Investment of state funds-2.

WORKING DRAFT
2006
STATE OF
WYOMING
06LSO-0135

HOUSE JOINT RESOLUTION
NO.
HJ0003

Investment of state funds-2.

Sponsored by:
Select Committee on Capital Financing and Investments

A BILL

for

A JOINT RESOLUTION proposing to amend the Wyoming Constitution; authorizing investment of any state funds in stock under conditions prescribed by the legislature.

BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF
WYOMING
,
two-thirds of all the members of the two houses, voting separately, concurring therein:

Section 1.

The following proposal to amend Wyoming Constitution, Article 16, Section 6 is proposed for submission to the electors of the State of
Wyoming
at the next general election for approval or rejection to become valid as a part of the Constitution if ratified by a majority of the electors at the election:

Article 16, Section 6.

Loan of credit; donations prohibited; works of internal improvement.

Neither the state nor any county, city, township, town, school district, or any other political subdivision, shall loan or give its credit or make donations to or in aid of any individual, association or corporation, except for necessary support of the poor, nor subscribe to or become the owner of the capital stock of any association or corporation, except that funds of public employee retirement systems and
the permanent
funds of the state of Wyoming may be invested in such stock under conditions the legislature prescribes. The state shall not engage in any work of internal improvement unless authorized by a two-thirds (2/3) vote of the people.

Section 2.
That the Secretary of State shall endorse the following statement on the proposed amendment:

The adoption of this amendment would allow the investment of any state funds in stock under conditions the legislature prescribes.

(END)

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HJ0003