41-2-209 through 41-2-211;

41-2-209 through 41-2-211;

(ii) Approve the final design, plans, specifications and construction schedules for the project facilities and development of the water supplies, construction of new interception lines, collection, storage and transmission facilities;

(iii) Approve changes, analysis and plans of the city of Cheyenne for establishing, operating and maintaining the project; and

(iv) Prepare and obtain conveyances and approval by the state engineer of all water rights and permits from the city of Cheyenne to the state in connection with Stage III of the Little Snake River water management project. Stage III is specifically defined in W.S. 41-2-204(a)(iv) and (v) [41-2-204(a)(iv)] which conveyances shall be held in escrow until all of the Stage II project has been funded, at which time the documents shall be released to the state.

(Laws 1980, Ch. 72, § 1; Renumbered from 41-2-209 by Laws 2009, Ch. 168, § 401.)

99-99-210. Projects authorized; financing; excess water.  (a) The following construction is authorized within the Stage II project:

(i) Enlargement of Rob Roy Reservoir, estimated to cost eighteen million dollars ($18,000,000.00);

(ii) Little Snake River collection system, estimated to cost twenty-five million dollars ($25,000,000.00);

(iii) Enlargement of Hog Park Reservoir, estimated to cost thirteen million dollars ($13,000,000.00);

(iv) Hog Park to Encampment River pipeline, estimated to cost two million dollars ($2,000,000.00).

(b) The projects enumerated in subsection (a) of this section shall be financed as follows:

(i) The city of Cheyenne shall finance the total cost of the project except for the portion funded by the state under paragraph (ii) of this subsection;

(ii) The state shall finance twenty million dollars ($20,000,000.00) of the total cost of the projects under paragraphs (a)(i), (ii), (iii) and (iv) of this section as provided by subsection (d) of this section.

(c) The state loan and investment board with the advice of the director of the department of commerce is authorized to loan not more than thirty-five million three hundred sixty thousand nine hundred sixty-five dollars ($35,360,965.00) from the permanent mineral trust fund to the city of Cheyenne or as much thereof as deemed necessary by the department of commerce to design and construct the portion of Stage II of the Little Snake River water management project provided by subsection (a) of this section. The revenue shall not be advanced until:

(i) The qualified electors of the city of Cheyenne approve creation of debt totaling the amount authorized by this subsection and approve the pledging of the revenue from the operation of the water project as the primary source of repayment of the debt as evidenced by the issuance of general obligation bonds to the state of Wyoming;

(ii) The city of Cheyenne submits a financing plan designed to reimburse the state of Wyoming subject to the following specific conditions:  (A) The city will pay interest charges computed at a rate which will be no more than one-half percent (.5%) below the rate for which the city of Cheyenne could sell the general obligation bonds on the open market, and shall not be less than five percent (5%) per annum. This rate determination shall be made by the state loan and investment board;

(B) Principal payments may be deferred on request of the city with the approval of the state loan and investment board but not beyond the original final payment date set by the state loan and investment board;

(C) The city shall apply available revenue from secondary sources of revenue, designated within the financing plan, to the repayment of the loan.

(iii) Repealed by Laws 1986, ch. 114, § 3.

(iv) A rate study is conducted for the city by a professional municipal finance and rate firm;

(v) The city agrees to mortgage to the state all facilities constructed with funds provided by the state loan and investment board and assign all easements, rights-of-way, water rights and permits as approved by the state engineer appurtenant thereto, in such form and to such extent as is required by the Wyoming attorney general. The conveyances shall be held in escrow. The state engineer shall not change the priority date of the water rights and permits as a result of this conveyance or escrow. Upon payment in full of the loan to the state of Wyoming, the conveyances shall be returned to the city of Cheyenne.

(vi) Repealed by Laws 1986, ch. 114, § 3.

(d) The state treasurer shall pay not to exceed twenty million dollars ($20,000,000.00) from the Wyoming water development account provided by W.S. 39-14-111(j) to the city of Cheyenne as deemed necessary by the department of commerce as provided by paragraph (b)(ii) of this section. The payments are grants and not loans to the city of Cheyenne and shall not:

(i) Be disbursed until the election pursuant to W.S.