Utah Code 11-59-205. Authority funds
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(1) Authority funds consist of all money that the authority receives from any source, including:
Terms Used In Utah Code 11-59-205
- Authority: means the Point of the Mountain State Land Authority, created in Section
11-59-201 . See Utah Code 11-59-102 - Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Point of the mountain state land: means :(6)(a) the approximately 700 acres of state-owned land in Draper, including land used for the operation of a state correctional facility until completion of the new correctional facility and state-owned land in the vicinity of the current state correctional facility; and(6)(b) any land, in addition to the land described in Subsection
(6)(a) , that:(6)(b)(i) the state acquires; and(6)(b)(ii) is contiguous to the land described in Subsection(6)(a) . See Utah Code 11-59-102- 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
(1)(a) money appropriated by the Legislature;(1)(b) money from lease revenue;(1)(c) revenue from fees or other charges imposed by the authority; and(1)(d) other money paid to or acquired by the authority, as provided in this chapter or other applicable law.(2) The authority may use authority funds to carry out any of the powers of the authority under this chapter or for any purpose authorized under this chapter, including:(2)(a) providing long-term benefits to the state from the development or use of point of the mountain state land;(2)(b) investment in authority projects;(2)(c) repayment of point of the mountain infrastructure loans;(2)(d) repayment of or collateral for authority bonds;(2)(e) the sharing of money with other governmental entities under an interlocal agreement; and(2)(f) paying any consulting fees, staff salaries, and other administrative, overhead, legal, and operating expenses of the authority.