Utah Code § 63B-24-101

Revenue bond authorizations -- State Building Ownership Authority
Open in Lexace · Ask the AI about this section
(1) The Legislature intends that:
(a) the State Building Ownership Authority, under the authority of Title 63B, 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 $86,936,000 for the Fourth District Provo Courthouse Expansion, together with
additional amounts necessary to pay costs of issuance, pay capitalized interest, and fund any
existing debt service reserve requirements;
(b) the judicial branch use court fees and existing lease budgets as the primary revenue sources
for repayment of any obligation created under authority of this Subsection (1); and
(c) the judicial branch may use state funds for operation and maintenance costs or capital
improvements.
(2) The Legislature intends that:
(a) the State Building Ownership Authority, under the authority of Title 63B, 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 $4,447,900 for a West Valley Liquor Store, together with additional amounts
necessary to pay costs of issuance, pay capitalized interest, and fund any existing debt
service reserve requirements;
(b) the Department of Alcoholic Beverage Services use increased sales revenues as the primary
revenue source for repayment of any obligation created under authority of this Subsection (2);
and
(c) the Department of Alcoholic Beverage Services may request operation and maintenance
funding from sales revenues.

‹ Prev All Utah sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.