed in accordance with subsection (c) of this section.

 

(c) To compute the major building and facility repair and replacement payment for each district, the commission shall:

 

(i) Annually on or before September 1, determine the total number of gross square feet of school buildings and facilities within the district according to guidelines prescribed by rule and regulation of the commission, subject to the following:

 

(A) The gross square footage of any school building or facility within the district which is not used for purposes of delivering the required educational program shall not be included within the district's total gross square footage computed under this section, except for the square footage of any district school building or facility which would otherwise be treated as a closed building under paragraph (c)(iv) of this section or is determined to be surplus, and following approval of the commission, the building or facility is being used for the provision of one (1) of the programs specified in subdivisions (I) through (III) of this subparagraph and the district complies with subdivisions (IV) through (VI) of this subparagraph:

 

(I) Child care programs certified to operate in Wyoming under W.S. 14-4-101 through 14-4-111; or

 

(II) Developmental preschool programs receiving state financial assistance for program operations; or

 

(III) Educational programs and services provided through a board of cooperative educational services under W.S. 21-20-101 through 21-20-111 in which the district is a participant in the cooperative agreement; and

 

(IV) The district incorporates this use of closed or surplus buildings into its facility plans required under W.S. 21-15-116; and

 

(V) The district reports any fees or payments received or collected for this use of closed or surplus buildings as a local resource for purposes of foundation program computations under W.S. 21-13-310(a)(xv); and

 

(VI) The district limits the lease agreement for the use of the closed or surplus building to not more than one (1) year subject to termination by the district at any time prior to expiration of the one (1) year period if necessary for provision of district educational programs.

 

(B) The gross square footage of any school building or facility leased by a district shall not be included within the district's total gross square footage computed under this section, unless the lease agreement is by or with any nonprofit or governmental agency providing educational programs which have been approved by the department of education, the department of health or another state or educational credentialing agency and the leased space is incorporated into the district's facility plans required under W.S. 21-15-116(a)(vi) and is approved by the commission;

 

(C) The district's total gross square footage shall be adjusted for the age of its buildings and facilities. The commission shall by rule and regulation for buildings and facilities constructed after June 30, 2004, adjust total district gross square footage by excluding or reducing the gross square footage of newly constructed buildings and facilities whereby at the seventh school year immediately following the school year in which the building or facility is constructed, one hundred percent (100%) of the gross square footage of the newly constructed building or facility is included within the total district square footage computation under this section;

 

(D) No gross square footage created by any district enhancement shall be included within the district's gross square footage computed under this section unless the enhancement or any portion thereof is determined to be included within the state adequacy standards pursuant to this act.

 

(ii) Of the total gross square feet for all school buildings and facilities computed under paragraph (c)(i) of this section, determine the total gross square feet for each of the following building categories:

 

(A) Office buildings;

 

(B) Repealed By Laws 2001, Ch. 191, 2.

 

(C) Educational buildings, including buildings used for the provision of certified child care, developmental preschool or cooperative education programs pursuant to subparagraph (c)(i)(A) of this section, and including portable buildings provided portable buildings do not exceed more than ten percent (10%) of the total gross square feet computed for all school buildings and facilities under paragraph (c)(i) of this section, and excluding teacherages;

 

(D) Warehouse buildings.

 

(iii) The total amount of gross square footage determined for educational buildings under subparagraph (c)(ii)(C) of this section shall be adjusted by excluding from computations under this section the square footage for those educational buildings closed and not operational as provided for under paragraph (c)(iv) of this section and any amount including the gross square footage of portable buildings but excluding the gross square footage of buildings used for the provision of certified child care, developmental preschool and cooperative education programs pursuant to subparagraph (c)(i)(A) of this section, which exceeds capacity levels specified by this paragraph which are above the statewide minimum gross square footage criteria as prescribed by the statewide building and facility adequacy standards promulgated under W.S. 21-15-115(a). For purposes of this section, per student gross square footage criteria prescribed by the statewide building adequacy standards shall be based upon an average daily membership (ADM) computed as defined under W.S. 21-13-101(a)(i) for the prior school year. For purposes of computations under this section, the allowable capacity in educational building gross square footage for each district including portable buildings but excluding buildings used for the provision of certified child care, developmental preschool and cooperative education programs pursuant to subparagraph (c)(i)(A) of this section, shall be as follows:

 

(A) For school years 2004-2005 and 2005-2006, up to one hundred thirty-five percent (135%) of the per student gross square footage criteria prescribed by statewide adequacy standards;

 

(B) For school years 2006-2007 through 2008-2009, up to one hundred twenty-five percent (125%) of the prescribed per student gross square footage criteria;

 

(C) For school year 2009-2010 and each school year thereafter, up to one hundred fifteen percent (115%) of the prescribed per student gross square footage criteria.

