Security for on deposit public funds.

2016
STATE OF WYOMING
16LSO-0337
Introduced
1.2

HOUSE BILL

NO.

HB0148

Security for on deposit public funds.

Sponsored by:
Representative(s) Burkhart and Senator(s) Dockstader

A BILL

for

AN ACT relating to public funds; amending the securities that banks or savings and loan associations may pledge for on deposit public funds; and providing for an effective date.

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

Section 1
.

W.S. 9
‑
4
‑
821(
a)(xix)
and by creating a new paragraph (xxiii)
is amended to read:

9
‑
4
‑
821
.

Deposits by political subdivisions; security in lieu of surety bonds.

(a)

Instead of the bonds provided for in W.S. 9
‑
4
‑
820, the banks or savings and loan associations receiving on deposit public funds may, as security therefor, furnish to the proper treasurer of any county, municipality, community college districts or school district, any of the following:

(xix)

Bank qualified municipal b
onds of this state or of counties, cities, community college districts or school districts

of this state
or warrants issued by virtue of the laws of this state, or special improvement bonds issued by incorporated cities and towns of the state of Wyoming, at market value
;
.

(xxiii)

Bank qualified municipal bonds
of

any
state, count
y
,
cit
y
, community college district or
school district or special improvement bonds issued by

incorporated cities and towns
of any state
, at market value and bearing a rating of one (1) of the four (4) highest investment grades provided by a nationally recognized rating organization.

Section
2
.

This
act is effective July 1,
201
6
.

(END)

1
HB0148