Wyoming § 16-10-109 Use of surplus funds

Wyoming Statutes

§ 16-10-109 — Use of surplus funds

Wyoming·Title 16 City, County, State and Local Powers·Ch. 10 SURFACE WATER DRAINAGE·Art. 1 SURFACE WATER DRAINAGE UTILITY ACT

(a)A governing body may use any surplus funds arising from the service charge for the purchase and cancellation of any bonds or other forms of indebtedness issued pursuant to this act. The purchase price of the bonds shall not be either:

(i)Greater than par, plus a premium not to exceed fifty percent (50%) of the face value of all unearned interest coupons attached to any bond purchased; or

(ii)More than the actual market price of the bonds or other forms of indebtedness at the time of purchase.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) A governing body may use any surplus funds arising
from the service charge for the purchase and cancellation of any
bonds or other forms of indebtedness issued pursuant to this
act. The purchase price of the bonds shall not be either:
(i) Greater than par, plus a premium not to exceed
fifty percent (50%) of the face value of all unearned interest
coupons attached to any bond purchased; or
(ii) More than the actual market price of the bonds
or other forms of indebtedness at the time of purchase.

Wyoming § 16-10-109 (Use of surplus funds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.