 

(iv) The square footage of any district building or facility which is closed and not operational, is not being replaced under a district's facility plan approved by the commission under W.S. 21-15-116, is not determined surplus by the commission and is specified as a closed building within the district's facility plan as a cost efficient means to address future district building needs, shall be segregated from the square footage of other district buildings and facilities and multiplied by the replacement value determined by the commission under paragraph (c)(v) of this section for the appropriate building category. The resulting amount shall then be multiplied by an exterior closure factor established by the commission based upon the most current edition of the Whitestone Building Maintenance and Repair Cost Reference Index and added to the total amount determined for the district under paragraph (c)(viii) of this section. This paragraph shall not apply to any school year during which the building or facility is reopened and becomes operational for purposes of delivering the required educational program within the district or to any school year during which the building or facility is used to provide certified child care, developmental preschool or cooperative education programs pursuant to subparagraph (c)(i)(A) of this section;

 

(v) Multiply the adjusted square footage amount for each district's educational buildings determined under paragraph (c)(iii) of this section and the amount determined under paragraph (c)(ii) of this section for all remaining building categories of that district, times a replacement value cost factor established for each building category by the commission based upon the median estimate in the most current edition of the R. S. Means construction cost index, as modified to reflect current Wyoming construction costs determined by the department of administration and information, division of economic analysis;

 

(vi) Multiply the amount computed under paragraph (c)(v) of this section for the adjusted square footage of the district's educational buildings times two and one-half percent (2.5%) for school year 2001-2002, three percent (3%) for school year 2002-2003, and by two percent (2%) for school year 2003-2004 and each school year thereafter;

 

(vii) Multiply the sum of the amounts obtained under paragraph (c)(v) of this section for the building categories identified under subparagraphs (c)(ii)(A) and (D) of this section times two and one-half percent (2.5%) for school year 2001-2002, three percent (3%) for school year 2002-2003, and by two percent (2%) for school year 2003-2004 and each school year thereafter, adjusted as follows:

 

(A) Determine the proportion that the sum of the square footage for these building categories within the district bears to the educational building square footage computed under subparagraph (c)(ii)(C) of this section, as adjusted pursuant to paragraph (c)(iii) of this section, excluding any square footage included under paragraph (c)(iv) of this section;

 

(B) If the proportion is ten percent (10%) or less, the district is entitled to one hundred percent (100%) of the amount computed under this paragraph;

 

(C) If the proportion is greater than ten percent (10%) but less than sixteen percent (16%), the district is entitled to ninety percent (90%) of the amount computed under this paragraph;

 

(D) If the proportion is sixteen percent (16%) or greater but less than twenty-one percent (21%), the district is entitled to eighty percent (80%) of the amount computed under this paragraph;

 

(E) If the proportion is twenty-one percent (21%) or greater, the district is entitled to seventy percent (70%) of the amount computed under this paragraph.

 

(viii) Total the amounts computed under paragraphs (c)(iv), (vi) and (vii) of this section.

 

(d) Repealed By Laws 2004, Chapter 114, 2.

 

(e) Amounts distributed under subsection (b) of this section shall be deposited by the recipient district into a separate account, the balance of which may accumulate from year-to-year. Except as specified under subsection (f) of this section, expenditures from the separate account, including any interest earnings on the account, shall be restricted to expenses incurred for major building and facility repair and replacement as defined in subsection (a) of this section and shall be in accordance with the district's facility plan approved by the commission under W.S. 21-15-116. Account expenditures may include the expenses of district personnel performing work described under paragraph (a)(iii) of this section if approved by the commission and if documented within the district's facility plan. The district's facility plan shall clearly specify proposed major maintenance expenditures for addressing district major building and facility repair and replacement needs on a building-by-building basis, updated for the applicable reporting period, which shall be aligned to the statewide adequacy standards and prioritized based upon the impact of the building or facility on the district's ability to deliver the required educational program. The district shall include plans for maintaining any district building or facility which is under a lease agreement, specifying lease revenues available to the district for maintenance of facilities to the level required by statewide adequacy standards. No expenditures shall be made from the separate account unless the repair or replacement of the building or facility systems for which the expenditure is to be made is clearly specified within the district's facility plan or otherwise approved by the commission. In a manner and form required by commission rule and regulation, each district shall annually report to the commission on the expenditures made from the separate account during the applicable reporting period, separating account expenditures on a building-by-building basis. The commission shall annually review account expenditures and shall report expenditures to the select committee on school facilities established under W.S. 28-11-301. The commission shall compile reported building-by-building expenditure information for each district and the district facility plan and include this information in its annual report to the select committee pursuant to W.S. 21-15-121. If any district expends funds within the separate account for purposes not authorized by this subsection or by rule and regulation of the commission, the payments for that district shall be reduced by the amount of the unauthorized expenditure in the school year following the year in which the expenditure was discovered by the commission or the school year in which notification was provided by the commission, whichever first occurs.

