060-13 Wyo. Code R. § 13-9
(a) A district shall notify the State Treasurer not less than fifteen (15) days before payment is due if the district believes it may be unable to make a payment of principal or interest on any debt obligation guaranteed by the Board, using the Notification of Potential Default form provided by the Office.
(b) A district shall include a provision in its agreement with its independent paying agent that requires the paying agent to notify the State Treasurer not less than five (5) days prior to the date a payment is due if it becomes aware of a potential default on any debt obligation guaranteed by the Board. The State Treasurer shall pay the paying agent, from immediately available funds, a sufficient amount to cover the bond service payment at least one (1) day prior to the bond service due date.
(c) If the district defaults in the payment and the State Treasurer pays the paying agent as provided in subsection (b) of this section, the payments intercepted by the Board pursuant to W.S. 9-4-1001(d) (iii) shall be restored to the Common School Account in the Permanent Land Fund and the $100 million pledged pursuant to W.S. W.S. W.S. 9-4-701(j) restored. In no event shall the State Treasurer make any payment of amounts on deposit in, or derived from, the Common School Income Account for the purpose of paying any defaulted principal or interest payment in respect to the guaranteed school bond.
(d) If the state makes payment on behalf of a district or if the district defaults in the payment, it shall submit a plan to the Board for approval specifying the modifications in its fiscal practices and general operations that the district intends to implement to resolve the problems which led to its inability to make the payment and to prevent further defaults. The district shall submit its plan within 45 days of the date of the default. The district shall implement all measures as approved and required by the Board pursuant to W.S. W.S. W.S. 9-4-1001(d) (iii) (C).
060-13 Wyo. Code R. § 13-9