This bill amends existing laws regarding special districts in Wyoming, specifically addressing bond elections for improvement and service districts, as well as water and sewer districts. It introduces a provision that allows these districts to submit propositions for issuing bonds to their qualified voters without requiring an election under certain conditions. Notably, any agreement to repay funds borrowed from federal or state entities will not be classified as a bond and will not necessitate an election if the repayment is solely from revenues generated by the associated improvement or service, and if the security for the loan is limited to those revenues or assets.

Additionally, the bill clarifies that no bonds will be issued if an agreement to repay borrowed funds is established under the new provisions. The effective date for this act is set for July 1, 2024, and it explicitly states that it will not affect any bonds, notes, or obligations that were issued or created prior to this date. Overall, the bill aims to streamline the process for special districts to finance improvements and services while ensuring that certain financial agreements are exempt from the traditional bond election requirements.

Statutes affected:
24LSO-0234 v0.5: 18-12-120, 41-10-128