SF0162 - School districts-building fund.

 

2001

State of Wyoming

01LSO-0394.E1 ENGROSSED

 

 

 

SENATE FILE NO.  SF0162

 

 

School districts-building fund.

 

Sponsored by:  Senator(s) Vasey

 

 

A BILL

 

for

 

 1  AN ACT relating to school districts; modifying the purpose
 2  of a district building fund proposition as specified;
 3  authorizing mill levy supplement payments for building fund
 4  levies as specified; and providing for an effective date.

 5 

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

 7 

 8         Section 1.  W.S. 21-13-501(a) and 21-15-105 by
 9  creating a new paragraph (h) are amended to read:

10 

11         21-13-501.  Board of trustees of any school district
12  authorized to hold election; building or repayment fund
13  generally.

14 

15         (a)  The board of trustees of any school district may,
16  whenever a majority thereof so decide, submit to the
17  electors of the district the question whether the board

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 1  shall be authorized to start a building fund of a certain
 2  amount, to be raised within a certain number of years, for
 3  the purpose of acquiring land, erection, enlargement, and
 4  equipping and repair or renovation of school buildings,
 5  teacherages, garages or other such buildings as may be
 6  needed for school purposes therein, or submit the question
 7  of whether the board is authorized to direct the county
 8  treasurer to annually levy against the property of the
 9  district to pay off existing school district or school
10  facility authority refunding bonds of a certain amount, not
11  to exceed four percent (4%) on the assessed value of the
12  taxable property therein as shown by the last preceding
13  general assessment. The fund and any interest accruing
14  thereto shall be held by the county treasurer for the
15  purposes herein specified and shall be used for no other
16  purpose. The fund may be voted and raised in addition to
17  the existing bonded indebtedness of the district.

18 

19         21-15-105.  Bonded indebtedness mill levy supplement.

20 

21         (h)  In addition to any payments provided under
22  subsections (a) through (g) of this section, a district
23  shall receive an annual payment as provided by this
24  subsection for any year the district levies mills to

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 1  support a building fund under W.S. 21-13-501. Payments to
 2  school districts under this subsection shall be used by the
 3  district solely for purposes of the building fund as
 4  specified in the proposition submitted to the district
 5  voters. Payments under this subsection shall be computed in
 6  accordance with subsections (c) and (d) of this section and
 7  the amount generated under the levy imposed pursuant to
 8  W.S. 21-13-501 for the preceding year shall be treated as
 9  bonded indebtedness payments for purposes of computations
10  under subsection (c) of this section.

11 

12         Section 2.  This act is effective July 1, 2001.

13 

14                         (END)

 

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