060-13 Wyo. Code R. § 13-4
(a) Applicants. School districts that have met the accreditation standards of the Wyoming Department of Education and are at or below the constitutional debt limit shall be eligible to apply for bond guarantees under this chapter.
(b) Purposes. The Board shall only guarantee bonds issued by eligible applicants to acquire or improve land; to acquire or erect buildings; to enlarge, improve, remodel, repair, or add to buildings; or to equip and furnish buildings.
(c) Bond Types and Ratings. The Board shall only guarantee bonded debt in the form of general obligation bonds that have been considered and confirmed to be investment grade or better by one or more nationally recognized bond rating agencies as designated by the Board.
060-13 Wyo. Code R. § 13-4