9-4-821. Deposits by political subdivisions; security in lieu of surety bonds.

(a) Instead of the bonds provided for in W.S. 9-4-820, the banks or savings and loan associations receiving on deposit public funds may, as security therefor, furnish to the proper treasurer of any county, municipality, community college districts or school district, any of the following:

(i) United States treasury bills, notes or bonds, including stripped principal or interest obligations of such issuances, or any other obligation or security issued by the United States treasury or any other obligation guaranteed as to principal and interest by the United States;

(ii) Bonds, notes, debentures, or any other obligations or securities issued by or guaranteed by any federal government agency or instrumentality, including but not limited to the following to the extent that they remain federal government agencies or instrumentalities, federal national mortgage association, federal home loan bank, federal farm credit bank, federal home loan mortgage corporation and government national mortgage association. All federal agency securities shall be direct issuances of federal agencies or instrumentalities;

(iii) Repealed By Laws 1997, ch. 63, § 2.

(iv) Repealed by Laws 1989, ch. 124, §§ 1, 2.

(v) Repealed By Laws 1997, ch. 63, § 2.

(vi) Conventional first mortgages of Wyoming real estate at a ratio of one and one-half to one (1.5:1) of the value of public funds secured thereby;

(vii) Repealed By Laws 1997, ch. 63, § 2.

(viii) Repealed By Laws 1997, ch. 63, § 2.

(ix) Repealed By Laws 1997, ch. 63, § 2.

(x) Repealed By Laws 1997, ch. 63, § 2.

(xi) Repealed By Laws 1997, ch. 63, § 2.

(xii) Repealed By Laws 1997, ch. 63, § 2.

(xiii) Repealed By Laws 1997, ch. 63, § 2.

(xiv) Repealed By Laws 1997, ch. 63, § 2.

(xv) Repealed By Laws 1997, ch. 63, § 2.

(xvi) Repealed By Laws 1997, ch. 63, § 2.

(xvii) Repealed By Laws 1997, ch. 63, § 2.

(xviii) Repealed By Laws 1997, ch. 63, § 2.

(xix) Bank qualified municipal bonds of this state or of counties, cities, community college districts or school districts of this state or warrants issued by virtue of the laws of this state, or special improvement bonds issued by incorporated cities and towns of the state of Wyoming, at market value;

(xx) Repealed By Laws 1997, ch. 63, § 2.

(xxi) Repealed By Laws 1997, ch. 63, § 2.

(xxii) Repealed By Laws 1997, ch. 63, § 2.

(xxiii) Bank qualified municipal bonds of any state, county, city, community college district or school district or special improvement bonds issued by incorporated cities and towns of any state, at market value and bearing a rating of one (1) of the three (3) highest investment grades provided by a nationally recognized rating organization.

(b) The pledged securities shall be subject to the approval of the proper governing board. This act as it applies to securities when pledged by state depositories, shall apply as near as may be to such securities when pledged to the treasurer of any county, municipality, community college districts or school district. The director of the state department of audit shall promulgate rules to govern the pledge of real estate mortgages.