 

(f) Notwithstanding subsection (e) of this section, a district may expend up to ten percent (10%) of the amount distributed during any school year under subsection (b) of this section for major building and facility repair and replacement needs of the district which are not specified in the district's facility plan, including expenditures for maintenance of district enhancements. Expenditures shall be made under this subsection only after the district's building and facility repair and replacement needs specified in its facility plan have been addressed in accordance with subsection (e) of this section and the commission has approved the district's proposed expenditures under this subsection. Effective for the July 1, 2007 payment under this section and each payment thereafter, amounts not expended for purposes of this subsection during any school year may be accumulated by a district and earmarked within the separate account established under subsection (e) of this section for expenditure under this subsection in subsequent school years, provided the unexpended amount during any school year to be accumulated does not exceed ten percent (10%) of the amount distributed to the district under subsection (b) of this section for that school year. Each district shall include expenditures under this subsection and any amounts accumulated from year-to-year under this subsection within the annual report required under subsection (e) of this section. Nothing in this subsection shall prohibit or limit the application of subparagraph (c)(i)(D) of this section in computing a district's building and facility gross square footage for purposes of determining payment amounts under this section. If any school district exceeds expenditure limitations prescribed by this subsection or fails to comply with expenditure levels for facility adequacy needs identified within its facility plan, the payments for that district in the immediately succeeding year shall be reduced by the excess expenditure amount including any excess expenditure of amounts accumulated under this subsection.

 

21-15-110. Repealed By Laws 2002, Ch. 99, 3.

 

 

21-15-111. Definitions.

 

(a) As used in this act:

 

(i) "Capital construction account" or "school capital construction account" means the account into which revenues are deposited pursuant to W.S. 9-4-305(b), 9-4-601(a)(vii), (b)(i) and (iv) and 21-13-306(c), into which the proceeds from any revenue bonds are credited under W.S. 21-15-108, and into which any other funds are appropriated to the account for purposes of this act. Funds within the account shall be expended only for purposes of and in the manner prescribed by this act;

 

(ii) "Commission" means the school facilities commission created by this act;

 

(iii) "Local enhancements to school buildings and facilities" or "local enhancements" means any renovation, construction, replacement, repair or other improvement of or to any school building or facility initiated by a school district which is designed to bring the building or facility to a condition exceeding the statewide building adequacy standards;

 

(iv) "Project" means replacement, renovation or new construction projects which increase the value of the school building or facility by improving the functioning of the building or facility or the capacity of the building or facility, or both, excluding major building and facility repair and replacement defined under W.S. 21-15-109(a)(iii) and routine maintenance and repair defined under W.S. 21-15-109(a)(vi);

 

(v) "Remedy" or "remediation" means a course of action addressing identified building and facility needs in accordance with statewide adequacy standards developed under this act, consisting of building or facility construction, replacement, renovation, repair or any combination thereof;

 

(vi) "School buildings and facilities" mean the physical structures and the land upon which the structures are situated, which are primarily used in connection with or for the purpose of providing the educational programs offered by a school district in compliance with law, including both student-related and nonstudent-related buildings and facilities;

 

(vii) Repealed By Laws 2008, Ch. 93, 2.

 

(viii) "This act" means W.S. 21-15-108, 21-15-109 and 21-15-111 through 21-15-122.

 

(b) Repealed By Laws 2002, Ch. 99, 3.

 

(c) Repealed By Laws 2002, Ch. 99, 3.

 

(d) Repealed By Laws 2002, Ch. 99, 3.

 

(e) Repealed By Laws 2002, Ch. 99, 3.

 

(f) Repealed By Laws 2002, Ch. 99, 3.

 

(g) Repealed By Laws 2002, Ch. 99, 3.

 

(h) Repealed By Laws 2002, Ch. 99, 3.

 

(j) Repealed By Laws 2002, Ch. 99, 3.

 

(k) Repealed By Laws 2002, Ch. 99, 3.

 

(m) Repealed By Laws 2002, Ch. 99, 3.

 

(n) Repealed By Laws 2002, Ch. 99, 3.

 

(o) Repealed By Laws 2002, Ch. 99, 3.

 

(p) Repealed By Laws 2002, Ch. 99, 3.

 

(q) Repealed By Laws 2002, Ch. 99, 3.

 

21-15-112. Leasing of capital assets.

 

(a) At the request of the school facilities commission, any school district shall lease any land, building, equipment or other capital asset from the nonprofit corporation approved by the state building commission pursuant to 1997 Wyoming session laws, chapter 94, section 3, as amended by 1998 Wyoming session laws, chapter 35, subject to the following conditions:

 

(i) The lease shall be terminable, without penalty, at the sole option of the lessee;

 

(ii) Any option to purchase under the lease shall be at the sole discretion of the lessee;

 

(iii) The financing for the land, building, equipment or other capital asset to be leased under the lease may only involve private funds and may not involve the creation of any indebtedness or debt within the meaning of any constitutional or statutory provision or limitation;

 

(iv) The lessee shall not pledge the lessee's full faith and credit for any payments under the lease or any financing thereof;

 

(v) The obligations of the lessee under the lease shall constitute a special obligation of the lessee and may be paid only from sources authorized by the legislative body of the lessee and may be terminated, without penalty or recourse against the lessee, in the event that the legislative body of the lessee fails to appropriate sufficient funds to meet the financial obligations under the lease;

 

(vi) No bonds or other obligations of the lessor shall constitute an indebtedness, legal, moral or otherwise, result in a pecuniary obligation, legal, moral or otherwise, or constitute a pledge of or charge, legal, moral or otherwise, against the faith or credit of the lessor, the state, any department, agency, board, commission or political subdivision of the state, any instrumentality of any of the foregoing or any public body corporate or other public body created by or pursuant to the constitution or statutes of the state;

