Statutes, codes, and regulations
Wyoming Administrative Code
Agency 060 - Lands and Investments, Office ofSubagency 0003 - Loan and Investment Board
Chapter 5 - SMALL WATER DEVELOPMENT PROJECT LOANS
Section 5-4 - Application Procedure

060-5 Wyo. Code R. § 5-4

Download
PDF
Current through April 27, 2019
Section 5-4 - Application Procedure

(a) Each prospective borrower shall submit a written loan application to the Office. The application shall include a proposed water development plan complete with design and cost estimates, the legal description of and evidence of water rights on the land to be developed, current financial statements including balance sheets, income and expense records and projections, and any other information the Board may require. A fee as established by the Board shall accompany all applications, and shall be returned if the application is withdrawn prior to a field appraisal being made.

(b) Timing. Loan applications must be received by the Director at least ninety (90) calendar days prior to any regularly scheduled meeting of the Board. Applicants must cure any defects in their application no later than forty-five (45) calendar days before any regularly scheduled meeting of the Board.

(c) The staff at the Office will review each application as to:

  • (i) The sufficiency of the water supply and the engineering and economic feasibility of the project. Advice from the Wyoming State Engineer, other State or Federal Agencies and/or individuals will be used as deemed appropriate;
  • (ii) All credit factors including, but not limited to, repayment ability, financial strength and stability, and adequacy of security offered. Credit standards shall be the same for small water project loans as for Farm Loans except for level of lending as specified under Section 5(a) of this Chapter.

(d) The Director will review each application and make a recommendation to the Board for consideration at a regularly scheduled meeting.

(e) Applications, financial statements, appraisals, and all other information pertaining to an application which has not been submitted to the Board shall be held as confidential information. Upon consideration by the Board, the application and all information with respect thereto in the Office's files are public records available for inspection and reproduction as provided by law.

060-5 Wyo. Code R. § 5-4

Amended, Eff. 9/8/2017.