Section 99-2-703 - Level III construction projects-new development(a) Except as otherwise specifically provided, each Level III new development construction project identified in this section shall be subject to the following general conditions:(i) Each sponsor shall offer security for the project loan as deemed adequate and acceptable to the attorney general;(ii) The commission shall establish repayment schedules for project loans in accordance with the conditions prescribed in this section;(iii) Each sponsor shall establish a sinking fund for repair and maintenance of the project as deemed appropriate by the commission;(iv) Each sponsor shall supervise design and construction of the project and submit all requests for payment to the commission for approval;(v) A sponsor shall not make construction funding commitments until after the commission has reviewed and approved construction budgets and construction plans;(vi) The commission shall make payments directly to the sponsor;(vii) The sponsor shall be responsible for operation and maintenance of the project;(viii) The sponsor is responsible for all project expenditures in excess of the total project appropriation;(ix) If the commission determines that any sponsor has, without good cause, abandoned completion of the project, that sponsor, in addition to being required to repay the loan, shall be obligated to immediately repay the full amount of all grant funds actually expended plus interest as established by the state auditor in an amount equal to the interest that would have accrued on the expended grant funds in the water development account from the date of expenditure;(x) Principal and interest payments made in repayment of loans shall be deposited in water development account I;(xi) There shall be no lease, sale, assignment or transfer of ownership of water from the project for purposes other than the designated project purpose without prior written approval of the commission and the state engineer or board of control. If such a transaction is approved, the revenues generated by the lease, sale, assignment or transfer of ownership of water from the project shall be utilized to retire principal on the project loan. After that loan is paid in full, the sponsor shall receive a proportionate share of the revenues generated by the lease, sale, assignment or transfer of ownership of water from the project equal to the percentage of the project loan and the state of Wyoming shall receive a proportionate share of the revenues generated by the lease, sale, assignment or transfer of ownership of water from the project equal to the percentage of the project grant;(xii) There shall be no lease, sale, assignment or transfer of ownership of any project until the project loan is paid in full, and until prior written approval is obtained from the commission. If these conditions are met, the sponsor shall receive a proportionate share of the revenues generated by the lease, sale, assignment or transfer of ownership of the project equal to the percentage of the project loan and the state of Wyoming shall receive a proportionate share of the revenues generated by the lease, sale, assignment or transfer of ownership of the project equal to the percentage of the project grant. Before the sponsor may lease, sell, assign or transfer ownership of the project, the state of Wyoming shall be given a one (1) year first right of refusal option to purchase the sponsor's interest in the project for an amount equal to the principal, interest, maintenance and replacement costs incurred by the sponsor at the date the option is exercised;(xiii) After the project loan is paid in full, the sponsor may purchase the position of the state of Wyoming, as described in paragraphs (xi) and (xii) of this subsection, for the amount of the project grant plus the interest that would have accrued on the grant amount in the water development account from the date the project was substantially completed as defined by the commission. The interest that would have accrued on the grant amount shall be established by the state auditor;(xiv) Any revenues generated by the state from the lease, sale, assignment or transfer of ownership of any project or project water shall be deposited in water development account I. Source notes for subsection (a): (Laws 1997, ch. 45, § 3a.)
(b) Project - American Road Water Supply Project:(i) Project sponsor: American Road Water and Sewer District;(ii) Project purpose: Municipal and domestic water supply;(iii) Project description: A Fort Union production well, pipelines and appurtenances necessary to make the project function in the manner intended;(iv) Total project budget: Two hundred fifty thousand dollars ($250,000.00);(v) Project loan: The state of Wyoming shall loan to the sponsor from water development account I through the commission for the design, permit procurement, project land procurement, construction engineering and construction of the project an amount not to exceed one hundred thousand dollars ($100,000.00) or forty percent (40%) of the actual development costs, whichever is less, for a term of thirty (30) years from the date the commission determines project benefits accrue to the sponsor, at an annual rate of seven and one-quarter percent (7.25%);(vi) Project grant: The state of Wyoming shall grant to the sponsor from water development account I through the commission for the design, permit procurement, project land procurement, construction engineering and construction of the project an amount not to exceed one hundred fifty thousand dollars ($150,000.00) or sixty percent (60%) of the actual development costs, whichever is less;(vii) Appropriation: There is appropriated from water development account I to the commission two hundred fifty thousand dollars ($250,000.00) 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, 2000. Source notes for subsection (b): (Laws 1997, ch. 45, § 3b.)