 

(vii) The obligations of the lessee to make any payments due under the lease in any fiscal year shall be limited to funds appropriated by the legislative body of the lessee for that fiscal year and no appropriation by the legislative body of the lessor of funds to make payments due under the lease for any fiscal year shall constitute, or be construed to create, any obligation, legal, moral or otherwise, by the lessee to appropriate funds to make any payments due under the lease for any other fiscal year or constitute an indebtedness, legal, moral or otherwise, result in a pecuniary obligation, legal, moral or otherwise, or constitute a pledge of or charge, legal, moral or otherwise, against the faith or credit of the lessor, the state, any department, agency, board, commission or political subdivision of the state, any instrumentality of any of the foregoing or any public body corporate or other public body created by or pursuant to the constitution or statutes of the state; and

 

(viii) The lease shall provide that all bonds or any other obligations of the lessor relating to the land, building, equipment or other capital asset to be leased under the lease contain disclaimers describing the limitations set forth in paragraphs (i) through (vii) of this subsection.

 

(b) For purposes of this section, the legislative body:

 

(i) Of the state, any department, agency, board or commission of the state or any instrumentality of any of the foregoing is the state legislature;

 

(ii) Of any school district is the board of trustees of such school district.

 

21-15-113. School facilities commission; membership; conflict of interest; terms; chairman; meetings; compensation.

 

(a) The school facilities commission is established to consist of seven (7) members comprised of the state superintendent of public instruction and six (6) members who are Wyoming residents appointed as follows:

 

(i) By the governor:

 

(A) One (1) member of the state board of education;

 

(B) Three (3) members who shall have knowledge and experience in the following areas, with each appointment representing one (1) specified area of expertise:

 

(I) Building and facility engineering, construction and operations;

 

(II) Building design and specifications;

 

(III) Estimating, bidding and building construction.

 

(ii) By the state superintendent of public instruction, two (2) members who shall have knowledge and experience in the following areas, with each appointment representing one (1) specified area of expertise:

 

(A) School facilities planning and management;

 

(B) The state educational program for public schools as required by law.

 

(b) Commission members appointed under subsection (a) of this section shall not be an employee of any educational association or organization. In addition, not more than one (1) commission member shall be an employee of a school district. Commission members shall be subject to W.S. 16-6-118 and shall not vote or otherwise participate in any matter as prohibited under W.S. 16-6-118.

 

(c) Gubernatorial and state superintendent appointments shall be subject to senate approval and shall serve a term of four (4) years beginning March 1. Not more than four (4) of the appointed members shall be of the same political party. The governor and the state superintendent shall fill a vacancy on respective appointments to the commission in accordance with W.S. 28-12-101, and may remove respectively appointed commissioners as provided by W.S. 9-1-202. For purposes of this subsection, appointments by the state superintendent shall be subject to this subsection in the same manner provided for gubernatorial appointments under W.S. 9-1-202, 28-12-101 and 28-12-102.

 

(d) The governor shall designate a chairman from commission appointments, who shall hold office for the length of his term or until a successor is designated, whichever first occurs. The commission shall meet not less than quarterly and a majority of the voting membership constitutes a quorum for the transaction of commission business.

 

(e) Appointed commissioners shall receive one hundred twenty-five dollars ($125.00) per day as salary for attendance at commission meetings and conducting official commission business, and shall be reimbursed for travel and other expenses incurred in the performance of their official duties in the same manner and amount as state employees.

 

21-15-114. Powers and duties; school facilities office created; director.

 

(a) The school facilities commission shall:

 

(i) Act in consultation with school districts who may utilize local advisory committees on school building and facility needs, as appropriate, and shall consult with architects and other professional advisors;

 

(ii) Adopt policies, guidelines and standards for the comprehensive assessment of school buildings and facilities required under W.S. 21-15-115;

 

(iii) Adopt policies, guidelines and standards for school district facility plans required under W.S. 21-15-116 and review and certify a plan for each district as required under this act;

 

(iv) Establish a consistent, systematic research approach for student enrollment projections used by districts in developing district facility plans and forecasting building and facility needs to comply with statewide building adequacy standards;

 

(v) Develop cost per square foot guidelines to be used in estimating the cost of constructing, renovating and otherwise remediating buildings and facilities to comply with statewide adequacy standards, which shall account for demonstrated differences among regions and communities within the state;

 

(vi) Establish a statewide school facilities database comprised of building and facility specific condition, suitability, accessibility, capacity, inventory and site data;

 

(vii) Develop policies and criteria for use in determining renovation, replacement or discontinuation of inadequate buildings and facilities based upon statewide adequacy standards and other requirements necessary to ensure adequate, efficient and cost effective school buildings and facilities;

 

(viii) Enter into or approve construction or renovation project agreements, as appropriate. The agreement shall:

 

(A) Require the district make arrangements for appropriate professional supervision and management of the project;

 

(B) Provide for the review and approval of project plans and specifications;

 

(C) Provide for review and approval of project changes and change orders provided that:

 

(I) The agreement may specify parameters identifying the circumstances under which changes and change orders may be approved;

 

(II) Repealed By Laws 2008, Ch. 93, 2.

