§ 41-10-128 — Borrowing money and issuing bonds for purpose of acquiring or improving water or sewer system or other income- producing project

Wyoming § 41-10-128

• Jurisdiction: Wyoming
• Title 41: Water
• Ch. 10: WATER AND SEWER DISTRICT LAW

Text

(a) A district in pursuance of a resolution may borrow
money, issue bonds, or otherwise extend its credit for the
purpose of acquiring or improving a water or sewer system, or
other income-producing project; provided that the bonds or other
obligations shall be made payable solely out of the net revenues
derived from the operation of the system or other such project;
and the systems and projects may be combined, operated and
maintained as joint systems or projects, in which case the bonds
or other obligations shall be made payable solely out of the net
revenues derived from the operation of the joint systems or
projects. No revenue bonds or other like securities shall be
issued unless the issuance thereof has been submitted to a vote
of the electors and approved by a majority of the qualified
taxpaying electors voting on the question and by a majority of
other qualified electors voting thereon, or, if no ballots are
cast in one (1) of the ballot boxes and a majority of the
ballots in the other ballot box favor the issuance of such bonds
or other like securities, approved either by a majority of the
qualified taxpaying electors voting thereon or by a majority of
the other qualified electors voting thereon, as the case may be,
at an election held as provided for bond elections by the
Political Subdivision Bond Election Law, W.S. 22-21-101 through