Utah Code 35A-8-1604. Duties — Loans — Interest
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(1) The board shall:
Terms Used In Utah Code 35A-8-1604
- Board: means the Uintah Basin Revitalization Fund Board. See Utah Code 35A-8-1601
- Capital projects: means expenditures for land, improvements on the land, and equipment intended to have long-term beneficial use. See Utah Code 35A-8-1601
- County: means :(3)(a) Duchesne County; or(3)(b) Uintah County. See Utah Code 35A-8-1601
- Division: means the Housing and Community Development Division. See Utah Code 35A-8-1601
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Revitalization Fund: means the Uintah Basin Revitalization Fund. See Utah Code 35A-8-1601
- 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
- Statute: A law passed by a legislature.
- Tribe: means the Ute Indian Tribe of the Uintah and Ouray Reservation. See Utah Code 35A-8-1601
- Utah Code: means the 1953 recodification of the Utah Code, as amended, unless the text expressly references a portion of the 1953 recodification of the Utah Code as it existed:
(42)(a) on the day on which the 1953 recodification of the Utah Code was enacted; or(42)(b)(42)(b)(i) after the day described in Subsection (42)(a); and(42)(b)(ii) before the most recent amendment to the referenced portion of the 1953 recodification of the Utah Code. See Utah Code 68-3-12.5(1)(a) subject to the other provisions of this part and an agreement entered into under Title 11, Chapter 13, Interlocal Cooperation Act, among the state, the counties, and the Tribe, make recommendations to the division for grants and loans from the revitalization fund to county agencies and the Tribe that are or may be socially or economically impacted, directly or indirectly, by mineral resource development;(1)(b) establish procedures for application for and award of grants and loans including:(1)(b)(i) eligibility criteria;(1)(b)(ii) subject to Subsection 35A-8-1606(2)(b), a preference that capital projects, including subsidized and low-income housing, and other one-time need projects and programs have priority over other projects;(1)(b)(iii) a preference for projects and programs that are associated with the geographic area where the oil and gas were produced; and(1)(b)(iv) coordination of projects and programs with other projects and programs funded by federal, state, and local governmental entities;(1)(c) determine the order in which projects will be funded;(1)(d) allocate the amount to be distributed from the revitalization fund for grants or loans to each county and the Tribe during a fiscal year as follows:(1)(d)(i) up to and including the first $3,000,000 that is approved for distribution by the board during a fiscal year, the board may allocate the amount in accordance with the interlocal agreement described by Subsection (1)(a), except that the board may not allocate less than 75% of the amount under the interlocal agreement to the Tribe unless the interlocal agreement is further modified by statute; and(1)(d)(ii) beginning with fiscal year 2007-08, any amount approved for distribution by the board during that fiscal year in excess of $3,000,000 shall be allocated equally amongst each county and the Tribe so that each receives 1/3 of the amount approved for distribution by the board in excess of $3,000,000;(1)(e) qualify for, accept, and administer grants, gifts, loans, or other funds from the federal government and from other sources, public or private; and(1)(f) perform other duties assigned to it under the interlocal agreement described in Subsection (1)(a) that are not prohibited by law or otherwise modified by this part.(2) The board shall ensure that loan repayments and interest are deposited into the revitalization fund.(3) The interlocal agreement described in Subsection (1)(a) shall be consistent with the following statutes, including any subsequent amendments to those statutes:(3)(a) this part;(3)(c) Section 59-5-116; and(3)(d) any other applicable provision of this Utah Code.