SF0058 - School capcon-capital lease grant payments.
2001 |
State of Wyoming |
01LSO-0010 |
SENATE FILE NO. SF0058
School capcon-capital lease grant payments.
Sponsored by: Senator(s) Decaria
A BILL
for
1 AN ACT relating to
school capital construction; modifying
2
capital lease grant payment computations as specified; and
3 providing
for an effective date.
4
5 Be It Enacted by the Legislature of the State of Wyoming:
6
7 Section 1. W.S. 21-15-105(g)(ii) is amended to read:
8
9 21-15-105. Bonded indebtedness mill levy supplement.
10
11 (g) In addition
to any payments provided under
12 subsections (a) through (e) of this section,
a district
13 shall receive a grant annually not later
than September 1
14 as provided in this subsection from the
school capital
15 construction account if the district finances
school
16 capital facilities through capital leasing,
and the
17 district is required to make lease payments
in order to use
Page 1
1 the
facilities. Payments to school districts under this
2
subsection shall be used by the district solely for the
3
purpose of making capital lease payments for facilities for
4
which agreements to lease the facilities have been executed
5
prior to January 1, 1999 and payments due during the school
6
year for which the grant is to be made. For the purposes of
7
this section, "capital leasing" means the lease of
8
facilities by a school district from a nonprofit
9
corporation or a joint powers board which corporation or
10 board used the proceeds from revenue bonds
or certificates
11 of participation to fund construction of the
facilities.
12 The payments under this subsection shall be
subject to the
13 following:
14
15 (ii) The grant shall:
16
17 (A) Be an amount equal to the lease payment
18 times the proportion determined under W.S.
21-15-105 as if
19 it applied to all general obligation and
revenue bonds for
20 the purposes of this subsection;
21
22 (B) Provided that subsection (d) of this
23 section
shall not apply to the determination of the
Page 2
1 proportion of bonded indebtedness used in computing the
2 grant amount under subparagraph
(g)(ii)(A) of this section.
3
4 Section 2. This act is effective July 1, 2001.
5
6 (END)
Page 3