§ 35-2-710 — Securities for acquiring and improving hospitals, nursing homes and related facilities; issuance authorized; lines of credit and tax and revenue anticipation notes

Wyoming § 35-2-710

• 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 trustees of a rural health care district
established pursuant to W.S. 35-2-701, are authorized to issue
revenue bonds, notes and warrants or other revenue securities
for the purpose of acquiring, erecting, constructing,
reconstructing, improving, remodeling, furnishing and equipping
hospitals, nursing homes and related facilities including
facilities for senior health care as defined under W.S. 35-2-
1201(b), and acquiring a site or sites as the trustees may
determine.
(b) If there are no funds available to the trustees of a
rural health care district before receipt of property taxes, the
trustees may issue warrants in anticipation of the receipt of
property taxes for payment of operational expenses. The
aggregate amount of the warrants shall not exceed the total
amount of taxes levied. The warrants shall be payable solely
from the collected taxes.
(c) The trustees of a rural health care district may
obtain financing for its operations by entering into agreements
for lines of credit with any financial institution as defined in
W.S. 13-1-101(a)(ix). The lines of credit may either be
unsecured or secured by a pledge of revenues anticipated to be
received during the current fiscal year.
(d) In addition to its authority to issue warrants under
this section, the trustees of a rural health care district may
issue tax and revenue anticipation notes in amounts not to
exceed eighty percent (80%) of the total amount of taxes levied
for operation of the district for the fiscal year during which
the notes are issued when the trustees determine that
insufficient funds are available to meet the obligations of the
district during any fiscal year. A rural health care district
shall not enter into agreements or issue instruments of the type
allowed by this section for any fiscal year until all debts
financed by any agreement or instrument for any prior fiscal
year have been paid in full. Tax and revenue anticipation notes
issued under this subsection are subject to the procedural
requirements of W.S. 9-4-1103 through 9-4-1105 for state tax and
revenue anticipation notes, except:
(i) The authority of the state treasurer provided in
W.S. 9-4-1103 through 9-4-1105 shall be exercised by the
trustees issuing the notes; and
(ii) Notwithstanding W.S. 9-4-1105(a), investments of
the proceeds of the notes by the trustees are limited to those
investments authorized under W.S. 9-4-831.