§ 37-7-212 — Authority of district court concerning bonds; bonds to comply with federal laws; power system; state property

Wyoming § 37-7-212

• Jurisdiction: Wyoming
• Title 37: Public Utilities
• Ch. 7: POWER DISTRICTS
• Art. 2: REVENUE BOND POWER DISTRICTS

Text

The district court having jurisdiction over said power district
shall have general, full, and complete authority to authorize
the issuance of such revenue bonds, to make such order and
decree from time to time as may be necessary to provide for the
raising and accumulation of sufficient revenue and funds for the
payment of all principal and interest on said bonds, as same
becomes due and payable and after any order or decree shall have
been made by any district court of this state authorizing the
issuance of any revenue bonds under this act, such district
court shall retain jurisdiction until all of said bonds and the
principal and interest thereon shall have been paid in full, to
appoint a receiver on the application or petition of the owner
or owners of said bonds or any of them, to collect the rates due
said power district for services furnished and to conserve the
same and apply the same to the payment of said bonded
indebtedness, principal and interest, under the orders of such
court; and in all such matters the court shall be deemed to have
general jurisdiction to do any and all things necessary to carry
out the intent and purpose of this act and to so provide that
the principal and interest on bonds issued hereunder shall be
paid in full out of the revenue from the system or power plant
or plants. It is the intent of this act, and there is hereby
granted to the district court such complete and full
jurisdiction and powers over such proceedings and bond issues
that the district court in authorizing the issuance of any such
bonds may provide therein such terms and conditions as will
fully comply with any federal law or laws of the United States
of America relating thereto, and particularly with the statute
or statutes relating to public works so-called and revenue bonds
to be issued for such purposes as well as with any federal law
or laws appertaining to the reconstruction finance corporation
and its powers. Any such power system or plant, electric light
plant, power plant, power lines, transmission lines,
distributing system, or other property shall be the property of
the state of Wyoming and under its authority and control for the
benefit of the users of the electric power developed or
distributed thereby.