Wyo. Stat. § 15-7-102 (2026)

sewerage systems; elections.

     (a) A city or town may borrow money and issue bonds in
either coupon or registered form to any amount not exceeding the
limitation provided in W.S. 15-7-109 for the purposes enumerated
in this article. The amount of bonds may be any multiple of one
hundred dollars ($100.00), as provided in the ordinance
authorizing their issuance, and shall bear interest payable
annually or semiannually at a rate, at a place and in the manner
as the ordinance provides. The bonds may be redeemed before
maturity at a time or times and in a manner as the governing
body determines, and payable in not more than thirty (30) years
after the date of their issuance, or payable serially at times
in regular numerical order at annual or other designated
intervals in any amounts designated and fixed by the governing
body. However bonds issued by a city or town to establish,
construct, purchase or extend a system of sewerage may mature
and be payable at any time not more than forty (40) years from
their date or the estimated life of the improvement whichever is
shorter.

     (b) No bonds may be issued for the purposes provided in
this article until the proposition to issue them has been
submitted to and approved by the qualified electors of the city
or town at an election which shall be called, conducted,
canvassed and returned in the manner provided for bond elections
by the Political Subdivision Bond Election Law, W.S. 22-21-101
through 22-21-112.

     (c) Notwithstanding any provision of W.S. 22-21-101
through 22-21-112, for purposes of this section, where repayment
of funds borrowed from the United States of America or from the
state of Wyoming, or from any subdivision, agency or department
of either, is to be made solely from revenues generated by the
enterprise with which the financed public improvement project is
associated and where security for the loan is restricted to a
claim on the revenues generated from the enterprise with which
the proposed public improvement project is associated and to the
assets of that enterprise, any document evidencing the agreement
to repay the borrowed funds shall not be considered a bond and
no election shall be required.