Skip to main content
CourtGPT logoCourtGPT
Directory
Law
For Attorneys
Blog
AppointmentsSign InSign Up
Section 9-1-418 - Legislative Stabilization Reserve Account Loans; Maximum Amount; Repayment — Wyoming Law | CourtGPT
  1. Home/
  2. Laws/
  3. Wyoming/
  4. Title 9 - Administration of the Government/
  5. Chapter 1 - State Officers/
  6. Article 4 - Auditor and Treasurer/
  7. Section 9-1-418 - Legislative Stabilization Reserve Account Loans; Maximum Amount; Repayment
Wyoming Legal Code

Section 9-1-418 - Legislative Stabilization Reserve Account Loans; Maximum Amount; Repayment

Ask AI about this
9-1-418. Legislative stabilization reserve account loans; maximum amount; repayment. The state auditor is authorized to borrow from the legislative stabilization reserve account an amount not to exceed one hundred million dollars ($100,000,000.00) at any one (1) time to meet the obligations of the department of transportation which come due prior to the receipt of revenues. The amounts borrowed under this section shall be repaid as soon as the anticipated revenue is received. Interest on the unpaid balance shall be equal to the rate of return earned on the legislative stabilization reserve account in the previous fiscal year. These loans shall not be used to fund shortages caused by expenditures exceeding projected revenues but are to be used only to fund temporary shortages caused by meeting obligations which come due prior to receipt of revenues.