Please Note: The following summaries of legislation enacted during the 2004 Legislative Session were prepared by the Legal Services Division Staff for internal use by the Legislative Service Office.

This report is not an official publication of the Wyoming Legislature and does not purport to be an official statement of legislative intent concerning any measure enacted by the Legislature.

The bill summaries contained in this report were prepared as an aid to locating enacted legislation and as a brief recap of the major provisions of each bill. While the information provided in these summaries is accurate, the summaries are not intended as a detailed abstract and reference should be made to the enacted bills for more complete information.

Bill No.: HB0080 Drafter: JMC

LSO No.: 04LSO-0197.E2 Effective Date: 7/1/2004

Enrolled Act No.: HEA0018

Chapter No.: 18

Prime Sponsor: Joint Corporations, Elections and Political Subdivisions Interim Committee

Catch Title: Electric power-revenue bonding.

Subject: Issuing revenue bonds for municipal power purposes.

Summary/Major Elements:

· Current law allows municipalities to issue revenue bonds for a variety of development projects, not including electrical systems.

· Current law does, however, allow municipalities to form joint powers boards to expand, finance or operate electrical systems owned by the municipalities prior to March 1, 1975, and to construct and operate any facilities located within or without the state for the generation or transmission of electrical energy to supply those electrical systems.

· This bill authorizes the municipalities that have owned their electrical systems prior to March 1, 1975 to directly issue revenue bonds for generation, transmission or distribution purposes. The bill specifies that the bonds shall not be issued to purchase or acquire an existing electrical system.