Wyo. Stat. § 27-14-704 (2026)

determination; issuance by state loan and investment board;
bonding procedure, terms and conditions.

     (a) The department may upon determining that the issuance
of revenue bonds would be financially beneficial to the worker's
compensation account and that bond issuance would not negatively
impact employer contribution rates to the account, request the
state loan and investment board to issue worker's compensation
revenue bonds to fund awards and claims, program and
administrative expenses and program reserves. Upon receipt of a
request under this subsection, the state loan and investment
board shall review the department's determination and if it
concurs with the determination, the board may issue worker's
compensation revenue bonds in one (1) or more series not to
exceed an aggregate amount of two hundred million dollars
($200,000,000.00). The net proceeds from the sale of the bonds
shall after payment of issuance costs, be deposited into the
worker's compensation claims payment account established under
W.S. 27-14-701(f).

     (b) Revenue bonds issued pursuant to this section are
limited obligations payable solely from and secured by funds
deposited within the worker's compensation account as created
under W.S. 27-14-701(a) and the worker's compensation claims
payment account. The bondholders may not look to any general or
other fund for payment of the bonds except for revenues pledged
therefor. The revenue bonds shall not constitute an
indebtedness or a debt within the meaning of any constitutional
or statutory provision or limitation. The bonds shall not be
considered or held to be general obligations of the state but
shall constitute limited obligations of the state and the board
shall not pledge the state's full faith and credit for payment
of the bonds. Each series of bonds may be issued by the board
at public or private sale, in denominations and registered form,
with such provision for conversion or exchange, for establishing
interest rates or methods of determining rates on a variable or
fixed rate basis, for establishing maturities and redemption
provisions, as determined by the board. The bonds shall be
payable at the office of a fiscal agent designated by the board.
The state loan and investment board shall not issue any revenue
bonds under this section unless the sale results in an economic
benefit to the worker's compensation program as determined by
the board. In all other respects, the board may prescribe the
form and terms of the revenue bonds and shall do whatever is
lawful and necessary for their issuance and payment. Action
taken by the board under this section shall be approved by a
majority of its members.