Statutes, codes, and regulations
Wyoming Administrative Code
Agency 085 - Business CouncilCommunity Facilities Grant and Loan Program
Chapter 3 - COMMUNITY FACILITIES LOANS
Section 3-5 - Security Interest

085-3 Wyo. Code R. § 3-5

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Current through April 27, 2019
Section 3-5 - Security Interest

(a) A loan shall be adequately collateralized as recommended by the Council and determined by the Board. The Council may recommend and the Board may require a first position security interest in the revenue generating facility and the related user fees or assessments. Other security may be required as determined by the Council and approved by the Board.

(b) If a lien is required on the facilities, the applicant shall:

  • (i) Maintain adequate insurance on the facility;
  • (ii) Pay all applicable taxes and assessments when due;
  • (iii) Maintain the facility in good condition.

085-3 Wyo. Code R. § 3-5