 

(III) All changes and change orders shall be approved by the district or its representative.

 

(D) Establish payment schedules involving state funds;

 

(E) Assure the commission is not responsible or liable for compliance with construction or renovation project schedules or completion dates;

 

(F) Repealed By Laws 2008, Ch. 93, 2.

 

(G) Provide that the agreement shall expire upon completion of the project or projects;

 

(H) Contain any other provision mutually agreed upon by the commission and the district; and

 

(J) Allow for alternate design and construction delivery methods as defined in W.S. 16-6-701 for provision of design and construction services.

 

(ix) Establish criteria and procedures for the identification of local enhancements to school buildings and facilities which are in excess of state building adequacy standards and develop criteria and procedures to determine whether and how any local enhancements should be incorporated into the statewide adequacy standards;

 

(x) Review and approve district plans for the disposition or demolition of buildings and facilities made surplus by an approved construction or renovation project or by changes in school population, including allocation of resulting costs and revenues. Disposition shall include options for use, lease, sale and any other means of disposing of the surplus building or facility. The costs and revenues incurred by the disposition or demolition of the building or facility shall be accounted for in each district's school facility plan and considered in any building or facility remedy for that district, including the allocation of revenues resulting from the disposition of property rendered surplus to offset property demolition costs. The district shall have final authority over the disposition or demolition of any surplus buildings, facilities or land, but the commission may disapprove any plans submitted pursuant to this paragraph to protect the financial interests of the state if the plans are not otherwise in the public interest. Any revenues resulting from property disposition under this paragraph shall not be considered or counted under W.S. 21-13-310(a)(xiv) or (xv);

 

(xi) Establish a process under which prototypes are developed for remedies addressing building and facility needs identified under this act through building and facility replacement. Prototypes shall be assembled based upon:

 

(A) Capacity requirements of the building or facility and projected student populations to be attending programs in the building or facility;

 

(B) Educational programs to be provided within the building or facility, provided that this subparagraph shall not be construed to grant the commission any authority to specify the educational programs offered by any district;

 

(C) Accommodations, in coordination and cooperation with the district, to the proposed site on which the building or facility is to be constructed, including specific site requirements and limitations.

 

(xii) Develop criteria and procedures for the site analysis of remedies responding to identified building and facility needs by building and facility replacement. Site analysis shall include a comprehensive review and evaluation of site soil conditions, traffic patterns, utilities and site topography;

 

(xiii) Provide for the purchase and acquisition of sites for any project within the approved district facility plan if state funds are to be expended for the purchase and acquisition;

 

(xiv) Review any proposed sale of existing land owned by a district, which land is within the scope of the district's facility plan, and the impact of the land disposition upon that plan. The commission may disapprove any plans submitted pursuant to this paragraph to protect the financial interests of the state if the plans are not otherwise in the public interest. If the commission determines land disposition adversely impacts the cost-effectiveness of the district's facility plan, the revenues resulting from land disposition shall be considered by the commission in any future building or facility remedy for that district and notwithstanding paragraph (x) of this subsection, may at the direction of the commission to the department of education, be considered or counted under W.S. 21-13-310(a)(xiv) or (xv);

 

(xv) With prior consultation with the select committee on school facilities, promulgate necessary rules and regulations to administer and implement this act.

 

(b) The commission may contract with appropriate expertise and professionals in administering this act and performing duties imposed under this act.

 

(c) The commission shall select and subject to senate confirmation, employ a director who is a Wyoming resident and who shall have demonstrated competency in facilities planning and construction. The director shall receive an annual salary determined by the commission and may be removed from office by the commission or the governor as provided under W.S. 9-1-202(b). In addition to other powers granted under this act, the director may hire necessary staff as approved by legislative appropriation and shall provide administrative support to the commission and carry out this act under the direction of the commission.

 

21-15-115. Statewide standards for school building and facility adequacy; adequacy assessment.

 

(a) The commission shall by rule and regulation establish and maintain uniform statewide standards for the adequacy of school buildings and facilities necessary for providing educational programs prescribed by law for the public schools. If a building owned by a district meets the applicable standards under this subsection for use by the district to educate students and was previously used for the purpose of educating students, no municipal or county zoning requirements shall be construed or applied so as to prevent the district from using the building for the purpose of educating students, or to require the district to make any modification to the building as a condition of using the building for the purpose of educating students. The uniform standards shall at minimum include:

 

(i) Requirements for educating students in a safe environment including all applicable building, health, safety and environmental codes and standards required by law for all public buildings;

 

(ii) Building site requirements;

 

(iii) Building performance standards and guidelines including energy efficiency criteria;

 

(iv) Assurances for the special needs of identified student populations including children with disabilities;

 

(v) Guidelines for adequacy and functionality of educational space for required educational programs;

 

(vi) Building capacity criteria aligned to the prescribed state educational program, with consideration given to utilization differences between school sizes;

 

(vii) Technological capacity criteria sufficient to meet required educational program needs and the requirements imposed under the state education technology plan;

 

(viii) Building and facility accessibility.

