18-12-120. Bond elections; resolution for submission of proposition to voters. (a) By resolution of its board a district may submit to its qualified voters, by mail ballot or at an election on a date authorized under W.S. 22-21-103, as determined by the board of county commissioners, the proposition of issuing bonds pursuant to this act to provide funds for the acquisition, construction, improving or financing of improvements as well as performing services for the benefit of the residents of the district, including any or all expenses incidental thereto or connected therewith. (b) Notwithstanding subsection (a) of this section and the provisions of W.S. 22-21-101 through 22-21-112, any document executed by the board of a district evidencing an agreement to repay funds borrowed from the United States of America, the state of Wyoming or from any subdivision, agency or department of either the United States or the state of Wyoming, shall not be considered a bond, and shall not require an election under this chapter when: (i) Repayment is to be made solely from revenues generated by the service with which a financed improvement or service is associated; and (ii) Security for the loan election under this chapter when: (i) Repayment is to be made solely from revenues generated by the service with which a financed improvement or service is associated; and (ii) Security for the loan or borrowed funds is restricted to a claim on the revenues generated from the service or to a claim on the assets of the improvement or service.
Wyoming Legal Code