11-34-131. Wyoming transportation enterprise account; use thereof.
(a) The transportation enterprise account is established to be used by the state loan and investment board to finance transportation projects of benefit to the general public as defined in this section. The transportation enterprise account shall be administered by the state loan and investment board, subject to recommendation and appropriation by the legislature, for the purpose of fostering transportation investments in projects of benefit to the general public within the state. The state loan and investment board shall:
(i) Adopt rules and regulations to implement the purposes of this section, considering other funds available including department of transportation funds; and
(ii) Distribute funds to eligible grantees only, pursuant to appropriation of funds from the transportation enterprise fund by the legislature, subsection (c) of this section, federal requirements and rules and regulations of the state loan and investment board.
(b) The transportation enterprise account shall receive monies from mineral royalty payments as provided in W.S. 9-4-607(a). All repayments of principal and interest to the state in connection with loans made under this section shall be deposited into the transportation enterprise account.
(c) The board may make grants or loans to public entities for the purpose of enhancing transportation in this state. Eligible uses of the monies in the fund shall include capital investments for public transportation and improvement and maintenance of airline service and facilities.
(d) In adopting rules and regulations under paragraph (a)(i) of this section, the board shall provide for the allocation of funds for capital investments for public transportation and for purposes eligible under subsection (c) of this section, with investment income received under W.S. 9-4-607(b) being allocated to purposes eligible under subsection (c) of this section.
(e) The state loan and investment board shall annually audit the transportation trust fund created under W.S. 9-4-607(a) to determine the effects of inflation on investment earnings.
Structure Wyoming Statutes
Title 11 - Agriculture, Livestock and Other Animals
Chapter 34 - State Loan and Investment Board
Section 11-34-101 - Definitions.
Section 11-34-104 - Seal; Design.
Section 11-34-105 - Chief Executive Officer; Powers and Duties.
Section 11-34-106 - Legal Advisor.
Section 11-34-107 - Quorum; Loan; Votes Required; Record.
Section 11-34-108 - Loans on Lands Subject to Preexisting Liens; Effect.
Section 11-34-109 - Purposes for Which Loans Authorized.
Section 11-34-110 - Limitations on Borrowers; Due on Sale Clause; Sale of Mortgaged Land.
Section 11-34-111 - Application for Loan; Form; Contents; Priority of Applications.
Section 11-34-113 - Terms and Conditions of Loans.
Section 11-34-114 - Limitation on Loans; Percentages of Appraised Value.
Section 11-34-115 - Minimum and Maximum Amount of Loans.
Section 11-34-117 - Rates of Interest; Length of Loan; Amount.
Section 11-34-118 - Refinancing Delinquent Loans; Payment of Costs; Additional Fee.
Section 11-34-119 - Ultra Vires Acts of Agent.
Section 11-34-120 - Mortgages Taken by Board; Control and Disposition of Property.
Section 11-34-122 - Release of Mortgage.
Section 11-34-123 - Foreclosure Proceedings; Duty of Attorney General; Deed in Lieu of Foreclosure.
Section 11-34-126 - Exemption of Property of Board From Taxation; Exceptions.
Section 11-34-127 - Surety Bonds; Generally.
Section 11-34-128 - Surety Bonds; Payment of Cost.
Section 11-34-129 - Investment of Permanent Funds.
Section 11-34-130 - Trespass Upon Lands Owned by Board Prohibited; Penalties.
Section 11-34-131 - Wyoming Transportation Enterprise Account; Use Thereof.