§ 18-4-201 — Election for establishment; mill levy; custodian; restriction on use; investment

Wyoming § 18-4-201

• Jurisdiction: Wyoming
• Title 18: Counties
• Ch. 4: FINANCE
• Art. 2: BUILDING FUND

Text

(a) Each board of county commissioners may by resolution
provide for an election to decide whether a building fund of a
specified amount to be raised within a specified time not
exceeding ten (10) years, should be accumulated to erect, add to
or improve county buildings. After the resolution has been made
the proposal shall be submitted on a separate ballot to the
qualified electors of the county, 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. The ballot shall set forth in
concise language the purpose for establishing the building fund
and shall permit each voter to vote "For the establishment of a
building fund" or "Against the establishment of a building
fund". If a majority is in favor of the proposal to establish
the building fund the proposal carries, and if a majority is
against the proposal it fails.
(b) If the proposal carries the board of county
commissioners may levy a tax to raise money directly for the
building fund, providing this levy and other county levies do
not exceed the constitutional limitation in addition:
(i) The funds so raised shall be kept by the county
treasurer until sufficient to commence the building, addition or
improvement;
(ii) The building fund shall be held by the county
treasurer for the purpose specified and shall not be used for
any other purpose;
(iii) The county commissioners may invest these funds
to realize the greatest amount of interest as provided by W.S.