Section 99-2-603 - Level III construction projects-new development(a) Except as otherwise specifically provided, each Level III new development construction project identified in this section shall be subject to the following general conditions:(i) Each sponsor shall offer security for the project loan as deemed adequate and acceptable to the attorney general;(ii) The commission shall establish repayment schedules for project loans in accordance with the conditions prescribed in this section;(iii) Each sponsor shall establish a sinking fund for repair and maintenance of the project as deemed appropriate by the commission;(iv) Each sponsor shall supervise design and construction of the project and submit all requests for payment to the commission for approval;(v) Sponsors shall not make construction funding commitments until after the commission has reviewed and approved construction budgets and construction plans;(vi) The commission shall make payments directly to the sponsors;(vii) The sponsor shall be responsible for operation and maintenance of the project;(viii) The sponsor is responsible for all project expenditures in excess of the total project appropriation;(ix) If the commission determines that any sponsor has, without good cause, abandoned completion of the project, that sponsor, in addition to being required to repay the loan, shall be obligated to immediately repay the full amount of all grant funds actually expended plus interest as established by the state auditor in an amount equal to the interest that would have accrued on the expended grant funds in the water development account from the date of expenditure;(x) Principal and interest payments made in repayment of loans shall be deposited in water development account I;(xi) There shall be no lease, sale, assignment or transfer of ownership of water from the project for purposes other than the designated project purpose without prior written approval of the commission and the state engineer or board of control. If such a transaction is approved, the revenues generated by the lease, sale, assignment or transfer of ownership of water from the project shall be utilized to retire principal on the project loan. After that loan is paid in full, the sponsor shall receive a proportionate share of the revenues generated by the lease, sale, assignment or transfer of ownership of water from the project equal to the percentage of the project loan and the state of Wyoming shall receive a proportionate share of the revenues generated by the lease, sale, assignment or transfer of ownership of water from the project equal to the percentage of the project grant;(xii) There shall be no lease, sale, assignment or transfer of ownership of any project until the project loan is paid in full, and until prior written approval is obtained from the commission. If these conditions are met, the sponsor shall receive a proportionate share of the revenues generated by the lease, sale, assignment or transfer of ownership of the project equal to the percentage of the project loan and the state of Wyoming shall receive a proportionate share of the revenues generated by the lease, sale, assignment or transfer of ownership of the project equal to the percentage of the project grant. Before the sponsor may lease, sell, assign or transfer ownership of the project, the state of Wyoming shall be given a one (1) year first right of refusal option to purchase the sponsor's interest in the project for an amount equal to the principal, interest, maintenance and replacement costs incurred by the sponsor at the date the option is exercised;(xiii) After the project loan is paid in full, the sponsor may purchase the position of the state of Wyoming, as described in paragraphs (xi) and (xii) of this subsection, for the amount of the project grant plus the interest that would have accrued on the grant amount in the water development account from the date the project was substantially completed as defined by the commission. The interest that would have accrued on the grant amount shall be established by the state auditor;(xiv) Any revenues generated by the state from the lease, sale, assignment or transfer of ownership of any project or project water shall be deposited in water development account I. Source notes for subsection (a): (Laws 1996, ch. 59, § 3a.)
(b) Project - Cody Area Water Supply Project:(i) Project sponsor: City of Cody;(ii) Project purpose: Municipal and domestic water supply;(iii) Project description: Pipelines and appurtenances necessary to make the project function in the manner intended;(iv) Total project budget: Seven hundred eighty-five thousand dollars ($785,000.00);(v) Project loan: The state of Wyoming shall loan to the sponsor from water development account I through the commission for the design, permit procurement, project land procurement, construction engineering and construction of the project an amount not to exceed two hundred fifty-nine thousand fifty dollars ($259,050.00) or thirty-three percent (33%) of the actual development costs, whichever is less, for a term of twenty (20) years from the date the commission determines project benefits accrue to the sponsor, at an annual rate of four percent (4%);(vi) Project grant: The state of Wyoming shall grant to the sponsor from water development account I through the commission for the design, permit procurement, project land procurement, construction engineering and construction of the project an amount not to exceed five hundred twenty-five thousand nine hundred fifty dollars ($525,950.00) or sixty-seven percent (67%) of the actual development costs, whichever is less;(vii) Appropriation: There is appropriated from water development account I to the commission seven hundred eighty-five thousand dollars ($785,000.00) or as much thereof as is necessary to carry out the purpose of this subsection. Unexpended funds appropriated under this subsection shall revert to water development account I on July 1, 1999. Source notes for subsection (b): (Laws 1996, ch. 59, § 3b.)
