Wyoming military department-real property lease.

WORKING DRAFT
2007
STATE OF
WYOMING
07LSO-0474

HOUSE BILL
NO.
HB0111

Wyoming
military department-real property lease.

Sponsored by:
Representative(s) Illoway and Walsh and Senator(s) Johnson and Sessions

A BILL

for

AN ACT relating to the Wyoming military department; providing for the procurement of a long term real property lease for properties located at the Cheyenne airport; providing an appropriation; providing for the investment and use of funds; and providing for an effective date.

Be It Enacted by the Legislature of the State of
Wyoming
:

Section 1.

Beginning with the effective date of this act t
here is appropriated five million four hundred twenty-eight thousand dollars ($5,428,000.00) from the general fund to the military department to be expended for the procurement of a lease not to exceed ninety-nine (99) years for certain properties located at the
Cheyenne
,
Wyoming
airport. This appropriation shall be transmitted to the state treasurer and shall be invested by the state treasurer as authorized under W.S. 9
‑
4
‑
711, in a manner which results in the highest return on investment possible. The appropriation and earnings shall be maintained by the state treasurer in a separate account and shall be used to make scheduled payments for the term of the lease. Notwithstanding W.S. 9
‑
2
‑
1008, 9
‑
2
‑
1012(e) and 9
‑
4
‑
207(a) funds appropriated under this act shall not lapse at the end o
f
any fiscal biennium but unexpended, unobligated and unencumbered funds shall revert to the general fund at the end of the lease term.

Section 2.

This act is effective immediately upon co
m
pletion of all acts necessary for a bill to become law as provided by Article 4, Section 8 of the Wyoming Constit
u
tion.

(END)

1
HB0111