Wyo. Code R. 085-0022-2
Effective Date: 02/27/2026 to Current
Rule Type: Current Rules & Regulations
Reference Number: 085.0022.2.02272026
Section 1. Authority. Rulemaking for this program is the responsibility of the Wyoming Business Council as authorized by W.S. 9-12-104(a)(iv) and W.S. 9-12- 601.
Section 2. General Policy. A Building Resilient Communities (BRC) loan may be made to fund all or a portion of any project that is an eligible activity. A BRC loan may be used in conjunction with a BRC grant. In no event shall a loan be made to pay off or refinance existing debt.
(a) In addition to the application requirements in Chapter 1, the following items are required for loan applications:
(i) A copy of the signed resolution of support from the Applicant or the member agencies if the Applicant is a joint powers board that includes source of repayment of the loan and the proposed security for the loan;
(ii) If applicable, documentation of any environmental remediation or review requirements to be undertaken or that have been or will be undertaken at the expense of the Applicant. Council staff shall determine the level of environmental review required and, if after consultation with the Attorney General's Office, Council staff determine that further review or remediation is required, the Applicant shall undertake that review or remediation at its own expense;
(iii) If applicable, a determination whether the real property is subject to federal flood regulations. An Applicant must include a federal floodplain map and identify the location of proposed collateral. If necessary, flood and hazard insurance will be required at the expense of the Applicant;
(iv) If applicable, an Applicant shall include guarantees, letters of credit and any other proposed security for the loan;
(v) A letter from the Applicant's attorney addressing the following in detail:
for that repayment; and (E) An affirmation that the Wyoming State Constitution debt provisions and all other applicable statutory duties of the Applicant shall be followed.
(vi) In order for the Council to determine the ability of the Applicant to repay a loan and to aid the Applicant’s attorney in evaluating the legality of the proposed indebtedness, each Applicant shall provide:
(A) An annual budget for the preceding and current fiscal years; and
(B) A completed financial statement provided on a “General Financial Information” form provided by the Council staff, that includes, but is not limited to the following information:
(I) Assessed valuation for the current and two (2) preceding fiscal years;
(II) Total bonded and non-bonded indebtedness, including outstanding principal balance, interest rate and remaining term;
(III) Total mills levied within the jurisdiction of the Applicant for the current and two (2) preceding years, and a breakdown of the mill levy for the current fiscal year;
(IV) Sales and use tax imposed within the jurisdiction of the Applicant; and
(V) A summary of the Applicant’s total investments and cash balances for the three (3) preceding fiscal years.
(vii) Council staff may require additional information in accordance with Council loan policies.
(a) A BRC Loan shall be made at the following interest rates as recommended by the Council and established by the Board and reflective of market rates.
(i) A floor of zero percent (0%) for non-revenue generating projects.
(ii) A floor of one percent (1%) for revenue generating projects.
(iii) Loans shall have a one-time servicing fee of standard rates and will be serviced through a third-party contract.
(iv) Fees such as origination, documentation, filing appraisal and any additional fees will be paid by the Applicant.
(v) The term of the loan shall be based upon the useful life of the asset not to exceed thirty (30) years.
(a) A loan shall be adequately collateralized as recommended by the Council and determined by the Board. The Council may recommend, and the Board may require a first position security interest in the revenue generating facility and the related user fees or assessments. Other security may be required as determined by the Council and approved by the Board. A borrower shall be required to maintain adequate insurance on the proposed infrastructure, pay applicable taxes and assessments when due and maintain the infrastructure in good condition. An Applicant shall be required to provide a complete appraisal of the collateral. The Council reserves the right to review and accept the appraisal or to hire a third party to perform an appraisal at the cost of the Applicant. An appraisal may be waived in the event Council staff determine the project has sufficient equity coverage without considering the value of the collateral.
(b) Loans may be made as non-recourse loans. If the borrower defaults, the Council may seize collateral in line with the terms of the loan agreement, but shall not seek any further compensation from the borrower except as contemplated in the loan agreement.
Section 6. Election Determination. No funds shall be disbursed to an Applicant unless the Applicant provides proof that an election approving the project and borrowing for the project by the qualified electors of the borrowing entity has occurred or is not required by law.
(a) In addition to Application Evaluation criteria in Chapter 1, Council staff shall evaluate a loan application utilizing the following criteria:
(i) Whether the user fees or assessments generated by the project will be sufficient so that the loan may be considered a reasonable and prudent investment of state funds; and
(ii) If applicable, whether the Applicant is current on repayment obligations to the BRC account or other state loan accounts on any other existing loans.
(b) An otherwise eligible Applicant that is delinquent on previous debt payments will be deemed ineligible for a new loan or future project until the Applicant is made current on outstanding debt payments.
Section 8. Council Consideration. The Council shall consider each application; allow for comments from the public, the Applicant and the Council staff; and refer to the Board a recommendation including the amount of the loan, the term of the loan and the type of security
required to secure the loan.
Section 9. Subordination. Applicant agrees that a BRC Loan shall not be subordinate or junior in right of payment or security interest to any other indebtedness, whether now existing or hereafter incurred, without the prior written consent of the Council. Any attempt to subordinate the BRC Loan without such consent shall be null and void and may be considered as a default under Section 5(b) of this Chapter.
Section 10. Disbursement of Loan Proceeds. Funds shall be disbursed to the Applicant as described in Chapter 1, Section 14(b) of these Rules.