15-9-204. Organizational procedure.
(a) Upon petition of twenty-five percent (25%) of the persons owning nonresidential property within the proposed district and following a public hearing, if the governing body of a municipality determines it is necessary to establish a downtown development authority for the public health, safety, prosperity, security and welfare and to carry out the purposes of an authority as stated in W.S. 15-9-201, it may by ordinance establish a downtown development authority. In the ordinance, the governing body shall state the boundaries of the downtown development district, as set forth in the original petition requesting the establishment of a downtown development authority within which the authority shall exercise its powers. Upon request of the governing body, the petitioners may submit an amended petition which modifies the boundaries of the district. The boundaries of the downtown development authority shall be certified to the county assessor of the county in which the municipality is located within sixty (60) days after formation of the district.
(b) Any ordinance creating a downtown development authority shall provide that any ordinance or resolution by which bonds are issued pursuant to this article shall specify the maximum net effective interest rate of such bonds.
Structure Wyoming Statutes
Article 2 - Downtown Development Authority
Section 15-9-201 - Declarations.
Section 15-9-202 - Definitions.
Section 15-9-203 - Powers of Governing Body; Creation of Authority; Status Thereof.
Section 15-9-204 - Organizational Procedure.
Section 15-9-205 - Board; Appointment; Membership; Terms; Vacancies.
Section 15-9-209 - Additional Powers of Authority; Sale or Letting of Property at Fair Value.
Section 15-9-210 - Authorization of Bonds; Determination of Costs; Expenditure of Proceeds.
Section 15-9-212 - Refunding Bonds; Limited Obligations.
Section 15-9-213 - Revenue Bonds.
Section 15-9-214 - Tax Exemption; Exceptions.
Section 15-9-215 - Limitation of Actions.
Section 15-9-216 - Rights and Powers of Bondholders.
Section 15-9-217 - Officers and Other Personnel Employed by Board; Duties; Administrative Expenses.
Section 15-9-218 - Authority to Adopt Budget; Sources of Finance.
Section 15-9-219 - Assessments Against Funds of Authority.
Section 15-9-220 - Conflict of Interest.
Section 15-9-221 - Provisions to Be Construed Liberally.
Section 15-9-223 - Inclusion of Additional Property Into Development Area; Procedure.