School district bonds.

11LSO-0371.L1

FISCAL NOTE

There is the possibility, albeit remote, of an expenditure increase from the common school account in the permanent land fund to make the bond payments if a district defaulted on a covered bond payment.  Provisions within statute require payback by the district of these expenditures, including interest, if the supplemental bond coverage were ever to be exercised.  These amounts would be repaid from the district’s next major maintenance payments under W.S. 21-15-109 and the next payments from the school foundation program account under W.S. 21-13-313.

Prepared by:   Alex Kean, LSO Phone: 777-7881

(Information provided by: Sharon Garland, State Treasurer’s Office Phone:777-7475 Amy Copeland, Dept. of Ed Phone:777-6000 Jeanne Norman, Office of State Lands and Investments Phone:777-6644)