§ 37-5-506 — Use of net revenues

Wyoming § 37-5-506

• Jurisdiction: Wyoming
• Title 37: Public Utilities
• Ch. 5: WYOMING PIPELINE AUTHORITY AND WYOMING
• Art. 5: WYOMING ENERGY AUTHORITY

Text

(a) The authority, acting alone or in cooperation with any
agency of the state of Wyoming, may use and employ any net
revenues derived from a system or facility authorized in this
article and from any other source, after providing for all costs
of maintenance and operation of the system or facility and after
making the required principal and interest payments on any
revenue bonds issued hereunder and any other payments provided
in any resolution authorizing the issuance and sale of revenue
bonds and obligations, to extend and improve the system or
facility as the authority may determine to be warranted by any
need for additional intrastate transportation or energy
transmission facilities.
(b) Revenues derived from the issuance of bonds for the
purpose of purchasing pipeline capacity as authorized under W.S.
37-5-505(k) shall be used for such purchases and to make
principal and interest payments on such bonds as provided by the
authority in the resolution authorizing the issuance of the
revenue bonds.
(c) If the authority determines that no need for
additional transportation or energy transmission facilities
exists and after the administrative expenses of the authority
are paid, net revenues derived under this article shall be paid
to the state treasurer for credit to the state general fund.