15-7-408. Use of surplus water or sewage funds.
The board of public utilities shall use any surplus funds arising from the sale of water or sewage services for the purchase and cancellation of any bonds issued to pay the purchase price of the water or sewer plants or the cost of their construction, extension and enlargement. The board shall not pay for any bonds any sum greater than par, plus a premium of not to exceed fifty percent (50%) of the face value on all unearned interest coupons attached to any bond purchased, or pay more than the actual market price of the bonds at the time of purchasing them. Any surplus after the purchase of bonds shall be paid into the general fund of the city or town.
Structure Wyoming Statutes
Chapter 7 - Public Improvements
Article 4 - Board of Public Utilities
Section 15-7-401 - Establishment; Powers and Duties Generally.
Section 15-7-402 - Appointment, Qualifications, Terms and Removal of Members; Vacancies.
Section 15-7-403 - Officers; Meetings; Records; Salaries.
Section 15-7-404 - Specific Powers and Duties; Vouchers; Civil Service or Pension System.
Section 15-7-405 - Director of Utilities; Superintendent; Office Manager; Utility Attorney.
Section 15-7-406 - Agents, Servants and Employees.
Section 15-7-407 - Consumer Rates; Depreciation.
Section 15-7-408 - Use of Surplus Water or Sewage Funds.
Section 15-7-409 - Meter Deposit Fund; Investment; Interest; Repayment.
Section 15-7-410 - Treasurer; Duties; Bond.