2012 Wyoming Statutes
TITLE 11 - AGRICULTURE, LIVESTOCK AND OTHER ANIMALS
CHAPTER 34 - STATE LOAN AND INVESTMENT BOARD
11-34-303. Area redevelopment programs; terms; rules and regulations; fund source.
(a) The state loan and investment board, with the advice of the Wyoming business council created by W.S. 9-12-103, may negotiate and make loans to departments and agencies of state and local government, persons, corporations and associations in this state, not to exceed the aggregate sum of three hundred thousand dollars ($300,000.00) at a reasonable rate of interest for a term not to exceed forty (40) years for repayment. Each loan shall not exceed ten percent (10%) of the cost of any project within a redevelopment area for industrial or commercial usage under the area redevelopment program provided for in chapter 28 of title 42 of the Federal Public Health and Welfare Act, 42 U.S.C. 3161 and 3162.
(b) The state loan and investment board, shall make such rules and regulations concerning loans under this section as it deems advisable but the board shall require a mortgage or other lien upon all of the property of the project.
(c) Loans provided for by this section shall be made from the permanent funds of Wyoming.
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