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Current as of December 01, 2021 | Updated by FindLaw Staff
The state auditor is authorized to borrow from the legislative stabilization reserve account an amount not to exceed two hundred million dollars ($200,000,000.00) at any one (1) time to meet the obligations of the department of transportation which come due prior to the receipt of revenues. The amounts borrowed under this section shall be repaid as soon as the anticipated revenue is received. Interest on the unpaid balance shall be equal to the rate of return earned on pooled fund investments in the previous fiscal year. These loans shall not be used to fund shortages caused by expenditures exceeding projected revenues but are to be used only to fund temporary shortages caused by meeting obligations which come due prior to receipt of revenues.
Cite this article: FindLaw.com - Wyoming Statutes Title 9. Administration of the Government § 9-1-418. Pooled fund investment loans; maximum amount; repayment; interest - last updated December 01, 2021 | https://codes.findlaw.com/wy/title-9-administration-of-the-government/wy-st-sect-9-1-418/
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