§ 15-7-504 — Refunding revenue bonds; purpose; required procedure; exceptions thereto

Wyoming § 15-7-504

• Jurisdiction: Wyoming
• Title 15: Cities and Towns
• Ch. 7: PUBLIC IMPROVEMENTS
• Art. 5: SEWERAGE SYSTEMS

Text

(a) Any city or town may issue refunding revenue bonds:
(i) To refund and discharge or extend or shorten the
maturities of all or any part of the outstanding bonds of any
one (1) or more issues, including any interest thereon in
arrears or about to become due;
(ii) For the purpose of reducing interest costs or
effecting other economies; or
(iii) For the purpose of modifying or eliminating
restrictive contractual limitations as pertained to the issues
of additional bonds, otherwise concerning the outstanding bonds
or to any facilities as pertained thereto.
(b) Any refunding specified in subsection (a) of this
section shall be accomplished in the manner prescribed by W.S.
16-5-102 through 16-5-119, as from time to time amended, except
that refunding revenue bonds so authorized do not constitute a
debt of the city or town within the meaning of any
constitutional or statutory limitation, nor shall any tax be
levied or other revenue be pledged for the payment thereof,
except for the special funds authorized under this article.