(c) Project - Burlington Water Supply Project:(i) Project sponsor: Town of Burlington;(ii) Project purpose: Municipal and domestic water supply;(iii) Project description: Well head protection program, pump installation for existing wells, pipelines, valves and appurtenances necessary to make the project function in the manner intended;(iv) Total project budget: Six Hundred thousand dollars ($600,000.00);(v) Project grant: The state of Wyoming shall grant to the sponsor from water development account I through the commission for the design, permit procurement, project land procurement, construction engineering and construction of the project an amount not to exceed three hundred sixty thousand dollars ($360,000.00) or sixty percent (60%) of the actual development costs, whichever is less;(vi) Appropriation: There is appropriated from water development account I to the commission three hundred sixty thousand dollars ($360,000.00) 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, 2000;(vii) Special condition: The sponsor is responsible for acquiring forty percent (40%) of the total project budget from other sources. Source notes for subsection (c): (Laws 1997, ch. 45, § 3c.)
(d) Project - Carpenter Water Supply Project:(i) Project sponsor: Carpenter Water and Sewer District;(ii) Project purpose: Municipal and domestic water supply;(iii) Project description: Wells, transmission pipelines and appurtenances necessary to make the project function in the manner intended;(iv) Total project budget: Eight hundred sixty thousand dollars ($860,000.00), of which, five hundred thirty eight thousand dollars ($538,000.00) is for expenses associated with eligible commission components;(v) Project grant: The state of Wyoming shall grant to the sponsor from water development account I through the commission for the design, permit procurement, project land procurement, construction engineering and construction of the project an amount not to exceed three hundred sixty thousand ($360,000.00) or sixty-seven percent (67%) of the actual development costs for commission eligible components, whichever is less;(vi) Appropriation: There is appropriated from water development account I to the commission three hundred sixty thousand dollars ($360,000.00) 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, 2000;(vii) Special condition: The sponsor is responsible for acquiring fifty-eight percent (58%) of the total project budget from other sources. Source notes for subsection (d): (Laws 1997, ch. 45, § 3d.)
(e) Project - Osage Water Supply Project:(i) Project sponsor: Osage Water District;(ii) Project purpose: Municipal and domestic water supply;(iii) Project description: Valves, transmission pipelines and appurtenances necessary to make the project function in the manner intended;(iv) Total project budget: One million nine hundred seventy-two thousand dollars ($1,972,000.00), of which one million five hundred thousand dollars ($1,500,000.00) is for expenses associated with eligible commission components;(v) Project loan: The state of Wyoming shall loan to the sponsor from water development account I through the commission for the design, permit procurement, project land procurement, construction engineering and construction of the project an amount not to exceed two hundred ($200,000.00) or ten percent (10%) of the actual total project development costs, whichever is less, for a term of twenty (20) years from the date the commission determines project benefits accrue to the sponsor, at an annual rate of four percent (4%);(vi) Project grant: The state of Wyoming shall grant to the sponsor from water development account I through the commission for the design, permit procurement, project land procurement, construction engineering and construction of the project an amount not to exceed one million five thousand dollars ($1,005,000.00) or fifty-one percent (51%) of the actual total project development costs, whichever is less;(vii) Appropriation: There is appropriated from water development account I to the commission one million two hundred five thousand dollars ($1,205,000.00) 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, 2000;(viii) Special conditions: (A) The sponsor shall purchase the well completed during the Level II study for a price of eighteen thousand eight hundred one dollars and forty-six cents ($18,801.46). The sponsor may purchase the well with a lump sum payment or with amortized payments based on the actual construction costs for a term of twenty (20) years from the date the commission determines project benefits accrue to the sponsor, at an annual interest rate of four percent (4%). In either event, a Level II well purchase agreement must be completed prior to commencement of the project;(B) The sponsor is responsible for acquiring thirty-nine percent (39%) of the total project budget from other sources.