§ 16-1-107 — Financing of joint projects

(a) Any joint project consisting of property or
improvements or an interest therein to be owned by participating
agencies or a joint powers board undertaken pursuant to this act
may be financed:
(i) By the contribution of funds from one (1) or more
participating agencies which would be available to each agency
if proceeding individually;
(ii) By bond issues by one (1) or more participating
agencies to construct, improve or acquire an interest in any
facility in the same manner as bonds may be issued by the agency
for its individual construction, improvement or acquisition of
such a facility;
(iii) By revenue bonds issued by a joint powers board
to be repaid solely from revenues provided by this section or
any revenue received by a joint powers board from the ownership,
lease or operation of property or interest in property owned,
leased or controlled by the board. Revenue securities may be
issued upon majority approval of the members of a joint powers
board and may be executed and delivered at any time, in the
form, denominations and amounts, and may be redeemed or
repurchased prior to maturity with or without premium, and may
bear interest as provided by resolution of a joint powers board
authorizing the issue. These securities shall meet the
procedural requirements and provisions of W.S. 35-2-425 through
35-2-428 as provided for the issuance of bonds by hospital
districts;
(iv) By facilities privately owned and leased to two
(2) or more agencies or a joint powers board if the lease
agreement provides that upon termination of the lease agreement
title to the facilities vests in the participating agencies;
(v) By gifts, donations or grants of federal money;
(vi) By industrial development project bonds issued
pursuant to W.S. 15-1-701 et seq.
(b) The state treasurer with the approval of the governor
may if fiscally prudent invest any permanent state funds in
bonds or securities issued pursuant to this act.