 

(b) In addition to subsection (a) of this section, the commission shall maintain the comprehensive assessment of the adequacy of existing school buildings and facilities and of future space requirements within the state. Maintenance of the assessment shall include district reporting of new construction and major building and facility repair and replacement activities in accordance with guidelines prescribed by rule and regulation of the commission, the results of commission on-site visitations and inspections of buildings and facilities and needs assessment data and verification of building and facility ratings through periodic review. The assessment shall be designed and maintained to provide timely and uniform statewide data on all of the following:

 

(i) The condition of school buildings and facilities, seismic ratings and structural integrity;

 

(ii) School building and facility longevity and space requirements;

 

(iii) Student educational and safety requirements;

 

(iv) The ability to accommodate educational technology;

 

(v) Site requirements of school buildings and facilities;

 

(vi) Inventory of exterior and interior building and facility space.

 

(c) The commission shall not less than once every four (4) years, review and evaluate the building and facility adequacy standards established under subsection (a) of this section. Review and evaluation of the standards shall include the identification of local enhancements to buildings and facilities during this review and evaluation period, and based upon criteria and procedures developed by the commission, a determination as to whether and how any local enhancements should be incorporated into the statewide standards. Findings and recommendations pursuant to this subsection shall be reported to the select committee on school facilities before the next convening date of the legislative session immediately following completion of the review and evaluation, and shall specifically address any need to expand the needs assessment or to conduct a reassessment of building and facility adequacy.

 

(d) The commission shall not hinder or curtail the right of a school district to undertake local enhancements to buildings and facilities which are in excess of state building adequacy standards, as permitted by law.

 

21-15-116. School district facility plans; commission development, review and approval; plan criteria; administrative review.

 

(a) In accordance with rules and regulations of the commission, long range comprehensive school building and facility plans for each school district shall be developed by the commission in coordination with the applicable district, which address district wide building and facility needs. The facility plan shall identify building and facility needs in accordance with the statewide adequacy standards, actions to remediate building and facility needs including construction, renovation and major building and facility repair and replacement expenditures, and any local enhancements to buildings and facilities beyond statewide adequacy standards. The facility plan shall include a response to each building and facility need identified on a building-by-building, space-by-space basis. The plan shall also review and to the extent practical, identify nonconstruction alternatives to building and facility needs such as building closure, modification of school boundaries, modification of school grade configurations and similar approaches. Demolition or use, lease or other methods of disposition of commission determined surplus buildings and facilities shall be incorporated as part of the district plan, including the disposition of any existing land owned by the district. The plan shall not include the abandonment or demolition of any school facility or building unless there has first been a public hearing on the issue. The plan shall also specify identified alternative methods of building disposition, proposed allocation of costs incurred or revenues resulting from disposition and allocation of disposition revenues to offset any costs paid by the commission. In addition, district facility plans shall include:

 

(i) Student enrollment projections for a period of not less than five (5) years using commission approved measures and techniques, including a description of the methods used in making projections;

 

(ii) A description of proposed new schools or additions and remediations to existing schools necessary to meet building adequacy standards, including:

 

(A) The grade levels and the total number of pupils that the proposed school or school addition or remediation is intended to serve;

 

(B) The year in which it is necessary to commence operations of the proposed new school or school addition;

 

(C) The timeline for the planning and construction of the new school or school addition or remediation.

 

(iii) Projections for new land required for new schools including land purchase, acquisition and site analysis;

 

(iv) Appropriate cost estimates;

 

(v) A plan for addressing district major building and facility repair and replacement needs as required under W.S. 21-15-109(e);

 

(vi) An inventory of buildings and facilities to be leased by the district during the planning period, either as lessee or lessor, including the purpose for which the leased buildings and facilities are to be used and if any of this leased space will involve any district buildings or facilities included within the statewide school facilities database maintained by the commission under W.S. 21-15-114(a)(vi);

 

(vii) Other information required by the commission to evaluate each district's plan.

 

(b) Repealed By Laws 2008, Ch. 93, 2.

 

(c) Repealed By Laws 2008, Ch. 93, 2.

 

(d) The commission shall ensure each plan:

 

(i) Complies with state adequacy standards;

 

(ii) Reduces building and facility needs in the most efficient and cost effective manner in order to deliver quality educational services;

 

(iii) Considers nonconstruction alternatives;

 

(iv) Provides facilities capable of supporting the provision of the statewide educational program required by law of public schools.

 

(e) Any school district aggrieved by a decision of the commission under this act may seek review in accordance with the Wyoming Administrative Procedure Act.

 

(f) In carrying out this act and in accordance with policies adopted by the commission, the commission shall consult with the affected school districts and shall provide districts the opportunity to informally review facility plans, remedies and projects with the commission before districts pursue administrative review under subsection (e) of this section.

 

21-15-117. Annual evaluation of school buildings and facilities; remediation schedule; needs prioritization; combining facilities; implementation of remedy.

