63B-22 - 2013 Bonding and Financing Authorizations

Title 63B > 63B-22

Sections (2)

2013 Revenue Bond Authorizations

63B-22-101 - Revenue bond authorizations — Board of Regents.

63B-22-101(1) The Legislature intends that:

the Board of Regents, on behalf of Utah State University, may issue, sell, and deliver revenue bonds or other evidences of indebtedness of Utah State University to borrow money on the credit, revenues, and reserves of the university, other than appropriations of the Legislature, to finance the cost of constructing the Aggie Life & Wellness Center; Utah State University use student fees as the primary revenue sources for repayment of any obligation created under authority of this section; the maximum amount of revenue bonds or evidences of indebtedness authorized by this section is $30,000,000, together with other amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements; the university shall plan, design, and construct the Aggie Life & Wellness Center subject to the requirements of Title 63A, Chapter 5b, Administration of State Facilities; and the university may not request state funds for operation and maintenance costs or capital improvements. 63B-22-101(2) The Legislature intends that:

the Board of Regents, on behalf of Utah State University, may issue, sell, and deliver revenue bonds or other evidences of indebtedness of Utah State University to borrow money on the credit, revenues, and reserves of the university, other than appropriations of the Legislature, to finance the cost of constructing the Blanding Recreational Center at Utah State University: College of Eastern Utah: Blanding Campus; Utah State University use student fees as the primary revenue sources for repayment of any obligation created under authority of this section; the maximum amount of revenue bonds or evidences of indebtedness authorized by this section is $900,000, together with other amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements; the university shall plan, design, and construct the Blanding Recreational Center subject to the requirements of Title 63A, Chapter 5b, Administration of State Facilities; and the university may not request state funds for operation and maintenance costs or capital improvements. 63B-22-101(3) The Legislature intends that:

the Board of Regents, on behalf of Utah State University, may issue, sell, and deliver revenue bonds or other evidences of indebtedness of Utah State University to borrow money on the credit, revenues, and reserves of the university, other than appropriations of the Legislature, to finance the cost of constructing the Space Dynamics Laboratory; Utah State University use reimbursement from research projects as the primary revenue sources for repayment of any obligation created under authority of this section; the maximum amount of revenue bonds or evidences of indebtedness authorized by this section is $20,532,000, together with other amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements; the university shall plan, design, and construct the Space Dynamics Laboratory subject to the requirements of Title 63A, Chapter 5b, Administration of State Facilities; and the university may not request state funds for operation and maintenance costs or capital improvements. 63B-22-101(4) The Legislature intends that:

the Board of Regents, on behalf of the University of Utah, may issue, sell, and deliver revenue bonds or other evidences of indebtedness of the University of Utah to borrow money on the credit, revenues, and reserves of the university, other than appropriations of the Legislature, to finance the cost of constructing the Basketball Training Center - HPER Addition; the University of Utah use athletic revenues from ticket sales and television revenues as the primary revenue sources for repayment of any obligation created under authority of this section; the maximum amount of revenue bonds or evidences of indebtedness authorized by this section is $23,600,000, together with other amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements; the university shall plan, design, and construct the Basketball Training Center - HPER Addition subject to the requirements of Title 63A, Chapter 5b, Administration of State Facilities; and the university may not request state funds for operation and maintenance costs or capital improvements. 63B-22-101(5) The Legislature intends that:

the Board of Regents, on behalf of Utah State University, may issue, sell, and deliver revenue bonds or other evidences of indebtedness of Utah State University to borrow money on the credit, revenues, and reserves of the university, other than appropriations of the Legislature, to finance the cost of constructing the Utah State University Athletic Complex/Training Center; Utah State University use donations as the primary revenue sources for repayment of any obligation created under authority of this section; the maximum amount of revenue bonds or evidences of indebtedness authorized by this section is $7,500,000, together with other amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements; the university shall plan, design, and construct the Utah State University Athletic Complex/Training Center subject to the requirements of Title 63A, Chapter 5b, Administration of State Facilities; and the university may not request state funds for operation and maintenance costs or capital improvements.

2013 Capital Facility Design and Construction Authorizations

63B-22-201 - Authorizations to design and construct capital facilities using institutional or agency funds.

63B-22-201(1) The Legislature intends that:

Southern Utah University may, subject to requirements in Title 63A, Chapter 5b, Administration of State Facilities, use up to $35,000,000 in donations and institutional funds to plan, design, and construct a Center for the Arts with up to 110,000 square feet; no state funds be used for any portion of this project; and the university may not request state funds for operation and maintenance costs or capital improvements. 63B-22-201(2) The Legislature intends that:

the University of Utah may, subject to requirements in Title 63A, Chapter 5b, Administration of State Facilities, use up to $11,040,000 in donations and institutional funds to plan, design, and construct a Renovation and Addition of Phase II of the Kennecott Building with up to 40,700 new square feet; no state funds be used for any portion of this project; and the university may use state funds for operation and maintenance costs or capital improvements. 63B-22-201(3) The Legislature intends that:

Utah State University may, subject to requirements in Title 63A, Chapter 5b, Administration of State Facilities, use up to $9,800,000 in donations and institutional funds to plan, design, and construct a Science and Technology Building at Utah State University Tooele with up to 33,000 square feet; no state funds be used for any portion of this project; and the university may use state funds for operation and maintenance costs or capital improvements. 63B-22-201(4) The Legislature intends that:

the Department of Public Safety may, subject to requirements in Title 63A, Chapter 5b, Administration of State Facilities, use up to $1,505,000 in nonlapsing balances to plan, design, and construct a Drivers License Building in Price with up to 7,500 square feet; no state funds be used for any portion of this project; and the department may use state funds for operation and maintenance costs or capital improvements.