Wyoming § 21-17-437 Refunding and refunding bonds; authority to
refund bonds; limitation on refunding; exchange or surrender of
bonds held by state for purposes of refunding

Wyoming Statutes

§ 21-17-437 — Refunding and refunding bonds; authority to refund bonds; limitation on refunding; exchange or surrender of bonds held by state for purposes of refunding

Wyoming § 21-17-437

Title 21Education

Ch. 17UNIVERSITY OF WYOMING

Art. 4CAPITAL CONSTRUCTION PROJECTS

This text of Wyoming § 21-17-437 (Refunding and refunding bonds; authority to refund bonds; limitation on refunding; exchange or surrender of bonds held by state for purposes of refunding) 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. § 21-17-437 (2026).

Text

(a)Any bonds of the board or university payable from any pledged revenues may be refunded by the adoption of a resolution or resolutions by the board and by any trust indenture or other proceedings appertaining thereto, authorizing the issuance of bonds:

(i)To refund, pay, and discharge all or any part of the outstanding bonds of any one (1) or more or all outstanding issues, including any interest thereon in arrears, or about to become due for any period not exceeding three (3) years from the date of the refunding bonds;

(ii)For the purpose of reducing interest costs or effecting other economies;

(iii)For the purpose of modifying or eliminating restrictive contractual limitations appertaining to the issuance of additional bonds, otherwise concerning the outstanding bonds, or to any fa

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(a) Any bonds of the board or university payable from any
pledged revenues may be refunded by the adoption of a resolution
or resolutions by the board and by any trust indenture or other
proceedings appertaining thereto, authorizing the issuance of
bonds:
(i) To refund, pay, and discharge all or any part of
the outstanding bonds of any one (1) or more or all outstanding
issues, including any interest thereon in arrears, or about to
become due for any period not exceeding three (3) years from the
date of the refunding bonds;
(ii) For the purpose of reducing interest costs or
effecting other economies;
(iii) For the purpose of modifying or eliminating
restrictive contractual limitations appertaining to the issuance
of additional bonds, otherwise concerning the outstanding bonds,
or to any facilities appertaining thereto; or
(iv) For any combination thereof.
(b) The board may not call bonds now or hereafter
outstanding for prior redemption in order to refund the bonds or
in order to pay them prior to their stated maturities, unless
the right to call the bonds for prior redemption was
specifically reserved and stated in the bonds at the time of
their issuance, and all conditions with respect to the manner,
price and time applicable to the prior redemption as set forth
in the proceedings authorizing the outstanding bonds are
strictly observed. No holder of an outstanding bond may be
compelled to surrender the bond for refunding prior to its
stated maturity or optional date of prior redemption expressly
reserved therein even though the refunding might result in
financial benefit to the board or university.
(c) Notwithstanding the provisions of subsection (b) of
this section or of any other law, this state, acting by and
through the governor with the approval of the state treasurer
and the attorney general, may agree with the board to exchange
any outstanding bonds of the board and held by the state, or any
agency, corporation, department or other instrumentality of the
state, for refunding bonds of the board, or otherwise to
surrender the outstanding bonds to the board for refunding at
such price and time and otherwise upon such conditions and other
terms and in such manner as may be mutually agreeable at any
time prior to their respective maturities or to any date as of
which the board has the right and option to call the outstanding
bonds for prior redemption as expressly provided in the
outstanding bonds and any resolution, trust indenture or other
proceedings authorizing their issuance.