Funding and Refunding Bonds

Wyo. Stat. Ann. tit. 15, ch. 8
in effect

Wyo. Stat. Ann. § 15-8-101 When authorized; conditions; signatures; sale; amount required.

(a) If any city or town creates any indebtedness not in excess of the taxes for the current year to pay expenses incurred in repairing or restoring improvements made necessary by any casualty or accident happening after the annual appropriation is made, or if any judgment is rendered against any city or town, or if any city or town has outstanding any other lawful indebtedness, the governing body may pay, redeem, fund or refund that judgment or indebtedness by issuing the negotiable coupon bonds of the city or town if it can be done at a lower rate of interest, or to the profit and benefit of the city or town. (b) The bonds shall: (i) Be in denominations as fixed by ordinance; (ii) Be numbered from one (1) upward; (iii) Be payable within thirty (30) years from the date of issue; (iv) Bear interest at a rate designated by the governing body; and (v) Be payable semiannually at the office of the city or town treasurer, or at any other place designated by the governing body. (c) The bonds may become due serially or be redeemable as specified in the ordinance. They shall be signed by the mayor and countersigned by the clerk and the treasurer of the city or town and may be sold and disposed of in an amount sufficient for the purpose for which they were issued, as determined by the governing body. No bonds may be sold for less than their par value.

Wyo. Stat. Ann. § 15-8-102 Register; contents; cancellation.

(a) The bonds shall be registered by the city or town treasurer in a book kept for that purpose. The register shall show: (i) The date of issue; (ii) The number; (iii) The amount; (iv) To whom the bonds were issued; and (v) The date of redemption and payment. (b) The treasurer shall cause the word "paid" to be cut in the bond and coupon when they are paid.

Wyo. Stat. Ann. § 15-8-103 Tax for interest and redemption.

A tax shall be levied and collected annually on all the taxable property within the city or town sufficient to pay the interest on the bonds and redeem them as they become due. The tax shall be levied and collected the same as other taxes of the city or town.

Wyo. Stat. Ann. § 15-8-104 Order of redemption.

If serial bonds are issued the city or town shall redeem them as they become due. If redeemable bonds are issued the city or town, during the last half of the term the bonds have to run, shall redeem annually a portion of the principal equal to a sum produced by taking the whole amount of bonds outstanding and dividing it by the number of years the bonds then have to run.

Wyo. Stat. Ann. § 15-8-105 Sale or exchange; consideration acceptable; proceeds; redemption notice.

The bonds shall be sold for cash, or may be sold or exchanged for any other city or town indebtedness for the redemption of which they were issued, but no bonds may be sold or exchanged for less than their par value and the accrued interest at the time of disposal. No city or town indebtedness may be redeemed for more than its face value and the interest due. If part of the bonds are sold for money, the proceeds shall be applied exclusively toward the redemption of the indebtedness for which the bonds were issued. The treasurer of the city or town shall give notice of his readiness to redeem the indebtedness and that the interest on it shall cease after thirty (30) days from the date of the notice.

Wyo. Stat. Ann. § 15-8-106 Ordinance required.

The governing body of any city or town desiring to issue bonds pursuant to this chapter shall provide for them by ordinance.
Source: WY Statutes (Official Site)URL: https://wyoleg.gov/statutes/compress/title15.pdfFetched: 10/4/2026
Wyo. Stat. Ann. tit. 15, ch. 8 — Funding and Refunding Bonds | Wyoming Statutes Annotated — Wyoming | Corpus