(c) Project - Elk Mountain Water Supply Project:(i) Project sponsor: Town of Elk Mountain;(ii) Project purpose: Municipal and domestic water supply;(iii) Project description: Well, pipelines, valves and appurtenances necessary to make the project function in the manner intended;(iv) Total project budget: Three hundred thirty-five thousand dollars ($335,000);(v) Project loan: The state of Wyoming shall loan to the sponsor from water development account I through the commission for the design, permit procurement, project land procurement, construction engineering and construction of the project an amount not to exceed one hundred ten thousand five hundred fifty dollars ($110,550.00) or thirty-three percent (33%) of the actual development costs, whichever is less, for a term of twenty (20) years from the date the commission determines project benefits accrue to the sponsor, at an annual rate of four percent (4%);(vi) Project grant: The state of Wyoming shall grant to the sponsor from water development account I through the commission for the design, permit procurement, project land procurement, construction engineering and construction of the project an amount not to exceed two hundred twenty-four thousand four hundred fifty dollars ($224,450.00) or sixty-seven percent (67%) of the actual development costs, whichever is less;(vii) Appropriation: There is appropriated from water development account I to the commission three hundred thirty-five thousand dollars ($335,000.00) or as much thereof as is necessary to carry out the purpose of this subsection. Unexpended funds appropriated under this subsection shall revert to water development account I on July 1, 1999;(viii) Special condition: The sponsor shall purchase the well completed during the Level II study for a price of sixty-six thousand dollars ($66,000.00) or thirty-three percent (33%) of the actual construction costs, whichever is less. The sponsor may purchase the well with a lump sum payment or with amortized payments based on the actual construction costs for a term of twenty (20) years from the date the commission determines project benefits accrue to the sponsor, at an annual interest rate of four percent (4%). In either event, the purchase agreement must be completed prior to commencement of the project. Source notes for subsection (c): (Laws 1996, ch. 59, § 3c.)
(d) Project - Guernsey Water Supply Project:(i) Project sponsor: Town of Guernsey;(ii) Project purpose: Municipal and domestic water supply;(iii) Project description: Well, transmission pipelines and appurtenances necessary to make the project function in the manner intended;(iv) Total project budget: Five hundred fifty thousand dollars ($550,000.00);(v) Project loan: The state of Wyoming shall loan to the sponsor from water development account I through the commission for the design, permit procurement, project land procurement, construction engineering and construction of the project an amount not to exceed one hundred eighty-one thousand five hundred dollars ($181,500.00) or thirty-three percent (33%) of the actual development costs, whichever is less, for a term of twenty (20) years from the date the commission determines project benefits accrue to the sponsor, at an annual rate of four percent (4%);(vi) Project grant: The state of Wyoming shall grant to the sponsor from water development account I through the commission for the design, permit procurement, project land procurement, construction engineering and construction of the project an amount not to exceed three hundred sixty-eight thousand five hundred dollars ($368,500.00) or sixty-seven percent (67%) of the actual development costs, whichever is less;(vii) Appropriation: There is appropriated from water development account I to the commission five hundred fifty thousand dollars ($550,000.00) or as much thereof as is necessary to carry out the purpose of this subsection. Unexpended funds appropriated under this subsection shall revert to water development account I on July 1, 1999. Source notes for subsection (d): (Laws 1996, ch. 59, § 3d.)