 

(a) Through the identification of school building and facility conditions and needs provided by the assessment conducted and maintained under W.S. 21-15-115, and a comparison of the identified conditions and needs with the established statewide building adequacy standards and the district facility plans developed under W.S. 21-15-116, the commission shall in coordination and cooperation with the districts, evaluate the adequacy of school buildings and facilities within local school districts, and based upon this evaluation, establish a schedule for building and facility remediation. Remediation shall bring all buildings and facilities to conditions such that over time, only routine maintenance is required to maintain building adequacy. The schedule shall identify and prioritize building and facility remedies on a statewide basis, based upon the following:

 

(i) Criteria for building capacity, building condition, educational suitability and technology readiness established by commission rule and regulation, reviewed annually, based upon assessment results and findings, broken down by educational and noneducational building category;

 

(ii) Measures of building condition, educational suitability and technology readiness, including computed building capacity, as established by the commission, which over time, bring statewide school buildings and facilities to targeted adequate levels prescribed by the commission;

 

(iii) Analysis of student enrollment changes, as based upon commission approved enrollment projection methodology, to determine the need for changes in building capacities over time for compliance with statewide adequacy standards. Analysis under this paragraph shall prioritize remediation for those buildings requiring additional space to comply with statewide adequacy standards;

 

(iv) Priority shall be given to educational buildings and to conditions in those buildings which impede the delivery of the prescribed statewide educational program;

 

(v) A methodology and process for identifying the most critical building and facility needs.

 

(b) The commission shall for each building and facility remedy scheduled under subsection (a) of this section, determine the most cost effective method of remediation of building and facility needs to deliver quality educational services and ensure compliance with the statewide adequacy standards. For any scheduled remedy for which major building and facility repair and replacement payments under W.S. 21-15-109 are not sufficient to remedy the scheduled need, as determined by the commission, the commission shall determine if the remedy requires capital outlay.

 

(i) Repealed By Laws 2008, Ch. 93, 2.

 

(ii) Repealed By Laws 2008, Ch. 93, 2.

 

(c) In determining the most cost effective method in meeting capital construction needs in order to deliver quality educational services, the commission in consultation with the select committee on school facilities, may recommend consolidating educational facilities within, between or among school districts. The legislature shall approve any consolidation of educational facilities between two (2) or more school districts.

 

(d) In determining building and facility remedies under subsection (b) of this section, in developing criteria and procedures for site analysis under W.S. 21-15-114(a)(xii) and in developing district facility plans under W.S. 21-15-116 and otherwise administering this act, the commission shall adopt the remedy that is in the best financial and educational interests of the state, taking into consideration the most efficient and cost effective approach in order to deliver quality educational services and address building and facility need. Expenditures from the school capital construction account shall be for necessary and related costs to implement efficient and cost effective building and facility remedies required to deliver quality educational services. In making determinations under this paragraph, the commission shall take into consideration the effects of the proposed activity on the local community. The commission shall implement this subsection in carrying out building and facility remedies and shall, giving proper consideration to the prevention of unnecessary delays in preceding with a remedy, establish a process to work with other political subdivisions of the state in implementing this subsection.

 

21-15-118. Building and facility construction and renovation projects.

 

(a) Upon determination by the commission following review under W.S. 21-15-117, and appropriation by the legislature in accordance with W.S. 21-15-119, the commission shall proceed with projects as follows:

 

(i) Repealed By Laws 2008, Ch. 93, 2.

 

(ii) If a capital outlay remedy:

 

(A) With the assistance of the involved school district, develop and approve the necessary schematic design documents;

 

(B) Conduct a value engineering analysis of the project;

 

(C) Perform an energy efficiency assessment of the project;

 

(D) Conduct a safety and security assessment of the project;

 

(E) Enforce the requirements under subparagraphs (a)(ii)(B) through (D) of this section and may waive any of these requirements if determined not necessary or if provided within any one (1) of the other requirements specified under this paragraph.

 

(b) If required, the commission shall provide for temporary space for any scheduled building remedy by means of portable buildings creating capacity or by other means available to the commission.

 

(c) The projects shall be managed and all necessary contracts related to the projects shall proceed in accordance with commission rules and regulations promulgated and adopted pursuant to W.S. 21-15-114(a)(xv).

 

21-15-119. Commission budget and funding recommendations.

 

(a) Notwithstanding W.S. 9-2-1012, the commission shall annually, not later than September 1, prepare and submit a recommended budget for projects and school capital construction financing to the governor, through the budget division of the department of administration and information and to the select committee on school facilities. The commission shall include with its recommended budget to the select committee the comprehensive assessment specified in W.S. 21-15-115(b), the prioritized list of projects specified in W.S. 21-15-117 including the amounts allocated to each project and the annual building status report specified under W.S. 21-15-121. The recommended budget submitted by the commission shall include:

 

(i) The estimated costs and proposed funding amounts for all projects determined under W.S. 21-15-117 and 21-15-118 and proposed for that budget period, together with estimated expenditures for major building and facility repair and replacement program payments under W.S. 21-15-109 for the same budget period;

 

(ii) Financing alternatives for funding the recommended budget, which uses any combination of the following financing alternatives:

 

(A) Direct payment from the school capital construction account;

 

(B) Proceeds from state revenue bonds issued under W.S. 21-15-108;

 

(C) Capital leasing under W.S. 21-15-112. Any payments for capital leasing shall be made from the school capital construction account subject to W.S. 21-15-112. For the purpose of this section, capital leasing includes payments sufficient for the exercise of a purchase option under the lease.

