060-17 Wyo. Code R. §§ 17-12 - Disbursement and Administration

(a) Grant or loan funds shall be disbursed to the grantee or borrower only as needed to discharge obligations incurred. Requests for disbursements shall be made on a form supplied by the Office and supported by adequate proof that such obligations have been incurred for project purposes and are due and owing.

(b) The minimum grant or loan disbursement shall be five hundred dollars ($500.00) unless it is the final disbursement of funds for the project.

(c) As a condition of the grant or loan, the grantee or borrower shall provide written assurance that title to public transportation vehicles funded under this chapter will not be conveyed for a term of five years or until the vehicle has one hundred thousand (100,000) miles, whichever comes first, without written permission from the Office.

(d) As a condition of the grant or loan, the grantee or borrower shall maintain collision and comprehensive insurance for each public transportation vehicle funded under this chapter for a period of five years or until the vehicle has one hundred thousand (100,000) miles, whichever comes first. In the event of a loss, the proceeds of the insurance shall be used to repair or replace the damaged vehicle.

Notes

060-17 Wyo. Code R. §§ 17-12