(e) Project - Lusk Water Supply Project:(i) Project sponsor: Town of Lusk;(ii) Project purpose: Municipal and domestic water supply;(iii) Project description: Pumps, valves, transmission pipelines, storage facilities and appurtenances necessary to make the project function in the manner intended;(iv) Total project budget: Two million one hundred thousand dollars ($2,100,000.00);(v) Project loan: The state of Wyoming shall loan to the sponsor from water development account I through the commission for the design, permit procurement, project land procurement, construction engineering and construction of the project an amount not to exceed one hundred sixty eight thousand nine hundred eighty dollars ($168,980.00) or thirty-three percent (33%) of the actual development costs of components eligible for commission funding, whichever is less, for a term of twenty (20) years from the date the commission determines project benefits accrue to the sponsor, at an annual rate of four percent (4%);(vi) Project grant: The state of Wyoming shall grant to the sponsor from water development account I through the commission for the design, permit procurement, project land procurement, construction engineering and construction of the project an amount not to exceed five hundred forty thousand twenty dollars ($540,020.00) or sixty-seven percent (67%) of the actual development costs of components eligible for commission funding, whichever is less;(vii) Appropriation: There is appropriated from water development account I to the commission seven hundred nine thousand dollars ($709,000.00) or as much thereof as is necessary to carry out the purpose of this subsection. Unexpended funds appropriated under this subsection shall revert to water development account I on July 1, 1999;(viii) Special conditions: (A) The sponsor shall purchase the well completed during the Level II study for a price of thirty thousand dollars ($30,000.00) or thirty-three percent (33%) of the actual construction costs, whichever is less. The sponsor may purchase the well with a lump sum payment or with amortized payments based on the actual construction costs for a term of twenty (20) years from the date the commission determines project benefits accrue to the sponsor, at an annual interest rate of four percent (4%). In either event, the purchase agreement must be completed prior to commencement of the project;(B) The sponsor is responsible for acquiring the additional funds from other sources. Source notes for subsection (e): (Laws 1996, ch. 59, § 3e; 1997, ch. 45, § 11.)
(f) Project - Pinedale Water Supply Project: (i) Project sponsor: Town of Pinedale;(ii) Project purpose: Municipal and domestic water supply;(iii) Project description: Transmission pipelines and appurtenances necessary to make the project function in the manner intended;(iv) Total project budget: Three million five hundred fifty thousand dollars ($3,550,000.00);(v) Project loan: The state of Wyoming shall loan to the sponsor from water development account I through the commission for the design, permit procurement, project land procurement, construction engineering and construction of the project an amount not to exceed one million one hundred seventy-one thousand five hundred dollars ($1,171,500.00) or thirty-three percent (33%) of the actual development costs, whichever is less, for a term of twenty (20) years from the date the commission determines project benefits accrue to the sponsor, unless the sponsor commits to install water meters in which case the term of the loan shall be thirty (30) years, at an annual rate of four percent (4%);(vi) Project grant: The state of Wyoming shall grant to the sponsor from water development account I through the commission for the design, permit procurement, project land procurement, construction engineering and construction of the project an amount not to exceed two million three hundred seventy-eight thousand five hundred dollars ($2,378,500.00) or sixty-seven percent (67%) of the actual development costs, whichever is less;(vii) Appropriation: There is appropriated from water development account I to the commission three million five hundred fifty thousand dollars ($3,550,000.00) or as much thereof as is necessary to carry out the purpose of this subsection. Unexpended funds appropriated under this subsection shall revert to water development account I on July 1, 1999. Source notes for subsection (f): (Laws 1996, ch. 59, § 3f.)
(g) Project - Riverton Water Supply Project:(i) Project sponsor: City of Riverton;(ii) Project purpose: Municipal and domestic water supply;(iii) Project description: Well, transmission pipelines and appurtenances necessary to make the project function in the manner intended;(iv) Total project budget: Four hundred sixty-six thousand dollars ($466,000.00);(v) Project grant: The state of Wyoming shall grant to the sponsor from water development account I through the commission for the design, permit procurement, project land procurement, construction engineering and construction of the project an amount not to exceed three hundred twelve thousand dollars ($312,000.00) or sixty-seven percent (67%) of the actual development costs, whichever is less;(vi) Appropriation: There is appropriated from water development account I to the commission three hundred twelve thousand dollars ($312,000.00) or as much thereof as is necessary to carry out the purpose of this subsection. Unexpended funds appropriated under this subsection shall revert to water development account I on July 1, 2001; (vii) Special condition: The sponsor is responsible for acquiring thirty-three percent (33%) of the total project budget from other sources. Source notes for subsection (g): (Laws 1996, ch. 59, § 3g; 1999, ch. 16, § 3.)
