Wyo. Code R. 060-0003-14
Loan and Investment Board
Chapter 14: Fees for Administrative Services and Interest Rates
Effective Date: 09/19/2008 to 09/27/2011
Rule Type: Superceded Rules & Regulations
Reference Number: 060.0003.14.09192008
STATE LOAN AND INVESTMENT BOARD
(a) This Chapter is promulgated under the authority of W.S. 11-34-103(a).
As used in this chapter:
(a) The Board will collect fees for administrative services occurring from activities associated with its programs conducted in accordance with the following Board rules:
(A) Application Fee - $100.00
(B) A fee of 1% of the amount of the loan shall be paid by the borrower at closing.
(A) Application Fee - $100.00
(B) A fee of 1% of the amount of the loan shall be paid by the borrower at closing.
(A) Application Fee - $100.00
(B) A fee of 1% of the amount of the loan shall be paid by the borrower at closing.
(iv) Loans for the purpose of restoring or enhancing livestock numbers in the state (A) Application Fee - $100.00
(B) A fee of 1% of the amount of the loan shall be paid by the borrower at closing.
(b) The fee for reamortization of any loan will be 1% of the reamortized amount.
(a) The Board will charge interest rates on all loans and amortized sales contracts associated with its programs conducted in accordance with the following Board rules:
An interest rate not less than the average rate of return realized on all Permanent Mineral Trust Fund investments as determined by the State Treasurer for the five (5) calendar years immediately preceding the year in which the loan is made, no equity requirement.
(A) 6% per annum.
(B) Sales Contracts - Sale of lands acquired through small water development project loan foreclosure:
(I) 8% per annum for contracts up to 50% of sale price;(II) 9% per annum for contracts up to 60% of sale price;(III) 10% per annum for contracts up to 70% of sale price.
(A) 8% per annum for loans up to 50% of appraised value;
(B) 9% per annum for loans up to 60% of appraised value.
(C) For 'Beginning Agricultural Producer' loans, as defined in Chapter 7, Section 2(c), for the first ten (10) years of the loan the rate shall be the lower of 8% or the average yield on a ten (10) year U.S. Treasury Bond for the previous year, rounded to two (2) decimals, as of the date of loan closing. At the end of ten (10) years the interest rate shall be 8%. Loans to beginning agricultural producers shall not exceed 70% of value.
(D) For loans for the purpose of enhancing or restoring livestock numbers in the state pursuant to W. S. 11 – 34 – 113(j), the interest rate shall be equal to seventy-five percent (75%) of the lowest current rate set by the Board for farm loans.
(E) Sales Contracts - Sale of lands acquired through farm loan foreclosure: (I) 8% per annum for contracts up to 50% of sale price; (II) 9% per annum for contracts up to 60% of sale price; (III) 10% per annum for contracts up to 70% of sale price.
(A) 0% per annum on Department of Environmental Quality Loans for corrective actions at leaking underground storage tank sites, pursuant to W.S. 16-2-106(b), no equity requirement;
(B) 2.5% per annum on all other loans, no equity requirement.
(A) 2.5% per annum on all loans, no equity requirements.