Section 99-3-1106 - Sponsor's Contingency Funds(a) Project - Sponsor's Contingency Fund - New Development: (i) Project sponsor: Any eligible sponsor;(ii) Project purpose: Multiple purpose water use;(iii) Project description: The establishment of a fund to provide supplemental funding for sponsors' existing Level III new development construction projects where construction budgets have been rendered insufficient due to inflation, or an unexpected increase in material cost, change in materials or increase in the quantities of materials necessary to complete the final project design;(iv) Total project budget: Seven million dollars ($7,000,000.00);(v) Project grant: The state of Wyoming shall grant to sponsors from water development account I through the commission sufficient supplemental funds which may be used to complete construction of projects up to an amount not to exceed sixty-seven percent (67%) of the difference between the original project budget and the actual cost of construction;(vi) Project loan: The state of Wyoming shall loan to sponsors from water development account I through the commission sufficient supplemental funds which may be used to complete construction of projects up to an amount not to exceed thirty-three percent (33%) of the difference between the original project budget and the actual cost of construction, at an annual rate of four percent (4%);(vii) Appropriation: There is appropriated from water development account I to the commission seven million dollars ($7,000,000.00) 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, 2027; and(viii) Special condition: The commission is authorized to consider and approve supplemental funding to complete existing water development program Level III construction projects any time during the calendar year. Source notes for subsection (a): (Laws 2006, Ch. 105, § 20; 2010, ch. 68, § 2; 2012, Ch. 14, § 2; 2015, Ch. 167, § 1; 2017, Ch. 75, § 2; 2019, Ch. 55, § 2; 2023, Ch.180, § 2.)
(b) Project - Sponsor's Contingency Fund-Rehabilitation: (i) Project sponsor: Any eligible sponsor;(ii) Project purpose: Variable purpose water supplies;(iii) Project description: The establishment of a fund to provide supplemental funding for sponsors' existing Level III rehabilitation construction projects where construction budgets have been rendered insufficient due to inflation, or an unexpected increase in material cost, change in materials or increase in the quantities of materials necessary to complete the final project design;(iv) Total project budget: Five million seven hundred thousand dollars ($5,700,000.00);(v) Project grant: The state of Wyoming shall grant to sponsors from water development account II through the commission sufficient supplemental funds which may be used to complete construction of projects up to an amount not to exceed sixty-seven percent (67%) of the difference between the original project budget and the actual cost of construction;(vi) Project loan: The state of Wyoming shall loan to sponsors from water development account II through the commission sufficient supplemental funds which may be used to complete construction of projects up to an amount not to exceed thirty-three percent (33%) of the difference between the original project budget and the actual cost of construction, at an annual rate of four percent (4%);(vii) Appropriation: There is appropriated from water development account II to the commission five million seven hundred thousand dollars ($5,700,000.00) 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 II on July 1, 2027; and (viii) Special condition: (A) The commission is authorized to consider and approve supplemental funding to complete existing water development program Level III construction projects any time during the calendar year;(B) The appropriation of additional funds for this project in the amount of one million two hundred thousand dollars ($1,200,000.00) is contingent upon the transfer of funds to water development account II as described in section 3 of this act or the transfer of funds from another funding source.Amended by Laws 2023, ch. 180,§ 2, eff. 3/10/2023.Amended by Laws 2021 , ch. 12, § 2, eff. 2/8/2021.Amended by Laws 2020 , ch. 113, § 2, eff. 3/17/2020.Amended by Laws 2019 , ch. 55, § 2, eff. 2/18/2019.Amended by Laws 2017 , ch. 75, § 2, eff. 7/1/2017.Amended by Laws 2015 , ch. 167, § 1, eff. 3/9/2015.Amended by Laws 2012 , ch. 14, § 2, eff. 3/6/2012.