Section 15-9-218 – Authority to Adopt Budget; Sources of Finance.
15-9-218. Authority to adopt budget; sources of finance. (a) The authority shall adopt a budget for each fiscal year, shall maintain accounts, and shall cause an annual audit, or other oversight in accordance with rules applicable to special districts under W.S. 9-1-507(a)(iii), to be made pertaining to the fiscal affairs of the authority. Administrative review […]
Section 15-9-219 – Assessments Against Funds of Authority.
15-9-219. Assessments against funds of authority. The governing body shall have the power to assess against the funds of the authority for the use and benefit of the general fund of the municipality a reasonable pro rata share of such funds for the cost of handling and auditing, which assessment when made shall be paid […]
Section 15-9-220 – Conflict of Interest.
15-9-220. Conflict of interest. No board member or employee of the board shall vote or otherwise participate in any matter in which he has a specific financial interest, defined as a matter in which the member or employee would receive a benefit or incur a cost substantially greater than other property owners within the district. […]
Section 15-9-210 – Authorization of Bonds; Determination of Costs; Expenditure of Proceeds.
15-9-210. Authorization of bonds; determination of costs; expenditure of proceeds. (a) By ordinance adopted by the governing body at a regular or special meeting, by a vote of a majority of the members of the governing body, the municipality may issue bonds, payable solely from taxes pledged pursuant to W.S. 15-9-207, to pay all or […]
Section 15-9-206 – Board; Qualifications; Oath of Office; Rules of Procedure; Meetings; Reimbursement; Removal.
15-9-206. Board; qualifications; oath of office; rules of procedure; meetings; reimbursement; removal. (a) A majority of the members of the board, except any member from the governing body, shall reside, be a lessee or own real property in the downtown development district within the municipality in which the authority is located. An officer or director […]
Section 15-9-207 – Board; Powers and Duties; Division of Property and Sales Tax; Special Fund; Adjustment Evaluations.
15-9-207. Board; powers and duties; division of property and sales tax; special fund; adjustment evaluations. (a) The board, subject to the provisions of this article and subject to other applicable provisions of law, shall have all powers customarily vested in the board of directors of a corporation. It shall exercise supervisory control over the activities […]
Section 15-9-208 – Plan of Development; Procedure for Approval; Public Hearings; Notice Thereof; Findings of Governing Body.
15-9-208. Plan of development; procedure for approval; public hearings; notice thereof; findings of governing body. (a) An authority shall not actually undertake a development project for a development area unless the governing body, by resolution, has first approved the plan of development which applies to the development project. (b) Prior to its approval of a […]
Section 15-9-209 – Additional Powers of Authority; Sale or Letting of Property at Fair Value.
15-9-209. Additional powers of authority; sale or letting of property at fair value. (a) In addition to the other powers granted by this article, the authority shall have all powers, except as limited in the ordinance or any amendments thereto establishing the authority, necessary to carry out and effectuate the purposes and provisions of this […]
Section 15-9-201 – Declarations.
15-9-201. Declarations. (a) The Wyoming legislature declares that the organization of downtown development authorities having the purposes and powers provided in this act will serve a public use; will promote the health, safety, prosperity, security and general welfare of the inhabitants thereof and of the people of this state, will halt or prevent deterioration of […]
Section 15-9-202 – Definitions.
15-9-202. Definitions. (a) As used in this article, unless the context otherwise requires: (i) “Authority” means a downtown development authority created pursuant to the provisions of this article in any municipality of this state and any successor to its functions, authority, rights and obligations; (ii) “Blighted area” means an area within the central business district […]