Wyoming § 21-13-703 - Limits on indebtedness.
Full text of Wyoming Wyoming Statutes Annotated § 21-13-703 — Limits on indebtedness., with citation guidance and answers to common questions.
§ 21-13-703. Limits on indebtedness.
Each school district actually and physically operating within its boundaries a school shall have a limit on outstanding indebtedness of ten percent (10%) of the assessed value of the taxable property therein. Nothing in this section shall be construed as permitting any combination of school districts embracing common territory to incur a bonded indebtedness of more than ten percent (10%) of the assessed value of the taxable property therein. The amount in any sinking fund available for the payment of outstanding indebtedness may be deducted for the purpose of computing the debt-incurring power of such district. For this purpose, any general assessment for a particular district shall become effective when the county assessor shall have received notice from the state board of equalization of its final approval of the county valuations; provided, however, that if the county assessor receives such notice after the district has entered into an enforceable contract for the sale of bonds, a new lower assessed valuation shall not become effective until the day following the date of delivery of such bonds.
Frequently Asked Questions About Wyoming § 21-13-703
What does Wyoming Statutes Annotated § 21-13-703 cover?
Section 21-13-703 ("Limits on indebtedness.") is part of the Wyoming Statutes Annotated, the codified statutory law of Wyoming. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Wyoming § 21-13-703?
A common citation format is "Wyoming Statutes Annotated § 21-13-703" (Wyoming). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Wyoming law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Wyoming official source linked on this page or consult a licensed Wyoming attorney.
How does Wyoming § 21-13-703 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Wyoming can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Wyoming.