(h) Project - Rolling Hills Water Supply Project:(i) Project sponsor: Town of Rolling Hills;(ii) Project purpose: Municipal and domestic water supply;(iii) Project description: Pump, transmission pipelines, gas strippers and appurtenances necessary to make the project function in the manner intended;(iv) Total project budget: Two hundred eighty-two thousand dollars ($282,000.00);(v) Project loan: The state of Wyoming shall loan to the sponsor from water development account I through the commission for the design, permit procurement, project land procurement, construction engineering and construction of the project an amount not to exceed ninety-three thousand sixty dollars ($93,060.00) or thirty-three percent (33%) of the actual development costs, whichever is less, for a term of twenty (20) years from the date the commission determines project benefits accrue to the sponsor, at an annual rate of four percent (4%);(vi) Project grant: The state of Wyoming shall grant to the sponsor from water development account I through the commission for the design, permit procurement, project land procurement, construction engineering and construction of the project an amount not to exceed one hundred eighty-eight thousand nine hundred forty dollars ($188,940.00) or sixty-seven percent (67%) of the actual development costs, whichever is less;(vii) Appropriation: There is appropriated from water development account I to the commission two hundred eighty-two thousand dollars ($282,000.00) or as much thereof as is necessary to carry out the purpose of this subsection. Unexpended funds appropriated under this subsection shall revert to water development account I on July 1, 1999;(viii) Special condition: The sponsor shall purchase the well completed during the Level II study for a price of twenty-six thousand four hundred dollars ($26,400.00) or thirty-three percent (33%) of the actual construction costs, whichever is less. The sponsor may purchase the well with a lump sum payment or with amortized payments based on the actual construction costs for a term of twenty (20) years from the date the commission determines project benefits accrue to the sponsor, at an annual interest rate of four percent (4%). In either event, the purchase agreement must be completed prior to commencement of the project. Source notes for subsection (h): (Laws 1996, ch. 59, § 3h; 1997, ch. 45, § 12.)
(j) Project - Upper Little Warm Springs Water Supply Project:(i) Project sponsor: Little Warm Springs Water District;(ii) Project purpose: Domestic water supply within the district boundaries;(iii) Project description: Wells, storage facilities, pipelines and appurtenances necessary to make the project function in the manner intended;(iv) Total project budget: One million six hundred thousand dollars ($1,600,000.00);(v) Project loan: The state of Wyoming shall loan to the sponsor from water development account I through the commission for the design, permit procurement, project land procurement, construction engineering and construction of the project an amount not to exceed five hundred twenty-eight thousand dollars ($528,000.00) or thirty-three percent (33%) of the actual development costs, whichever is less, for a term of thirty (30) years from the date the commission determines project benefits accrue to the sponsor, at an annual rate of four percent (4%);(vi) Project grant: The state of Wyoming shall grant to the sponsor from water development account I through the commission for the design, permit procurement, project land procurement, construction engineering and construction of the project an amount not to exceed one million seventy-two thousand dollars ($1,072,000.00) or sixty-seven percent (67%) of the actual development costs, whichever is less;(vii) Appropriation: There is appropriated from water development account I to the commission one million six hundred thousand dollars ($1,600,000.00) or as much thereof as is necessary to carry out the purpose of this subsection. Unexpended funds appropriated under this subsection shall revert to water development account I on July 1, 1999; (viii) Special conditions: (A) The sponsor shall purchase the well completed during the Level II study for a price of fifty-five thousand dollars ($55,000.00) or thirty-three percent (33%) of the actual construction costs, whichever is less. The sponsor may purchase the well with a lump sum payment or with amortized payments based on the actual construction costs for a term of thirty (30) years from the date the commission determines project benefits accrue to the sponsor, at an annual interest rate of four percent (4%). In either event, the purchase agreement must be completed prior to commencement of the project;(B) Payment of interest and principal and accrual of interest on the loan shall be deferred until two (2) years after the term of the loan commences as determined by the commission. The loan shall be amortized over the remaining twenty-eight (28) years of the term.