2012 Wyoming Statutes
TITLE 11 - AGRICULTURE, LIVESTOCK AND OTHER ANIMALS
CHAPTER 34 - STATE LOAN AND INVESTMENT BOARD
11-34-306. Loans for hydro-power development; terms; rules and regulations; fund source.
(a) The state loan and investment board may negotiate and make loans to municipalities, irrigation districts and special districts duly organized in this state for the purposes of hydro-power development as provided by rule and regulation. Any loan granted under this section shall not exceed the aggregate sum of ten million dollars ($10,000,000.00) for a term not to exceed thirty (30) years for repayment at an interest rate of not less than four percent (4%) and not to exceed six percent (6%).
(b) All loan applications shall be accompanied by the feasibility study completed by the Wyoming water development commission created by W.S. 41-2-117.
(c) A fee of one percent (1%) of each loan made under this section shall be paid by the borrower to the board to be credited to the loss reserve account as provided by W.S. 11-34-202(e).
(d) Loans provided for by this section shall be made from the permanent funds of this state.
(e) The board shall require such security for each loan issued under this act as it deems adequate to secure the loan.
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