Chapter 11 - Loans To Transportation Commission
CHAPTER 11 - LOANS TO TRANSPORTATION COMMISSION
24-11-101. Special obligation loans.
TheWyoming transportation commission, a public instrumentality of the state ofWyoming, may borrow money from the Wyoming community development authority.Borrowing shall be evidenced by a special obligation loan or loans bearinginterest at a rate or rates not exceeding ten percent (10%) per annum. Any suchspecial obligation loan shall not constitute a debt nor an indebtedness withinthe meaning of any constitutional or statutory debt limitations. The proceedsof each special obligation loan shall be used for the purpose of constructingor otherwise acquiring highway facilities which become necessary by reason ofthe location and expansion of mineral extractive industries and otherindustrial developments in the state.