§ 35-2-709 — Bond issue

Wyoming § 35-2-709

• Jurisdiction: Wyoming
• Title 35: Public Health and Safety
• Ch. 2: HOSPITALS, HEALTH CARE FACILITIES AND HEALTH
• Art. 7: RURAL HEALTH CARE DISTRICTS

Text

(a) The board of county commissioners at the request of
the board of trustees of any rural health care district may
submit to the electors of the district the question of whether
the board of trustees shall be authorized to issue the bonds of
the district in a certain amount, not to exceed two percent (2%)
of the assessed value of the taxable property in the district,
and bearing a certain rate of interest, not exceeding ten
percent (10%) per annum, payable and redeemable at a certain
time, not exceeding twenty-five (25) years, for the purchase of
real property, for the construction or purchase of improvements
and for equipment for rural health care purposes or senior
health care purposes as defined in W.S. 35-2-1201(b). The
question shall be submitted at an election called, conducted,
canvassed and returned in the manner provided for bond elections
by the Political Subdivision Bond Election Law, W.S. 22-21-101
through 22-21-112.
(b) If the proposal to issue bonds is approved, the board
of trustees may issue bonds in such form as the board directs,
provided any bonds issued under this article shall be in
registered or bearer form and shall otherwise comply with W.S.
16-5-501 through 16-5-504. The board of trustees shall give
notice by publication in some newspaper published in the
counties in which the district is located of its intention to
issue and negotiate the bonds and to invite bidders therefor.
In no case shall the bonds be sold for less than their full or
par value and the accrued interest thereon at the time of their
delivery. The trustees are authorized to reject any bids, and to
sell the bonds at private sale, if they deem it for the best
interests of the district.
(c) The full faith and credit of each rural health care
district is solemnly pledged for the payment of the interest and
the redemption of the principal of all bonds which are issued by
the district.
(d) The county treasurer where the district's funds are
kept may pay out of any monies belonging to the district tax
fund, the interest and the principal upon any bonds issued by
the district, when due, upon presentation at his office of the
proper coupon or bond, which shall show the amount due. Each
coupon shall also show the number of the bond to which it
belonged, and all bonds and coupons so paid, shall be reported
to the district trustees at their first regular meeting
thereafter.