Wyoming Administrative Code
Agency 085 - Business Council
Sub-Agency 0019 - Agricultural Processing Revenue Bond Program
Chapter 1 - AGRICULTURAL PROCESSING REVENUE BOND
Section 1-7 - Default Approval Process and Approval
Universal Citation: WY Code of Rules 1-7
Current through September 21, 2024
(a) Steps of process. The steps necessary to obtain approval of a bond allocation under the agricultural processing revenue bond program are as follows:
(i) The applicant shall first submit a
completed application as referenced in Section
5(c) of this Chapter to
Council staff for review.
(ii)
After receiving a complete application, the council staff shall review the
application for completeness. Once Council staff ascertain that the application
is complete, council staff shall notify members of the State Loan and
Investment Board immediately and provide one (1) copy of the completed
application to each member of the State Loan and Investment Board.
(iii) Council staff shall structure the bond
with initial pricing guidance. This practice will determine breakeven points in
the proposed project, including, but not limited to, the bond term, yield rate,
and collateral value. The initial pricing guidance does not indicate the final
pricing structure and grading of the bond upon issuance in the secondary
market.
(iv) Council staff shall
present the proposed project to the Board of Directors at its next scheduled
meeting. A special meeting of the Board of Directors may be called if
necessary. The Board of Directors shall forward its recommendation to the State
Loan and Investment Board at the next available meeting for its final approval,
or rejection, of the bond allocation request.
(v) If the State Loan and Investment Board
grants final approval of the allocation request, the project shall return to
the Council to work with bond-rating agencies, investment banks, and other
necessary parties to issue the bonds on the public market for
investment.
Disclaimer: These regulations may not be the most recent version. Wyoming may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.