Utah Code 79-3-402. Utah Geological Survey Sample Library Fund
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(1) There is created an expendable special revenue fund known as the “Utah Geological Survey Sample Library Fund.”
Terms Used In Utah Code 79-3-402
- Board: means the Board of the Utah Geological Survey. See Utah Code 79-3-102
- Director: means the director of the survey. See Utah Code 79-3-102
- Equal: means , with respect to biological sex, of the same value. See Utah Code 68-3-12.5
- 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.
- Survey: means the Utah Geological Survey. See Utah Code 79-3-102
(2) The fund consists of money from the following revenue sources:
(2)(a) donations or contributions from individuals, companies, organizations, or government entities; and
(2)(b) interest generated by the fund.
(3) The director shall administer the fund.
(4)
(4)(a) Donations and other contributions to the fund and unallocated interest as provided in Subsection (5)(c) shall constitute the fund’s principal.
(4)(b) The principal may be expended only with the concurrence of the board.
(5)
(5)(a) Interest generated by the fund may be expended to support the sample library as provided in Subsections (5)(b) and (c) .
(5)(b) An amount of money equal to or less than the interest generated by the fund in the previous fiscal year may be expended annually in support of the sample library.
(5)(c) Funds that are eligible to be spent, but remain unallocated at the end of any fiscal year, revert to the fund and become part of the fund’s principle.