§ 37-5-607 — Powers; duties; limitations

Wyoming § 37-5-607

• Jurisdiction: Wyoming
• Title 37: Public Utilities
• Ch. 5: WYOMING PIPELINE AUTHORITY AND WYOMING
• Art. 6: FINANCING OF OTHER PROJECTS

Text

(a) The authority has the powers granted by W.S. 37-5-501
through 37-5-509 as necessary to carry out the purposes of this
article, including the power to hire technical consultants,
financial advisors and legal advisors and specifically including
the powers granted by W.S. 37-5-504(a)(ii). In addition to the
powers otherwise granted to the authority, the authority shall
have the power to:
(i) Enter into loan or other agreements with respect
to one (1) or more projects, energy transmission infrastructure,
energy export facilities, pipelines or systems upon terms and
conditions the authority considers advisable;
(ii) Make and execute agreements, contracts and other
instruments necessary or convenient in the exercise of its
powers and functions, including contracts with any individual,
firm, corporation, governmental agency or other entity.
(b) The authority may assess and collect fees that are
nonrefundable from applicants seeking to obtain authority
financing of an energy transmission infrastructure project,
energy export facility, pipeline, system or other project in
total amounts not to exceed five hundred thousand dollars
($500,000.00), which shall be credited to the state general
fund.
(c) The authority shall maintain such records and accounts
of revenues and expenditures as required by the director of the
state department of audit. The director of the state department
of audit or his designee shall conduct an annual financial and
legal compliance audit of the accounts of the authority and file
copies of the audit with the governor and the legislature.
(d) The authority shall require that any project owner
receiving a loan under this article shall maintain records and
accounts relating to the receipt and disbursements of loan
proceeds, transportation costs and information on energy and
associated natural resource sales and deliveries and make the
records available to the state auditor for inspection.
(e) The sole recourse of any party contracting with the
authority shall be against the authority, and there shall be no
cause of action against the state, or any county, municipality
or other political subdivision of the state.