Section 99-3-2505 - Sponsor's Contingency Funds(a) Project - Sponsor's Contingency Funds - Account III:(i) Project sponsor: Any eligible sponsor;(ii) Project purpose: Variable purpose water storage projects;(iii) Project description: The establishment of a fund to provide supplemental funding for sponsors' existing Level III, dam and reservoir construction projects where construction budgets have been rendered insufficient due to change in conditions, inflation, or an unexpected increase in material cost, change in materials or increase in the quantities of materials necessary to complete the project;(iv) Total project budget: Fifty-five million dollars ($55,000,000.00);(v) Project grant: The state of Wyoming shall grant to the sponsor from water development account III through the commission sufficient supplemental funds which may be used to complete the projects up to an amount not to exceed the public benefits as computed by the commission;(vi) Project loan: The state of Wyoming shall loan to the sponsor from water development account III through the commission sufficient supplemental funds which may be used to complete the project up to an amount not to exceed an amount equal to the difference of the total project cost and the grant, at an annual rate of four percent (4%);(vii) Appropriation: There is appropriated from water development account III to the commission fifty-five million dollars ($55,000,000.00) 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 III on July 1, 2030;(viii) Special conditions: The commission is authorized to consider and approve supplemental funding to complete existing water development program Level III construction projects anytime during the calendar year.Amended by Laws 2024, ch. 99,§ 2, eff. 3/20/2024.Amended by Laws 2022 , ch. 93, § 2, eff. 3/16/2022.Added by Laws 2020 , ch. 113, § 1, eff. 3/17/2020.