(1) |
As used in this section, “board” means the Board of Water Resources created in Section 73-10-1.5. |
Terms Used In Utah Code 73-10-28
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(2) |
The board shall establish:
(a) |
a charge for the use of water, power, or a facility based on:
(i) |
a contractual agreement approved by the board for a project owned by the state; and |
(ii) |
the ability of an individual project to return the investment to the state; and |
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(b) |
an interest rate for the money the board lends to finance a project based on:
(ii) |
the repayment ability of the project; and |
(iii) |
other factors considered relevant by the board. |
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Amended by Chapter 267, 2008 General Session