ORIGINAL SENATE

FILE NO. 0058

ENROLLED ACT NO. 32, SENATE

FIFTY-SIXTH LEGISLATURE OF THE STATE OF WYOMING

2001 GENERAL SESSION

AN ACT relating to school capital construction; modifying
capital lease grant payment computations as specified; and
providing for an effective date.

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

Section 1.  W.S. 21-15-105(g)(ii) is amended to read:

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

(g) In addition to any payments provided under
subsections (a) through (e) of this section, a district
shall receive a grant annually not later than September 1
as provided in this subsection from the school capital
construction account if the district finances school
capital facilities through capital leasing, and the
district is required to make lease payments in order to use
the facilities. Payments to school districts under this
subsection shall be used by the district solely for the
purpose of making capital lease payments for facilities for
which agreements to lease the facilities have been executed
prior to January 1, 1999 and payments due during the school
year for which the grant is to be made. For the purposes of
this section, "capital leasing" means the lease of
facilities by a school district from a nonprofit
corporation or a joint powers board which corporation or
board used the proceeds from revenue bonds or certificates
of participation to fund construction of the facilities.
The payments under this subsection shall be subject to the
following:

(ii) The grant shall:

(A) Be an amount equal to the lease payment
times the proportion determined under W.S. 21-15-105 as if

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it applied to all general obligation and revenue bonds for
the purposes of this subsection;

(B) Provided that subsection (d) of this
section shall not apply to the determination of the
proportion of bonded indebtedness used in computing the
grant amount under subparagraph (g)(ii)(A) of this section.

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

(END)

Speaker of the House President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the Senate.

Chief Clerk

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