Wyoming § 16-5-302 Issuance of bonds in series; discharge

Wyoming Statutes

§ 16-5-302 — Issuance of bonds in series; discharge

Wyoming·Title 16 City, County, State and Local Powers·Ch. 5 PUBLIC SECURITIES·Art. 3 DEBT LIMITATION AND BOND REDEMPTION

(a)Whenever the issuance of bonds by the state, or any county, city, town, school district or high school district, is lawful, the board or other public body having authority to issue the bonds may divide the issues into series so that:

(i)Substantially equal amounts of the indebtedness mature annually;

(ii)Substantially equal annual tax levies are required for the payment of principal and interest of the bonds; or

(iii)Substantially equal annual tax levies are required for the payment of principal and interest of all outstanding bonds of the state or subdivision thereof issuing the bonds.

(b)The bonds of each series shall be due and payable at a definite date within the period permitted by law for the discharge of the indebtedness.

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(a) Whenever the issuance of bonds by the state, or any
county, city, town, school district or high school district, is
lawful, the board or other public body having authority to issue
the bonds may divide the issues into series so that:
(i) Substantially equal amounts of the indebtedness
mature annually;
(ii) Substantially equal annual tax levies are
required for the payment of principal and interest of the bonds;
or
(iii) Substantially equal annual tax levies are
required for the payment of principal and interest of all
outstanding bonds of the state or subdivision thereof issuing
the bonds.
(b) The bonds of each series shall be due and payable at a
definite date within the period permitted by law for the
discharge of the indebtedness.

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