63B-28 - 2018 Bonding and Financing Authorizations
Title 63B > 63B-28
Sections (3)
2018 Revenue Bond Authorizations
63B-28-101 - Revenue bond authorizations — State Building Ownership Authority.
63B-28-101(1) The Legislature intends that:
the State Building Ownership Authority, under the authority of Chapter 1, Part 3, State Building Ownership Authority Act, may issue or execute obligations, or may enter into or arrange for a lease-purchase agreement in which participation interests may be created, to provide up to $5,451,800 for a Pleasant Grove or Lehi market area liquor store, together with additional amounts necessary to pay costs of issuance, pay capitalized interest, and fund any existing debt service reserve requirements; the Department of Alcoholic Beverage Services use sales revenues as the primary revenue source for repayment of any obligation created under authority of this Subsection (1); and the Department of Alcoholic Beverage Services may request operation and maintenance funding from sales revenues. 63B-28-101(2) The Legislature intends that:
the State Building Ownership Authority, under the authority of Chapter 1, Part 3, State Building Ownership Authority Act, may issue or execute obligations, or may enter into or arrange for a lease-purchase agreement in which participation interests may be created, to provide up to $12,859,000 for reconstructing the Store 4: Foothill liquor store, together with additional amounts necessary to pay costs of issuance, pay capitalized interest, and fund any existing debt service reserve requirements; the Department of Alcoholic Beverage Services use sales revenues as the primary revenue source for repayment of any obligation created under authority of this Subsection (2); and the Department of Alcoholic Beverage Services may request operation and maintenance funding from sales revenues.
63B-28-102 - Revenue bond authorizations — Board of Regents.
63B-28-102(1) 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 a south campus student housing and dining project; the University of Utah use student housing rental fees and other auxiliary revenues as the primary revenue sources for repayment of any obligation created under authority of this Subsection (1); the maximum amount of revenue bonds or evidences of indebtedness authorized by this Subsection (1) may not exceed $105,217,000 for acquisition and construction proceeds, together with other amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements; the university may plan, design, and construct a south campus student housing and dining project, 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-28-102(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 Space Dynamics Laboratory Phase II; Utah State University use reimbursement from research projects as the primary revenue sources for repayment of any obligation created under authority of this Subsection (2); the maximum amount of revenue bonds or evidences of indebtedness authorized by this Subsection (2) may not exceed $31,400,000 for acquisition and construction proceeds, together with other amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements; the university may plan, design, and construct the Space Dynamics Laboratory Phase II, 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-28-102(3) The Legislature intends that:
the Board of Regents, on behalf of Salt Lake Community College, may issue, sell, and deliver revenue bonds or other evidences of indebtedness of Salt Lake Community College to borrow money on the credit, revenues, and reserves of the college, other than appropriations of the Legislature, to finance the cost of constructing a student center on the Jordan Campus; Salt Lake Community College use student fees as the primary revenue sources for repayment of any obligation created under authority of this Subsection (3); the maximum amount of revenue bonds or evidences of indebtedness authorized by this Subsection (3) may not exceed $13,000,000 for acquisition and construction proceeds, together with other amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements; the college may plan, design, and construct a student center on the Jordan Campus, subject to the requirements of Title 63A, Chapter 5b, Administration of State Facilities; and the college may not request state funds for operation and maintenance costs or capital improvements.
2018 Capital Facility Design and Construction Authorizations
63B-28-201 - Authorization to design and construct capital facilities using institutional or agency funds.
The Legislature intends that: 63B-28-201(1) Weber State University may, subject to the requirements in Title 63A, Chapter 5b, Administration of State Facilities, use up to $17,604,700 in donations and institutional funds to plan, design, and construct the Davis Campus Computer and Automotive Engineering Building; 63B-28-201(2) the university may not use state funds for any portion of this project; and 63B-28-201(3) the university may use state funds for operation and maintenance costs and capital improvements.