 

(iii) In odd-numbered years, the commission's recommendation on November 1 shall be for expenditures during the two (2) succeeding fiscal years. The recommendation for the second year shall be based on estimates of expenditures and payments. In even-numbered years, the commission's recommendation on November 1 shall be for expenditures during the succeeding fiscal year. As it determines to be necessary in any year, the commission's recommendation on November 1 may contain a recommendation for revised expenditures during the current fiscal year.

 

(b) The commission may enter into agreements under which the commission may make payments on behalf of a school district with respect to the district's lease of school facilities under W.S. 21-15-112. The commission may also enter into any agreement with a nonprofit corporation or other entity necessary to ensure that a district can lease facilities under W.S. 21-15-112.

 

(c) Budgets submitted by the commission under subsection (a) of this section and recommended by the select committee under W.S. 28-11-301 shall be attached to specified projects for the applicable budget period, which projects shall be referred to as planning and design phase projects and construction phase projects. With the approval of the governor, the commission may transfer up to fifteen percent (15%) of the total funds appropriated between project phases. Any modification of appropriation expenditures between project phases shall be reported to the select committee in accordance with W.S. 28-11-301(c)(iv). Additionally, the commission may for any budget period specify amounts within its budget which are recommended to cover inflation, unanticipated costs, off-site infrastructure costs and other such contingency or special project costs provided the additional costs are reported and approved in accordance with W.S. 28-11-301(c)(iv). Amounts appropriated by the legislature shall not be construed to be an entitlement or guaranteed amount and shall be expended by the commission in accordance with facility guidelines to ensure adequate, efficient and cost effective school buildings and facilities as required by W.S. 21-15-114(a)(vii).

 

21-15-120. Emergency facility needs.

 

(a) The commission shall promulgate rules under which an emergency shall be determined to exist with respect to the adequacy of the school buildings and facilities of any school district such that the ability of the district to provide educational programs required by law is immediately and substantially impacted and no reasonable alternative exists to address it other than emergency funding under this section.

 

(b) Upon a finding that an emergency exists under subsection (a) of this section, the commission shall in accordance with rules and regulations promulgated by the commission under this subsection and to the extent funds are available within the school capital construction account or otherwise made available by the legislature, acquire facilities and equipment, undertake facility repairs, fund additional operating expenses incurred in providing temporary measures and other responses to the emergency situation including necessary investigative and qualified contract assistance expenses incurred by the commission, as necessary to enable the district to provide educational programs required by law on a temporary basis until permanent action can be taken to address building adequacy.

 

21-15-121. Annual school building status report to select committee on school facilities.

 

(a) Not later than September 1 of each year, the commission shall submit a report to the select committee on school facilities on progress being made under the school capital facilities system established under this act. The report shall be incorporated into the proposed budget submitted to the select committee under W.S. 21-15-119 and shall include:

 

(i) Building and facility needs determined under W.S. 21-15-115, identifying progress made in the year reported;

 

(ii) Building and facility needs addressed under this act or otherwise by districts including any building or facility which is closed or otherwise removed from operation during that year, and relating this paragraph to progress made in building and facility condition under paragraph (i) of this subsection;

 

(iii) Use of major building and facility repair and replacement funds which have addressed buildings and facilities identified under W.S. 21-15-115, including the impact of expenditures of these funds, as quantified pursuant to the statewide needs assessment rating scores undertaken in accordance with W.S. 21-15-115, on building condition as reported under paragraph (i) of this subsection and on the capacity, educational suitability and technology readiness of these buildings and facilities;

 

(iv) Amounts of funds expended to address building and facility needs for the period of time addressed in the report together with historical amounts;

 

(v) The impact of expenditures on the building and facility scores for condition, educational suitability and technology readiness, including computed building capacity;

 

(vi) Repealed By Laws 2008, Ch. 93, 2.

 

(vii) Repealed By Laws 2008, Ch. 93, 2.

 

(viii) Any expenditures for emergency facility needs under W.S. 21-15-120.

 

21-15-122. School capital construction fund; transfers to the common school permanent land fund.

 

(a) At the end of each biennial budget period funds in the school capital construction account established under W.S. 21-15-111 shall be deposited to the common school permanent land fund as follows:

 

(i) The state treasurer shall determine the unencumbered, unobligated balance of the account including all funds accruing to the account for the current biennial budget period;

 

(ii) Unencumbered, unobligated funds within the account in excess of fifty percent (50%) of the amount of funds appropriated for projects under this act, including major maintenance, for the current biennial budget period shall be transferred from the account to the common school permanent land fund as soon as practicable after the end of the current biennial budget period;

 

(iii) No funds deposited to the account from the issuance of revenue bonds pursuant to W.S. 9-4-305(b) or 21-15-108 or pledged for the repayment of such bonds shall be included in the calculation of the account balance and no such funds shall be transferred to the common school permanent land fund under this section.