SF0018 - WCDA-financing care facilities.

 

2001

State of Wyoming

01LSO-0247.E1 ENGROSSED

 

 

 

SENATE FILE NO.  SF0018

 

 

WCDA-financing care facilities.

 

Sponsored by:  Select Committee on Capital Financing and
Investments

 

 

A BILL

 

for

 

 1  AN ACT relating to the authority of the Wyoming community
 2  development authority to finance care facilities; modifying
 3  definition of care facilities; providing authority to
 4  finance care facilities as specified; conforming current
 5  provisions and providing additional bonding authority; and
 6  providing for an effective date.

 7 

 8  Be It Enacted by the Legislature of the State of Wyoming:

 9 

10         Section 1. W.S. 9-7-102(a)(ii), 9-7-103(a)(viii), (x)
11  and (xi), 9-7-105(a) by creating a new paragraph (xxii) and
12  9-7-108 by creating a new subsection (j) are amended to
13  read:

14 

15         9-7-102.  Legislative findings.

16 

 

Page  1

 

 

 

 1         (a)  It is declared that:

 2 

 3              (ii)  It is in the public interest of the
 4  citizens of this state to promote the economic welfare of
 5  the state and its residents by increasing employment,
 6  stimulating economic activity, augmenting sources of tax
 7  revenue, fostering economic stability, furthering health
 8  care and improving the balance of the state's economy;

 9 

10         9-7-103.  Definitions.

11 

12         (a)  As used in this act:

13 

14              (viii)  "Intermediate Care facility" means a
15  facility licensed or regulated by the state or a
16  municipality or other political subdivision in which the
17  facility is located for the accommodation of persons who
18  because of incapacitating infirmities require minimum but
19  continuous care any governmental or nonprofit hospital and
20  may include any land, building, other improvements or
21  equipment and all real and personal, tangible or
22  intangible, property in connection therewith, or any
23  interest therein or combination thereof;

24 

 

Page  2

 

 

 

 1              (x)  "Project" means a care facility or a
 2  specific residential housing project including lands,
 3  buildings, improvements, real and personal properties or
 4  any interest therein or any combination thereof, an
 5  intermediate care facility any land, building, other
 6  improvements or equipment and all real and personal,
 7  tangible or intangible, property in connection therewith,
 8  or any interest therein or combination thereof, or any
 9  portion of a project;

10 

11              (xi)  "Project cost" means the sum total of costs
12  which the authority deems necessary for financing and
13  carrying out a housing project;

14 

15         9-7-105.  Community development authority; general
16  powers and duties.

17 

18         (a)  For the purposes of this act, the authority may:

19 

20              (xxii)  Make loans to mortgage lenders to finance
21  projects, including construction loans and advances, under
22  terms and conditions, and with security therefore, as the
23  authority deems appropriate.

24 

 

Page  3

 

 

 

 1         9-7-108.  Community development authority; revenue
 2  bonds; amount authorized.

 3 

 4         (j)  In addition to the bonds authorized by subsection
 5  (h) of this section, the authority may issue and have
 6  outstanding additional bonds for care facility projects in
 7  an aggregate amount of up to two hundred fifty million
 8  dollars ($250,000,000.00).

 9 

10         Section 2.  W.S. 9-7-103(a)(iv)(C) is repealed.

11 

12         Section 3.  This act is effective immediately upon
13  completion of all acts necessary for a bill to become law
14  as provided by Article 4, Section 8 of the Wyoming
15  Constitution.

16 

17                         (END)

 

Page  4