As used in this part: (1) "Fund" means the State Infrastructure Bank Fund created under Section 72-2-202. (2) "Infrastructure assistance" means any use of fund money, except an infrastructure loan, to provide financial assistance for transportation projects or publicly owned infrastructure projects, including: (a) capital reserves and other security for bond or debt instrument financing; or (b) any letters of credit, lines of credit, bond insurance, or loan guarantees obtained by a public entity to finance transportation projects. (3) "Infrastructure loan" means a loan of fund money to finance a transportation project or publicly owned infrastructure project. (4) "Public entity" means a state agency, county, municipality, special district, special service district, an intergovernmental entity organized under state law, an independent entity as defined in Section 63E-1-102, or the military installation development authority created in Section 63H-1-201. (5) "Publicly owned infrastructure project" means a project to improve sewer or water infrastructure that is owned by a public entity. (6) "Transportation project": (a) means a project: (i) to improve a state or local highway; (ii) to improve a public transportation facility or nonmotorized transportation facility; (iii) to construct or improve parking facilities; (iv) that is subject to a transportation reinvestment zone agreement in accordance with Section 63N-23-901 if the state is party to the agreement; or (v) that is part of a housing and transit reinvestment zone created in accordance with Title 63N, Chapter 23, Part 2, Housing and Transit Reinvestment Zone; (b) includes the costs of acquisition, construction, reconstruction, rehabilitation, equipping, and fixturing; and (c) may only include a project if the project is part of: (i) the statewide long range plan; (ii) a regional transportation plan of the area metropolitan planning organization if a metropolitan planning organization exists for the area; or (iii) a local government general plan or economic development initiative.
‹ 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.