Lands and Investments, Office of

Loan and Investment Board

Chapter 14: Fees for Administrative Services & Interest Rates

Effective Date: 01/02/2003 to 11/04/2003

Rule Type: Superceded Rules & Regulations

Reference Number: 060.0003.14.01022003

RULES AND REGULATIONS

STATE LOAN AND INVESTMENT BOARD

Chapter 14

Fees For Administrative Services and Interest Rates

Section 1. Authority.

(a) This Chapter is promulgated under the authority of W.S. 11-34-103(a).

Section 2. Definitions.

As used in this chapter:

(a) "Board" means the State Loan and Investment Board. (b) "Director" means the Director of the Office of State Lands and Investments. (c) "Office" means the Office of State Lands and Investments.

Section 3. Fees.

(a) The Board will collect fees for administrative services occurring from activities associated with its programs conducted in accordance with the following Board rules:

(i) Farm Loans:

(A) Application Fee - $100.00

(ii) Small Water Development Project Loans

(A) Application Fee - $100.00

Section 4. Interest Rates.

(a) The Board will charge interest rates on all loans associated with its programs conducted in accordance with the following Board rules:

(i) Chapter 2 - Joint Power Act Loans:

(A) 6% per annum, no equity requirement.

(ii) Chapter 5 - Small Water Development Project Loans:

(A) 6% per annum.

(B) Sales Contracts - Sale of lands acquired through

foreclosure:

(I) 8% per annum for loans up to 50% of value; (II) 9% per annum for loans up to 60% of value; (III) 10% per annum for loans up to 70% of value.

(iii) Chapter 7 - Farm Loans:

(A) 8% per annum for loans up to 50% of value; (B) 9% per annum for loans up to 60% of 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) Sales Contracts - Sale of lands acquired through farm

loan foreclosure:

(I) 8% per annum for loans up to 50% of value; (II) 9% per annum for loans up to 60% of value; (III) 10% per annum for loans up to 70% of value.

(iv) Chapter 11 - Clean Water State Revolving Fund Loans:

(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.

(v) Chapter 16 - State Drinking Water Revolving Account:

(A) 2.5% per annum on all loans, no equity requirements.