37-5-607. Powers; duties; limitations. (Note: this is effective as of 7/1/2020.)
(a) The authority has the powers granted by W.S. 37-5-501 through 37-5-509 as necessary to carry out the purposes of this article, including the power to hire technical consultants, financial advisors and legal advisors and specifically including the powers granted by W.S. 37-5-504(a)(ii). In addition to the powers otherwise granted to the authority, the authority shall have the power to:
(i) Enter into loan or other agreements with respect to one (1) or more projects, energy transmission infrastructure, energy export facilities, pipelines or systems upon terms and conditions the authority considers advisable;
(ii) Make and execute agreements, contracts and other instruments necessary or convenient in the exercise of its powers and functions, including contracts with any individual, firm, corporation, governmental agency or other entity.
(b) The authority may assess and collect fees that are nonrefundable from applicants seeking to obtain authority financing of an energy transmission infrastructure project, energy export facility, pipeline, system or other project in total amounts not to exceed five hundred thousand dollars ($500,000.00), which shall be credited to the state general fund.
(c) The authority shall maintain such records and accounts of revenues and expenditures as required by the director of the state department of audit. The director of the state department of audit or his designee shall conduct an annual financial and legal compliance audit of the accounts of the authority and file copies of the audit with the governor and the legislature.
(d) The authority shall require that any project owner receiving a loan under this article shall maintain records and accounts relating to the receipt and disbursements of loan proceeds, transportation costs and information on energy and associated natural resource sales and deliveries and make the records available to the state auditor for inspection.
(e) The sole recourse of any party contracting with the authority shall be against the authority, and there shall be no cause of action against the state, or any county, municipality or other political subdivision of the state.
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