Wyoming § 41-10-156 Bonding authority of city or town to acquire
district facilities; limitations; administration of
indebtedness

Wyoming Statutes

§ 41-10-156 — Bonding authority of city or town to acquire district facilities; limitations; administration of indebtedness

Wyoming § 41-10-156

Title 41Water

Ch. 10WATER AND SEWER DISTRICT LAW

This text of Wyoming § 41-10-156 (Bonding authority of city or town to acquire district facilities; limitations; administration of indebtedness) is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wyo. Stat. Ann. § 41-10-156 (2026).

Text

(a)Any city or town may acquire by purchase, gift or otherwise the plant facility and equipment of such district and incorporate the plant facility and equipment into its municipally owned water works or sewerage system. The city or town may finance the purchase of the plant facility and equipment by issuing its general obligation bonds or other like securities, or revenue bonds or other like securities payable solely from the revenues derived from the operation of the water or sewerage districts. The bonds may be issued in accordance with the provisions of law. The revenues produced by the bonds issued by the city or town shall be placed in escrow and used to retire the obligations of the district in accordance with the terms and conditions thereof.

(b)Upon the acquisition of such terri

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(a) Any city or town may acquire by purchase, gift or
otherwise the plant facility and equipment of such district and
incorporate the plant facility and equipment into its
municipally owned water works or sewerage system. The city or
town may finance the purchase of the plant facility and
equipment by issuing its general obligation bonds or other like
securities, or revenue bonds or other like securities payable
solely from the revenues derived from the operation of the water
or sewerage districts. The bonds may be issued in accordance
with the provisions of law. The revenues produced by the bonds
issued by the city or town shall be placed in escrow and used to
retire the obligations of the district in accordance with the
terms and conditions thereof.
(b) Upon the acquisition of such territory by the city the
existing bonded indebtedness of the district shall remain a
superior obligation to any other bonded indebtedness of the city
or town, with respect to such land only, and the bonded
indebtedness of the district shall in no way affect the bonded
indebtedness or limitations on the bonding capacity of the city
or town.
(c) When the governing body of the city or town determines
to acquire by purchase, gift or otherwise the plant facilities
and equipment of a district, it shall adopt an ordinance
describing in a general manner the assets of the districts to be
acquired, the purchase price thereof, the amount of revenue
bonds proposed to be issued, the maturity or maturities, the
interest rate and other details in connection with the bonds.
The ordinance may provide that the bonds or those specified
shall be to the extent and in the manner prescribed in the
ordinance subordinated to any other bonds payable from the
revenue of the water or sewerage system of the city or town. The
ordinance may contain such covenants and restrictions upon the
issuance of additional revenue bonds which share equally from
the revenues of the system as may be necessary or advisable to
assure the payment of the bonds hereby authorized. The ordinance
may provide the revenue bonds or any part thereof may be sold to
the state of Wyoming or the United States of America or any
agency or instrumentality thereof at private sale without
advertisement for not less than par and accrued interest. The
ordinance may provide that the bonds be redeemable with or
without premium at the time or place the governing body
provides.